BEIJING, Feb. 06, 2018 (GLOBE NEWSWIRE) -- On February 1, 2018 Connecting Everything with Blockchain - INT Chain Release Conference, hosted by Shanghai Branch of Institute of Computing Technology Chinese Academy of Sciences, undertook by Shanghai Pudong Mobile Communication Association and iTalk Salon, and supported by Hangzhou Vanlian Information Technology Co., Ltd., iStart Venture Capital Fund (iStart Entrepreneurship Camp) and Damai[V] Intelligent Products Incubator, was successfully held in Zhangjiang Hi-tech Park, Pudong New Area, Shanghai. The release of INTchain, China’s first public chain of Internet of Things, became the focus of the conference.

There were many big names from famous enterprises gathered on the day of the meeting. Representatives from the China Internet of Things Development Center, Microsoft (China), SAP (China), iTalk Salon, ITechClub, Huawei, Shanghai Pudong Development (SPD) Bank, China Eastern Airlines, SAIC Motor, Ctrip, and other enterprises attended the meeting, and Li Dawei, the founder of Chinese Makers Culture, also gave a surprise appearance at the conference.

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Kong Huawei, director of Shanghai Branch of Institute of Computing Technology Chinese Academy of Sciences, first delivered a speech on the event. Kong said, “Up to now, the value trend of blockchain is very obvious. For example, INT's role is to complement and serve Internet of Things (IoT), so that IoT can have a continuous iteration, update, evolution and optimization." He also put forward that: "we hope many interested enterprises can initiate the Global IoT Chain together, promoting the integration of IoT and blockchain into a wider area of cooperation, and it is hoped that in the future China will have such a unified and professional organization that will be able to talk to the world in the ‘things economy.’"

Yin Xiangyu, person in charge of INT China, introduced the work achievement and development plan of INT at the current stage. "INT will invest more manpower and material resources in 2018 to conduct iterative optimization which can improve the performance and expansion of the INTchain and apply the INT to smart cities, logistics, pharmaceutical systems and many other fields."

Xiang Ruofei, the chief architect of INT, firstly shared "Chinese First IoT Public Chain -- INT Technology and Application," showing the basic path of INT to the guests. Dr. Xiang mentioned that at present, blockchain technology is still immature, and it is necessary to reset up a public chain according to the characteristics of IoT architecture, which first can meet the requirements of data processing efficiency and application scalability and achieve the TPS and second-level confirmation at blockchain of more than 10,000 level by using the consensus mechanism of DPoS or Algorand; second, meet the needs of coordination and optimization of limited resources such as computing, storage and network of the edge nodes. The economic incentive mechanism is essential and needs to be integrated into the token module in the consensus algorithm. At the same time, Dr. Xiang Ruofei answered the questions on the launch of INTchain2.0, the development of blockchain gateway equipment and its verification and test, and the joint development of blockchain OS kernel during the project development with some key partners.

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At the end of the conference, by the hosting of Tan Lei, co-founder of the Global Supply Chain and Blockchain Alliance, Xiang Ruofei, INT chief architect, Chen Guanghui, chief engineer of INT Dapp development, Sun Rongwei, chairman of Adups Technology, Li Chuang, CEO of Damai Incubator, and Mi Wenfei, partner of Mirahome Intelligence participated in the dialogue salon of Blockchain + IoT Integration Application Development conference together and shared the understanding of blockchain and IoT from the areas of their subdivisions.

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After the meeting, the initiative of Global IoT Chain received positive responds from many enterprises who hope to achieve further innovation, cooperation and win-win.

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