CPChain aims to reduce the cost of system connectivity, increase the value of open data sharing, ensure user privacy and system security for IoT. (1) It’s estimated that there will be approximately 31 billion IoT devices deployed by 2020. (2) They want to construct a new generation of IoT architecture, which provides a full process solution for data acquisition, storage, sharing and application in the IoT industry. CPChain is focused on multiparty data transactions and artificial intelligence decision applications based on big data analysis.
Currently the IoT industry has three major problems: Cost, The centralization characteristics of the current IoT system causes the problem of poor operability and high connection cost between devices and among IT systems; Isolability, The traditional IoT architecture is a certain structure for specific application scenarios, which is likely to result in isolated data islands. Moreover, the data value cannot be fully utilized; Privacy and Security, Privacy leakage and cyber attack are frequent reported recently on IoT, which shows that users’ privacy data and system security are not well protected. (3) By establishing multi-party trust and realizing the interconnection of heterogeneous data, it solves one of the problems in the traditional IoT industry.
CPChain wants to overcome the bottleneck problems in the current IoT system by considering four technologies which include: distributed cloud storage, data security cryptography, blockchain technology, and a large-scale distributed network consensus protocol. The four technologies are explained below:
– A decentralized system is built by integrating blockchain technology to guarantee that the data on the chain is permanently valid and tamper-proof. It provides verifiability and traceability for various IoT application.
– A new technology of combining cryptography and distributed hash table (DHT) is proposed to solve the scalability problem of the data storage in traditional blockchain.
– A distributed consensus protocol is designed to encourage users participation and promote the cooperation of all parties involved in the system.
– Both re-encryption and homomorphic encryption technologies are implemented to guarantee the operation of the system, protect users’ privacy data, and further enhance the confidence of users.
They explain the technology with the following example: the platform can obtain sensor data of all kinds of equipment of electric vehicles and batteries to realize the predictive maintenance of electric vehicles by using artificial intelligence. Combining this with travel data and charging pile data, CPChain can establish a shared travel and charging platform for electric vehicles, which enables economic travel. The goal is to combine all IoT data. They want to provide a basic data platform where different IoT systems are effectively connected and data can be intelligently interacted.
As to the technical architecture, CPChain leverages a three part system: parallel distributed computing and storage architecture, a double consensus mechanism, and a lightweight side chain consensus protocol. The parallel architecture is their approach to solving stability of data storage and sharing. The distributed cloud computing uploads encrypted data to lower the pressure on the main chain, the parallel architecture separates the data layer from the control layer, and the side chains help with processing and consensus.
CPChain will have Masternodes but as of writing this there has been no further information provided. Information will be updated when available.
Use of the CPChain token(CPC)
CPC is a primary asset on CPChain which characterizes and measures digital economic activity. The value of CPC is based on two practical business needs. One is that the use of CPChain consumes a certain amount of CPC as fuel.The other function is holding CPC is a symbol of participating in CPChain community governance. In order to ensure the balance of communication and computing resources, DAPP application developers must hold a corresponding amount of tokens according to the resources to be occupied by the application, and may lease them if the number of tokens is not enough. For transactions resulting from DAPP applications, DAPP developers bear the corresponding costs, and pay leasing fees to miners who provide rental tokens.
40%: Overseas community and institutional investors; 35%: Community governance; 25%: Founding team, development team and consultants
The tokens of the development team have a lockup period of 3 years.
Team and advisors
The CPChain team consists of more than 20 professionals of different disciplines, 3 important members are explained below.
CEO: Chengnian Long, received the BS, MS, and PhD degrees from Yanshan University, China, in 1999, 2001, and 2004, respectively, all in control theory and engineering. He is an associate professor at Yanshan University. His current/past research interests are in the area of noncooperative behavior and incentive mechanism design in wireless multi-hop networks, energy-efficiency protocol design in wireless sensor networking, and pricing mechanism in Internet. Other facts: IEEE Senior member, ACM Member, Member cyber security committee of industrial systems, Executive director Intelligent manufacturing and service division. (4/5)
Co-Funder: Bin Zhao, 12+ years in research and develop experience on communication, IoT and FinTech and has 3 patents on IoT inventions. (6)
Shi Qingwei, Founder of the shared finance and HPB, participated in the preparation and investment of many projects
Partnerships and Investors
– QTUM, quantum chain provides financial support for the CPChain and provides an infrastructure and technical reserve for technical upgrading and iteration of the CPChain in the later period. At the same time, CPChain will also enrich the layout of the quantum chain in the area of block IoT. (7)
– Metaverse, they will share resources (money, materials, knowledge etc.) for the R&D of a basic blockchain architecture. Metaverse supports improvement in the digital identity system. Focussing on efficient and convenient digital personal data and asset transfers helping to guarantee security of transactions and personal privacy. (8)
– HPB, reached a series of cooperation intentions on the hardware, the underlying technology of blockchain, application scenarios and basic scientific research. HPB claims they can reach a transaction speed of 1 million TPS. (9)
– Torgue Capital Partners, has confirmed investment into this project.
– SAIC Motor Corporation Limited, SAIC is a Chinese state-owned automotive design and manufacturing company with multinational operations. A Fortune Global 100 company and one of the “Big Four” state-owned Chinese automakers. (10)
– Vechain, cited as an investor on their website.
’18 M6: Establish a complete framework: Development route, technology research, related patents, open source community.
’18 M10: CPchain Platform V1.0: Module development, code open source and release of beta version.
’19 M8: Industrial solutions: Development of sample applications, attract more businesses and developers to join.
’20 M1: CPChain Platform V2.0: IOT secured data gateway, side chain concensus and typical IoT applications.