Internet of Things(IoT) is not just a buzz, it is evolving as one of the biggest businesses. IoT products are no more simple thermostats or monitoring device, intelligence in IoT systems are growing leaps and bounds every day. Developing an IoT product is not a cakewalk as they involve many stages and demands high intelligence as well as innovative thinking.
Developing an IoT product is no menial task . It takes wide range of skillset and huge amount of cost to build an IoT product. Sometimes building a full blown IoT product could take years because of the complexities of integration of the various components. IoT is all about innovation and being a pioneer is even more challenging as you need to re-invent to stay relevant . High software skills become prerequisite as there will be a need for developers to build new libraries according to their product design. Testing a developed IoT product brings in need of not only pushing software to beta users but also requires hardware to be shipped including detailed product setup and usage instructions. Compared to the traditional software product development process, IoT product development stages are more complex and time-consuming.
Stages of IoT prototyping
1. Identifying the problem
The first step in developing the IoT product is to clearly identifying the problem defining what the product will achieve. Sometimes it involves bringing to the table the solution that was never envisioned before.
2. Choose the toughest problem first
IoT Product development comes with many distinct stages and riskiest assumptions. A challenge that demands more focus is chosen and can be made as a priority. This will pave way for taking important product decisions upfront rather than spending months on steps which have predefined solutions.
3. Building the solution
A full blown IoT products needs to integrate several components -hardware, middleware, cloud, analytics, visualization. Choosing the right technology and building the blocks piece by piece to put the complete stack together will be crucial for the success of the product.
4. Proof of concept
Next step is to build the MVP. This will be the first working model of the IoT solution and helps to validate the solution proposed. It requires a regular checking of the model with desired outcome to be aligned with the goal.
5. Final version
Once the MVP is tested and validated it will be time to create the actual product. Feedback from the testing and market could help to refine the product for the final version .
There are two ways the IoT product could be developed ,1)develop the complete solution from the grounds up 2) buys pieces of solution from various players and integrate to build the complete solution. Both these approaches have their own cons . The first approach is going to consume lots of time as it requires the organization to build the full stack skillset. The second approach could also cost time and money as the each vendor could add up to the cost and integrating all components would be a real challenge.
A decentralized IoT marketplace will be a true solution to build a complex IoT product . This opens up the possibility of opening the gate of IoT market to the pool of global talents. This model could pave the way for a faster development process and also bring in high standard and innovation. Visions and missions of an industry can be met due to increased global engagement.
Hurify, the Ethereum based decentralized marketplace is built aiming to incorporate all the boons that a decentralized marketplace can bring to IoT industry. It enhances IoT marketplace not only by enabling a swift transformation of IoT ideas into products but also overcoming all challenges imposed by the centralized market. It greatly reduces the cost of investment as there is no necessity for training employees from scratch and increases profit by building product as desired with contribution from many innovative minds present globally. There is no single point failure in the system and redundancy is always maintained thus the connection between client and developers is always available. No transaction of actual cash is involved in this secure blockchain network as they are effectively replaced by HUR tokens.
Developers present globally can exhibit their talent by productively contributing to any client’s innovative IoT idea directly without any third-party interference. This is going to be a gamechanger in IoT industry as they effortlessly overcome the shortage of skills which is one of the major concerns that is bothering IoT industry’s growth. Effective talent search, less investment, low product development cost and secure on-time payment are the features that make Hurify platform unique.
Hurify is a decentralized secure blockchain platform where clients can post their requirement for product development and look out for developers holding HUR tokens. Developers, on the other hand, can create their Hurify profile providing all their expertise. They can bid when a client posts their requirement. The client chooses a developer who best matches their requirement and a multi-signature escrow is used to hold the HUR. This is released to the developer once the project is successfully completed along with a certificate. This certificate holds an excellent value when looking out for further development opportunity in Hurify platform.
You are invited to be part of the big revolution that Hurify is about to create!!
