CPChain intends to build a fundamental data platform for IoT system in combination with distributed storage, encryption computation and blockchain technologies, providing the whole process solution from data acquisition, storage, sharing to application.
CPChain is a promising solution to a series of challenges of current “chimney architecture” of IoT systems, reducing connectivity cost of devices, protecting data privacy and maximizing the value of IoT data.
All in all, CPC is a distributed infrastructure for the Internet of Things (IoT). They’re building a unified platform to connect IoT devices, sharing across the blockchain allowing vendors and consumers to monetize their data.
They have a strong team and notable investment partnerships. Although the team’s ICO incompetence, the project has the fundamentals to see considerable growth once there is more public awareness.
There was no public ICO and the private sale had a minimum contribution of 100 ETH. The sale was a mess, they used a standard Ethereum wallet instead of a smart contract. Admins were informing people on Telegram to stop contributing when they reached their max, but had no means of stopping them.
They’re now individually reaching out to KYC applicants to verify payment and refunding the rest. May be one of the more poorly run ICOs we’ve witnessed. CPChain gained hype because of their strong list of investors, but have yet to show any effort in marketing themselves to the public.
The massive amount of data generated by CPChain will be made available to a plethora of users, including but not limited to: Universities, small & medium sized companies, & research institutions. Currently, due to limitations on the availability, these users are forced to work with large corporations to obtain data which can be difficult and cost prohibitive.
CPChain aims to solve scalability issues with blockchain technology. Normally when an intelligent device (example- cell phone) interacts with the blockchain, the whole network node is required to work on the interaction because each node in the network stores the same data/performs the same tasks. Contrary to this, CPChain operates using a parallel architecture by utilizing two parallel blockchains. Using the prior example, when the cellphone interacts with the network, one blockchain stores a portion of the cellphone’s data, while the other performs any transactions/creates smart contracts. This significantly improves transaction speed & overall scalability without changing the block capacity.
Blockchain technology is largely centered on privacy & security. It is vital for the IoT to be viewed as trustworthy & secure if it expects to continue to grow at the its current pace. The development of CPChain on the blockchain ensures privacy via decentralization — no third party controls the data. The elimination of outside parties lessens the risk of hacker attacks or other malicious attacks by not securing data in one central location.
