Modern IoT systems are centralized and inefficient

Today, IoT devices must connect to a сentral cloud server, even if they are in close proximity to other devices in the network. Operation and maintenance of such systems are quite expensive. In addition, their existence further increases the risk that the entire system could break down if service providers fail.

A decentralized approach will help to solve these problems. With its help, IOT systems of the future will be able to establish a stable connection between millions or even billions of devices. Moreover, this structure will reduce the possibility of simultaneous fall of the entire network in case of failure of one of the nodes of the system. Such decentralized systems will be based on blockchain technology.

Blockchain solves the problems of low level of protection and use of outdated centralized systems. It eliminates the risks of hacking devices by reducing potential points of entry and providing self-protection of the system. Also, this technology allows you to make the system decentralized.

By the end of 2019, 20% of all IoT systems will have established basic levels of blockchain, and VeCap intends to become one of the first blockchain IOT providers on the market. VeCap will create a public blockchain platform that will use smart contracts, which will allow it to guarantee the security of smart home and smart office devices. Devices certified by VeCap will be automatically added to the blockchain ecosystem, which will allow them to interact with each other directly or through the central module of the “smart home” and “smart office” of VeCap.

Also, VeCap will create a special adapter for connecting non-certified devices manufactured by other companies. The adapter will allow more tightly integrate smart objects in the house through the blockchain ecosystem, allowing all smart devices at home to work together.

More information about the solution from VeCap — on the official website of the project at https://en.vecap.io/.