IOTW is a blockchain ecosystem for Internet of Things (IoT) devices. AnApp’s technology operates on their unique Proof of Assignment consensus algorithm, which allows those devices to be connected to a blockchain and used for small-scale “micro-mining” of the native IOTW token. The company’s focus lies on providing a low-power mining alternative to existing Proof of Work / Proof of Stakes protocols.
In June 2018, AnApp demonstrated 200 fully-functional micro-mining IoT devices in Shenzen. The IOTW team now hopes to develop a demo network with 1,000 devices, with the porting to the ESP32 chipset representing a major step towards that goal.
In a statement to the media, AnApp CEO Fred Leung commented:
“We are porting our firmware into a semiconductor chipset which has tens of millions of deployments. ESP32 porting is just the beginning, and all manufacturers or brand owners of IoT devices can easily adopt our technologies. As a result, their end-users can start earning blockchain rewards and use cryptocurrency to experience the benefits of decentralization. We believe such high-volume deployment measures are the only way to make crypto accessible to the masses.”
Espressif is a prominent multinational fabless semiconductor, established in 2008 in Shanghai. The company focuses on low-power WiFi-and-Bluetooth solutions for the Internet of Things. The ESP32 chip, one of their most popular products, integrates Wi-Fi (2.4 GHz band) and Bluetooth on a single IoT chipset, powered by a dual-core ultralow-power processing unit. The chipset runs at 0.5W.
The IOTW development team used Espressif’s Open SDK to create a firmware port of their micro-mining software for the ESP32 chipset. According to Leung, this is “just the beginning for IOTW”.
Overall, the porting of the IOTW software to Espressif’s chipset proves AnApp stays committed to its promise of low-power micro mining through IoT devices. To find out more about the IOTW project, visit their website for more information, follow them on Twitter, or join their Telegram for updates.