ContractNet is optimized for lower memory devices. These external devices will interface directly with the ContractNet network, or with oracles acting as intermediaries between the devices and the blockchain, to securely exchange data with smart contracts on the blockchain.
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ContractNet is a new public, permissionless blockchain which is purpose built with the storage, sharing and analysis of IoT data streams. The ContractNet technology company is based in Hong Kong, and is registered in both Hong Kong and the USA.
We believe that a systemized framework for sharing IoT data, and a platform for developing distributed apps & smart contracts, could benefit all industry sectors for the better. The ContractNet is positioning itself at the intersection of these exciting technologies - Blockchain, the Internet of Things and Smart Contracts.
It has been designed and optimized specifically for IoT solutions, where IoT device owners can share their data streams in a secure, incentivized manner, and application developers use this data to develop the next generation of apps and contracts. External devices (called data providers or “Oracles”) will interface directly with the ContractNet network, providing time-series data from the physical world, to the walled garden that is a smart contract (or distributed app) within a Blockchain, in a safe, secure manner.