AnApp: New Blockchain Technologies to Change the IoT World
May 21, 2018 | ACN NewswireEstimated reading time: 1 minute
AnApp Blockchain Technologies has developed new and transformative 'Proof of Assignment' and 'Micro-mining' algorithms, the backbone of a new blockchain ecosystem and game-changer for the IoT world.
HK-based AnApp's founders are well-versed in computer hardware and software, holding more than 20 patents in semiconductor and electronics designs, and believe that the integration of IoT and blockchain will benefit our industries and daily lives.
However, today's 'Proof of Work' algorithm consumes vast amount of power, requires expensive processors, large memory and numerous pieces of hardware and accessories, and is inapplicable to most IoT devices.
AnApp's founders have developed 'Proof of Assignment' and 'Micro-mining' algorithms which do not require the high computational power and electricity, and are memory light with minimal or no add-on cost to the IoT device.
With these proprietary algorithms, AnApp is developing 'IOTW' (IoT World, the cryptocurrency of AnApp), a blockchain ecosystem.
With 'IOTW', IoT devices can now 'green-mine' with social and environmental responsibility. IOTW also allows IoT devices to autonomously carry out intelligent sourcing for accessories, after sale services and product suppliers.
Smart appliances will be upgraded to autonomous appliances with the new 'IOTW' technology, connecting all industries and people's daily lives in the IoT world.
The 'Proof of Assignment' algorithm also supports instant transactions. AnApp successfully demonstrated micro-mining and instant transactions with 15 micro-mining devices in Penang on May 4, 2018.
All transactions in the IOTW ecosystem will be low cost, instantaneous, energy efficient and green. IOTW blockchain software will be free to download for all IoT devices.
"Veteran blockchain investors in Penang, after seeing the functionalities and features of our blockchain platform, believe that our IOTW ecosystem has the critical success factors for large scale implementation and real world application.
"It is very different from currently available blockchain technologies, which are difficult to deploy in real life, and their tokens remain in the realm of speculative trading.
"We will expand our technology worldwide, and bring the economic benefits to all people," Frederick Leung, co-founder and CEO of AnApp said.
Suggested Items
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device
04/12/2024 | JCN NewswireNTT DOCOMO, INC., NTT Corporation, NEC Corporation and Fujitsu Limited jointly announced today the development of a top-level (1) wireless device capable of ultra-high-speed 100 Gbps transmissions in the 100 GHz and 300 GHz sub-terahertz bands.
Scientists Propose a New Way to Search for Dark Matter
04/02/2024 | SLAC National Accelerator LaboratoryEver since its discovery, dark matter has remained invisible to scientists, despite the launch of multiple ultra-sensitive particle detector experiments around the world over several decades.
INSPECTIS Offers Slider Plate Stand for Optical Inspection
04/01/2024 | INSPECTISINSPECTIS introduces a new specialized slider stand capability for repetitive optical inspection tasks, for example, for the production of special devices such as stents.
Ambiq Apollo510 Delivers 30x Power Efficiency Improvement to Unleash Endpoint AI
03/27/2024 | AmbiqAmbiq, a technology leader in exceptionally energy-efficient semiconductors for IoT devices, is introducing the new Apollo510, the first member of the Apollo5 SoC family, which is uniquely positioned to kickstart the age of truly ubiquitous, practical, and meaningful AI.
Commercial Demand Continues to Be the Main Driver of Personal Computing Device Shipments into the GCC Region
03/26/2024 | IDCThe Gulf Cooperation Council (GCC) personal computing device (PCD) market, which is made up of desktops, notebooks, and workstations, declined 4.0% year on year in 2023, with high inventory levels and reduced consumer spending the primary causes.