Shares of IOST’s Partner Soar 500% at NASDAQ
Shares of NASDAQ-listed EHang Holdings—an IOST’s strategic partner since 2019, is up 500% in two months, a report on Jan 19 shows.
EHang Holdings Shares Soar
EHang Holdings is a Chinese manufacturer of drones enjoying success following increasing demand for unmanned aerial vehicles (UAVs).
The rapid repricing of EHang Holding shares comes slightly more than 15 months after IOST joined hands with the drone manufacturer.
In their announcement in April 2019, IOST would be tasked with providing flight data integrity and analytics effectiveness for the Civil Aviation Administration of China (CAAC)-speared project.
The data management system supplied by IOST ensures transparent and verifiable data etched into the blockchain for maximum security.
Leveraging IOST for Flight Data Security and Management
Specifically, the success of this partnership zeroed-in on IOST’s superior properties.
The platform, unlike competing smart contracting platforms like Ethereum, has a higher throughput guaranteeing better scalability.
Accordingly, on-chain fees are near-negligible, making it one of the most attractive blockchains for launching enterprise-grade solutions.
EHang Holdings had the confidence to secure their encrypted flight data securely on the platform because of these features. This, in turn, introduces flexibility since data are public, monitored on-chain, and are tamper-proof.
Air Transport Can Integrate Blockchains For Better Transparency and Security
A U.S. Department of Transportation (DOT) report has earlier revealed how the blockchain can resolve trust, data sharing, and management issues.
Their findings note that distributed ledger technology can be beneficial because of the encryption that’s the default in its systems.
This way, flight data can be secured while concurrently making data transparent and secure.
EHang Holdings Role in Chinese UAV Scene
EHang Holdings drafted the “Specification for express delivery service by unmanned aircraft,” an industry standard-setting document on behalf of the State Post Bureau of China.
The document has already been implemented, a milestone for the Chinese UAV industry. It set binding specifications that should be adhered to within the Chinese UAV circles, setting a baseline for further improvement and general safety in UAV delivery.
Besides, the UAV manufacturer has independently developed a complete set of smart air logistics solutions.
As BTCManager reported, the IOST ecosystem is broad and finds utility not only in transport but in DeFi, gaming, and more.