What is CanonChain?
CanonChain (CZR) is a cryptocurrency and operates on the Ethereum platform. It's the core of the CanonChain network. The later is a unique blockchain ecosystem which is intended to transfer value for the future internet. CanonChain was created to connect blockchain with the physical world. CanonChain changes the current IoT (Internet of Things) forming a new system FoT (Fog of Things). In the case of IoT networks, all the operations are done through the cloud server, even though the devices are distributed in different areas. In fact, IoT has a centralized structure with many issues like high prices, network congestion, safety problems. Besides, the users cannot access their own data as service providers are the only ones who own it. CanonChain offers an alternative. Having designed some details of the standard blockchain, it brings innovations like consensus algorithms based on devices’ resource contribution, new smart contracts, transaction rate mechanism, built-in token exchange system and more. It allows the users to be connected in a decentralized way without going through the central server.