Stronger together — IoT & Blockchain
Internet of Things (IoT) is a network of connected physical devices and hardware (such as sensors). IoT is not only about sensors, it involves habitual devices such as Internet routers, smart watchers, appliances (for example — home iron, fridge, AC or microwave oven) with Internet connection, navigators, IP cameras, smart locks etc. Internet of Things tends to start next technology revolution by massive automation of everyday tasks, business and industry maintenance, infrastructure exploitation.
Blockchain is a kind of distributed ledger that allows to certify any action via new record which cannot be faked.
The rapid spread of IoT solutions places high demands on backbone architecture reliability, availability, scalability and sustainability. Most of existing IoT networks based on centralized cloud servers architecture. But centralization of all data operation in one IoT provider cloud carries risks of data privacy, hacker attacks and sustainability of “things” network. Last tests have established that every day up to 12 000 attacks occur on each IoT device in the world.
Benefits of cooperation
Combining and convergence of IoT and blockchain technologies gives following advantages:
- Decentralization and sustainability. Decentralized blockchain architecture suggests multi-level data reservation that makes blockchain backbone of IoT network resilient to node failure and sustainable to long term growing and development.
- Treatment and privacy. Total IoT usage logging in distributed ledger makes blockchain a trusted storage and prevents most intruders.
- Cheaper to maintain. The use of the blockchain is cheaper, the larger IoT nodes network, as opposed to centralized solutions.
Proof of Work
Now, there are several blockchains platforms enough adapted to operate IoT data:
- IOTA — it is created as IoT blockchain platform and mostly customized for IoT specifics. IOTA supports massive log recording by billions devices, secure and fast transactions with no fee.
- Hyperledger — created by Linux Foundation, IBM, Intel and SAP private blockchain for business tasks. Hyperledger is big business and industries oriented solution and could be perfectly adapted for tracking and industry automation tasks.
- Quorum — created by JP Morgan and supported by Microsoft Azure Ethereum based hybrid blockchain (supports public and private transactions). Today Quorum based IoT blockchain solutions are represented in tracking (location service), industry (sensors data logging).
Expertise
In Sfxdx team we have extensive development experience in different blockchain platforms development. Our engineers can develop any blockchain and IoT services you can submit.
