IoT Chain (ITC) is has been added to KuCoin cryptocurrency exchange. The information was released by KuCoin exchange on a post on their website on February the 20th. ITC deposits and withdrawals start on February the 20th 18:00 and trading at 22:00 (UTC +8) and will be paired with BTC and ETH.
IoT Chain Listed on KuCoin
ITC, designed to solve the safety problems that the Internet of Thing industry faces nowadays, gains more exposure by being listed on KuCoin exchange. ITC uses a combination of asymmetric encryption of cryptography, semi-homomorphic-encryption ciphertext computing technology and distributed architecture. That allows users and the devices to be protected against possible attacks.
KuCoin announced the new currency as follows:
“KuCoin is extremely proud to announce yet another great project coming to our trading platform. IoT Chain (ITC) is now available on KuCoin. Supported trading pairs including ITC/BTC, ITC/ETH.”
As usual, KuCoin warns users about the risks of investing in the virtual currency market. It explains that it’s important to pay more attention at these risky investments.
Technical Yellow Paper Released
According to the post released by IoT Chain, the team was able to combine two blockchain technologies known as PBFT (Practical Byzantine Fault Tolerance) consensus mechanism and DAG (Directed Acyclic Graph). In this way users will have higher security, decentralization and enhanced performance.
“As a next generation blockchain project, IoT Chain has now released their technical yellow paper, open source DAG test network and main chain code,” reads the post. “In the near future, the ITC development team will make further improvements to the yellow paper based on results from the test network.”
Furthermore, the new version of ITC’s official website has been released. It includes the possibility to navigate to the official Medium and more animations with improved layout were added.
In case you want to make a comment or suggestion, IoT Chain offers the possibility to do it using the official Telegram account.
“We have received additional feedback from our dedicated community which is under review. If you have further comments or suggestions, please connect with us on Telegram,” finishes the post.