Monday, January 18, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Blockchain and IoT: Distinguishing the Hype from Reality

Srikanth by Srikanth
September 23, 2018
in Internet Of Things
Reading Time: 2min read
A A
0
Blockchain and IoT: Distinguishing the Hype from Reality
9
SHARES
134
VIEWS
Share on FacebookShare on Twitter

Blockchain has been mentioned virtually by all research companies as the fast accelerating evolution and it is not only about the financial services companies, scope where we tackled the blockchain outside of cryptocurrency roots.

Actually, blockchain convergence and Internet of Things are on an agenda for a lot of companies and there’re existing implementations, initiatives and solutions in many areas, outside of financial services and IoT too.  It appears as if the blockchain technology is going to change different aspects of the digital business. Blockchain is the bigger deal than Internet. If you combine blockchain & IoT then you have 2 bigger deals than Internet who want each other for many reasons.

Security issue is the highly compelling reasons for using blockchain

At present, failure in IoT ecosystem exposes the multiple devices, vast amounts of personal data (example, the smart home devices generally have an access to the intimate details of our lives and day-to-day routines), and the supply chain partners as well as community.

ADVERTISEMENT

This security flaws generally revolve over 3 areas: connection, authentication, and transaction. The devices that connect, verify, and spend improperly with any other devices are major concerns. By making use of blockchain to manage an access to the data from IoT any attacker will need to bypass the additional security layer that’s underpinned by the robust encryption standards accessible.

Oversight is important component that the blockchain adds to IoT equation.

With the data transactions happening between the multiple networks owned and been administered by the multiple organizations, permanent and immutable record means that custodianship is tracked as the data pass between the points in a supply chain.

The machines can record all the details of transactions that happen between themselves, without any human oversight. Without private keys giving the write-access to blockchain, no human can overwrite this record with inaccurate information.

Smart contracts are real game-changer in IoT applications.

By encoded logic it’s now possible to create the agreements that can be easily executed when some conditions are met. It is very useful for different types of scenarios. The basic example is you can authorize the payment, when the conditions indicate that the delivery of service is provided.

In such way all the interactions between consumer and connected device are been handled in the transparent, frictionless and untamperable way. There’s even a view that the blockchain & IoT convergence can become a big necessity at certain point of time.

Under prevailing IoT paradigm, the devices are connected through the centralized processing and cloud storage service. It is long-term, like with number of the connected devices and thus data volumes increasing fast, systems handling it are possible to get bloated and resulting in the inefficiencies and bottlenecks.

Blockchains will solve this all because of their distributed nature, and where data storage network gets duplicated over the hundreds of devices that make up this network. The massive amount of the redundancy means that data always will be close in hand when it is required cutting down the transfer times and that means one server failure is of no consequence for business activity.

Tags: BlockchainIOT apps
Share4Tweet2Share1Pin1
Srikanth

Srikanth

Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs

Related Posts

IOT Security
Internet Of Things

Revolutionizing Quality through IoT Security

December 31, 2020
Top 12 Revolutionary IoT Trends for 2021
Internet Of Things

Top 12 Revolutionary IoT Trends for 2021

December 7, 2020
PCB Design Software Options for your IOT Product
Internet Of Things

How To Successfully Design A PCB For IoT Products

October 23, 2020
IoT monitoring systems..Services offered By AWS,Azure
Internet Of Things

IoT monitoring systems..Services offered By AWS,Azure

August 31, 2020
Understanding the Convergence of IoT and data analytics
Internet Of Things

Understanding the Convergence of IoT and data analytics

August 26, 2020
Why Consumers Haven’t Fully Adopted IoT Devices
Internet Of Things

IoT Testing – How Connectivity, Continuity and Cybersecurity Are More Decisive Than Ever

August 11, 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

Impact of COVID-19 on Startups Funding
Tech news

Post-Pandemic Investment Management: Why turn to AI

by Daglar Cizmeci
January 17, 2021
Get Maximum Benefit from your LinkedIn App using Piwaa
Tech news

Get Maximum Benefit from your LinkedIn App using Piwaa

by Sony T
January 16, 2021
chatbot customer service
Tech news

25 Virtual Assistant Services You Can Offer Your Clients

by Sony T
January 14, 2021
Learn how to set up automated security testing
Tech news

Majority of DDoS Attacks in 2020 – StormWall Report

by Srikanth
January 14, 2021
Broadband – Types & Their Benefits to Cloud Computing
Tech news

Broadband Connection – Types & Their Benefits Explained

by Sony T
January 14, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.