Flowchain’s Innovative Approach Towards Building a Decentralized IoT Architecture
Flowchain’s vision is to embrace the “blockchain” technology and utilize it to create significant value by connecting the two areas of “Artificial Intelligence” and “Internet of Things” that are not highly connected and specialized. What Flowchain wants to build isn’t just a blockchain technology, but a new blueprint for the future of IoT and artificial intelligence, an era of “AIoT.”
Flowchain Foundation came up with the Flowchain distributed ledger technology (DLT), the Flowchain digital assets (FLC), and the Flowchain IoT solutions.
Based on these technologies, Flowchain’s IoT solutions aim to provide a Data 2025 Ready solution to the enterprises. By the year 2025, more than 150B IoT devices are expected to interconnect across the world, and most of them will act in a real-time manner. However, the problem is the existing IoT technologies do not provide such real-time capabilities. By adopting Flowchain IoT solutions, the enterprises will be able to fill the technology gaps.
The Flowchain IoT solutions include multiple private blockchains, and a public trusted blockchain, such an architecture is called Flowchain hybrid blockchain architecture. The private blockchains give an Edge Computing environment to guarantee real-time computing capabilities. Generally, a considerable amount of data is transferred from the IoT gadgets to the public cloud. Generally, the public cloud can not guarantee real-time computing due to the limited network transmission capacity and the long distance of data transfer. With Flowchain hybrid blockchain, the endeavors can advantage from the edge computing solutions which leads to the distributed system. The distributed approach must support three foundational functions.
But, why do we require a decentralized architecture, what benefits does this concept bring to IoT applications? Well, the answer is “Data Privacy”. We all know how vital data privacy is in this connected world. Every single minute there’s a massive amount of information being exchanged. Particularly with these IoT gadgets, we do not know who is utilizing our data, or on whose server is our data being put away. When people transfer IoT data to a particular IoT Platform, they lose control of valuable data ownership, usage rights, and storage.
Data is the most critical asset of the Internet of Things system. Therefore, IoT Blockchain can provide Data Privacy solutions for existing IoT network architectures because of the nature of the regression blockchain. At the same time, the introduction of a Trust mechanism can improve Data Security. Data Privacy and Data Security are two primary issues of the IoT architecture, and also have an intersection of Semantic Web’s appeals.
From a technical perspective, how can we create a Decentralized IoT Architecture? At present, the most common view is to implement the IoT Network using Peer-to-Peer technology. The Flowchain project is a system that wants to build an IoT Blockchain in the same way as Peer-to-Peer Networking.
Flowchain is ready for Data 2025.
05/11/2019
