ioeX Whitepaper

According to research conducted by Strategy Analytics, the Internet of Things (IoT) sector will continue its rapid growth, with the number of IoT central box and connected devices worldwide reaching nearly 20 billion by the end of 2017, and a further 10 billion expected to be added over the next four years. It is estimated that as an increasing number of IoT business applications are introduced to residential and work environments on an expanded scale, the total number of IoT devices may surpass 50 billion by 2020.

The rapidly growing number of IoT devices and their diverse range of highly mobile applications are driving an astounding demand for network transmission, which includes 1) information access and user interactions via network connections to user devices, 2) connectivity and interactions between user devices, 3) network services provided by smart device providers to support product features, and 4) software updates and other product optimizing measures provided by smart device providers.

As suggested by 1-4 above, there are currently two main types of practices on the smart-device-end:

1. User interactions: These are done through channels provided by Internet Service Providers (ISPs) such as social media like Facebook, Weibo, and Instagram; instant messaging applications like Whatsapp, LINE, and Wechat; or internet applications like Google Drive, Baidu Cloud, and Dropbox. While these channels offer the advantage of cheap or free usage, there are potential problems regarding personal information leaks and the unauthorized use or sale of personal or business files along with the resultant issues of personal safety or property damage.

2. Features or services provided by smart device providers: These allow users to bind smart terminals to the device-end to facilitate wireless use in the intranet or remote transmission and configuration in the extranet.

Device providers usually need to set up the network system required for these features themselves or outsource the work. In order to achieve iterative updates of software and firmware in the purchased smart devices, smart device providers perform over-the-air (OTA) upgrades for both software and firmware. This procedure also involves the aforementioned network service system. The network service systems of smart device providers need to include file servers used for the OTA upgrades and relay servers that ensure smooth transmission for user devices connected to the extranet. In addition to the setup and maintenance costs of the system itself, accumulated storage and data transmission costs driven by an increasing number of units can eat into the profit margin as more devices are put into consumers’ hands. Additional costs incurred due to increasing numbers of users and maintaining the security of user information should also be taken into account by smart device providers.

To counter the core factors of the aforementioned issues, ioeX proposed its Decentralized Network of Distributed Smart-Device-Nodes (hereinafter referred to as the decentralized carrier network or the ioeX carrier network) as a solution. The ioeX carrier network utilizes the connections and communications between bootstrap nodes and peer nodes to establish a network architecture of direct communication based on the current internet and build a secure network that provides distributed storage services and data transmissions without third party intermediaries to smart device vendors, application service providers, content providers (including both individuals and teams), and even user-generated content around the world.

All great deeds begin with a solid first step. For ioeX, our market entry strategy has been to create revenue by providing services for smart device updates and to further expand our business by reducing operational costs and risks for smart device vendors as our service becomes widely adopted, thereby building a robust and secure carrier network system. The distributed smart devices required for the operation and setup of the 5 carrier network are not limited to new products sold by device vendors, but also include older smart devices currently in use. IoeX provides users with both terminal and device apps that they can install themselves, allowing users to upgrade their existing devices, redistribute their unused storage space, and utilize the existing data bandwidth in their homes to meet demand for private cloud storage, instant messaging, and more. Using our proprietary R&D capabilities and our strategic cooperative alliances, ioeX will continue to build on the aforementioned foundation to enrich the ecosystem by developing applications for both personal and business use.

The ioeX carrier network blockchain records the workload and contributions of the nodes and provides bootstrap nodes and peer nodes with rewards and incentives in the form of IOEX, a digital currency issued through our self-owned public chain, to encourage brand owners, integrated solutions companies, CPU vendors, and original design manufacturers to adopt this business model and join its ecosystem. These rewards and incentives also increase end consumers’ inclination to purchase smart devices with P2P carrier network capabilities which then become nodes as they join the carrier network, allowing vendors, Internet Service Providers, and general users of the device supply chain to access network functionalities with IOEX coins. With the issuance and use of IOEX, the ioeX carrier network has thereby established a circular economy of digital currency and its surrounding ecosystem.

IoeX is rapidly implementing the ioeX carrier network value chain, and has now gained the support of various chip vendors, solution providers, and device vendors. This new network ecosystem offers tremendous benefits for conventional internet applications and easy IoT setup solutions.

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