IoT Chain (ITC) provides a decentralized resource sharing solution that allows and supports peer-to-peer (P2P) value exchange. The incentive system on the IoT chain is transparent, tamperproof, and open because it is stored on a blockchain. Additionally, the IoT chain preserves the incentive income of participating users while preventing others from molding the rules and protecting value from bad actors in the ecosystem.

Users and institutions can participate fairly in data sharing and market transactions despite the bad actors. All circulating information such as profit distribution and transaction pricing is transparent, traceable, and open. IoT chain data classification is utilized to purchase, access, and share data through ITC token transactions after an encryption-based desensitization procedure.

Further, ITC is the native token of the IoT project operating on the Ethereum platform. The cryptocurrency powers the entire network of the IoT chain. The main aim of the IoT chain is to become a basic network for the internet of things (IoT). The IoT chain aims at creating a secure and energy-efficient environment to become an economy of sharing for the internet of things and stimulants of the creation of artificial intelligence.

Moreover, the IoT chain assists agencies and users form agreements in advance on the way the data revenue is distributed, ensuring transparent and fair income distribution where users receive their fair share. The IoT Chain (ITC) has adopted asymmetrical encryption, which means that the data cannot be tracked even if it is collected, as long as the private key is kept safe and secure.

The IoT Chain (ITC) project was introduced by a team of Chinese developers who focused on processing operations. The project started its development phase in 2017 and was completed in the first quarter of 2019. The max supply of ITC tokens is 1,00,000,000. The team of IoT chain developers includes Xie Zhuopeng (CEO), Ding Ying (CTO), Zhao Tan (CFO), and Liao Dongnian.