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Launched in 2020 and operating on the Etheruem blockchain, ObitanChain (OBTC) is a cryptocurrency. ObitanChain's objective is to solve a wide array of the problems plaguing internet of things (IoT) networks regarding data security, data circulation, data sharing, and data transactions, to enhance the efficiency of the entire IoT ecosystem.
ObitanChain utilizes the concept of “lastic sharding at layer one,” and it facilitates the integration of IoT devices with the ObitanChain blockchain network. Adopting the use of Edge Computing technology, it allows different devices on the IoT network to be used as a mining machine to make every IoT device that utilizes ObitanChain subject to mining incentives.
As a result of the use of blockchain technology, the data source is verifiable on the ObitanChain network. In addition, the value of the data is quantified, and the data transfers are secured. This facilitates the emergence of IoT standards, unlocks different IoT application scenarios, and gives space for the industry to enhance development.
