ITC Progress Update 4/8/2018-10/8/2018

Aug 13,2018

weekly report


Main chain

[Done] Wallet

[Done] Refactor validators (used in authentication module)

[Done] Algorithm coding

[Done] Modify chain ID to support unlimited chain protocols

[Done] Add consensus engine and protocol, abstract unified interface for different consensus algorithms

[WIP] Fetch all tokens for one address

Light Nodes

Bluetooth master-slave mix and multi-node connection (based on cc2540)

ECC implementation of asymmetric algorithm for chip


weekly report

Number of token holders 19428 +1.29%

Number of transactions 51169 +1.08%

(Data source: Etherscan.io)


weekly report

Chinese Community

WeChat & QQ 7320 -0.33%

Overseas Community

Telegram 62111 -0.65%

Twitter 20969 +0.57%

Reddit 7115 +22.97%


IoT Chain and SWFT Blockchain Sign Strategic Cross-Chain Exchange Cooperation

weekly report

IoT Chain is pleased to announce a strategic partnership with Silicon Valley based SWFT Blockchain, a one-click cross-chain currency transfer exchange and wallet. The two parties will jointly carry out in-depth co-operation and promote the development of a new generation of blockchain technology. ITC has now launched on SWFT platform, which can realize cross-chain exchange with 35 Tokens.


ITC and SWFT launched two airdrop initiatives [Chinese Community]:

* Poster Sharing—Sharing of an ITC & SWFT poster on WeChat moments and obtaining 10 likes from friends

* Trading Competition—Trade ITC on the SWFT app


Consensus algorithm

Consensus is the basis for building blockchain trust, which is usually used to deal with issues such as transaction verification/confirmation in a very short time, and is generally implemented through specific mathematical algorithms. For example, IoT Chain uses VRF+PBFT, Bitcoin uses POW (Proof of Work) and Ethereum uses POS (Proof of Stake).

Chain ID

A chain ID is used to realize EIP-55 in order to support checksum address encoding.

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