A commercial revolution of Distributed Internet-of-Vehicles
On Nov 14, OKEx Jumpstart will welcome its 9th token sale of ROAD, a distributed Internet-of-Vehicles economic system, that aims at building an auto-ledger covering full life-cycle interaction and accounting system for vehicles based on blockchain technology.
The trend in the automotive industry
Despite the boom in the global automotive aftermarket and the dramatic growth in the related industries, such as car maintenance & repair, auto-finance, and second-hand trade, the development of automotive data is still weak.
Yet, automotive data has high circulation and application value, and the trend of integrating 5G technology into vehicles is growing fast. In light of this, ROAD works to improve the automotive data collection, data privacy, and transaction environment, incubating more possible business applications in the industry.
What is ROAD
ROAD is a business-driven project that develops an effective distributed automobile economic system based on the auto-ledger, an intelligent transportation system built on individual interaction and cluster intelligence.
The system architecture of ROAD includes data production (data collection and submission), data storage (data and transaction verification, distributed storage and transaction records, and on-chain storage of key data), and application (data publication, search and calculation, user applications).
By utilizing blockchain technology, the auto-ledger stores all static data, including VIN number, car price, configuration, insurance, and mortgage, as well as dynamic data, including driving habits and trajectory, records of maintenance, etc. In this way, it maps a virtual digital vehicle in the system and allows users to manage and transfer all the data and digital assets of the virtual digital vehicle.
What’s more, it offers practical commercial applications while also protecting user data privacy. Road develops Dapps and mobile apps for vehicle condition checking, data transaction, auto-finance, and purchasing related data products. In addition, ROAD officials will also provide users with wallets, blockchain browser, and other basic applications.
ROAD will adopt the IPBFT consensus algorithm of INT Chain.
The consensus algorithm features more nodes participating in block generation that guarantees a higher speed of the block, more efficient community governance, strong consistency, fast and high performance with the speed of the generated block reaches 3 seconds, and the performance reaches 3000 TPS.
ROAD’s native token is an essential part of the ROAD economic system. It is created based on the INT public chain smart contract to coordinate the resources exchange between vehicle nodes and heterogeneous chains. And most importantly, one of the beauties of ROAD is that they follow the principle of ‘More participation in the community comes with more benefits to users.’
- Project Name: ROAD
- Ticker: ROAD
- Total Supply: 2,000,000,000
- Protocol: IRC20 token on INT mainnet
- ROAD/USDT Spot Market: 07:00 Nov 14, 2019 (UTC)
- ROAD/USDK Spot Market: 09:00 Nov 14, 2019 (UTC)
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