Whitepaper summary for the ioeX ICO

[CryptoMav]

Below is an excerpt of Amity’s summary of the ioeX ICO Whitepaper:

What is ioeX?
ioeX is a decentralized platform for connection of smart devices, also called the Internet of Things (IoT). The ioeX team hopes to capitalize on the growth of IoT by offering a low-cost way for smart devices to connect with each other and be upgraded.

The homes of consumers are increasingly being filled with "smart" devices, such as smartphones, PCs, voice-activated smart-speakers, and eventually, smart cars. But these devices require an enormous amount of data to be upgraded and maintained. They also have staggering bandwidth needs when communicating with each other.

If a consumer is operating all of his/her devices in the home, communication between these devices is simple. However, consumers often leave their homes and want to connect using a smartphone, laptop, or other portable device. Since these devices are not hooked up to the home WiFi, this requires the company providing the device to maintain servers to handle communication.

However, the data needs of these devices are so extreme that profit margins are often reduced due to the cost of maintaining these servers. In some cases, companies have actually sustained losses because of these costs.

The ioeX team believes this problem must be solved if IoT is to continue growing. And according to them, it can be solved through a decentralized network.

How does ioeX work?
To learn more, visit https://amity.io/blog/ioex-ico/