iBeacon is a protocol launched by Apple which toys around the CoreLocation framework. It was introduced in iOS 7 and is supported in all versions thenceforth.

iBeacon reference guide : https://developer.apple.com/ibeacon/

A beacon is a small wireless Bluetooth device that broadcasts radio signals, which could be detected by an iOS device which supports the iBeacon protocol. In Android, all those devices that supports Bluetooth Low Energy protocol (Bluetooth 4.0) can detect the beacons.
There are many uses of beacons, contextual awareness being the primary target.
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BeaconPlus beacon is available in market from $5, which in itself is negligible considering the multitude of features it offers.
Each BeaconPlus beacon is run using a non-rechargeable lithium battery that should last up to 2 years depending on beacon configuration.
The signals from the beacons could reach as far as 40m, provided there are no obstacles to absorb or diffract the radio signals.
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