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Decentralizing 'Internet of Things' connected device networks through Blockchain

Internet of Things (IoT) has been there for a short time and it's grown popular to become omnipresent. Stats confirm that there has been a rise of 31% for IoT devices and by end of 2020 there'll be as many as 20 billion connected devices. That's huge!

However, IoT isn't the sole technology that's turning the tables, the present wave also talks about Blockchain which is additionally termed as 'The Key to Innovation’. So, what if these technologies are available harmony? Produce something that's technologically far more advanced, exciting and secure.

Internet Of things india

 

The Challenge with IoT

The basic challenge with IoT is security and therefore the secure interconnection between billions of devices over a network. If IoT goes to redefine our lifestyle then the safety and data integrity of an equivalent should be of paramount importance to us. IoT must expand its capability within the domain of speed, reliable connectivity, and security. Let's take a fast example, Konica Minolta offers a variety of printers for office, production, industrial also as 3D printing which may even be configured over an IoT network and accessed from a good area network, hence the safety of IoT network is vital to safeguard the usage of devices on its network, like sensors, printers, servers, production machines, etc.

Iot Challenges and Pros

 

Meanwhile, Blockchain is one such technology that's setting an example to be the strongest incorruptible implementation by securing the foremost valuable cryptocurrencies within the world. Its embedded smart contracts and decentralized networks are often a viable solution for concerns around IoT.

Readying the Blockchain

The blockchain is unquestionably making its impact across different industry sectors. this could soon be considered because the uniform technology to standardize platforms, drive future initiatives and work together as a worth chain.

Iot India

 

 

The integration of Blockchain with IoT has already started, Qtum a Singapore based Blockchain company is ready to create an IoT ready platform that leverages Blockchain smart contracts to integrate with Bitcoin’s prolific blockchain. This implementation are going to be more useful for businesses and form base for a rigid system for IoT.

The Blockchain Approach

The blockchain is a chic solution to make peer-to-peer communication model. Through the creation of distributed digital ledger, the transactions are shared among nodes of a network rather than being stored on a central server. Upon registering with blockchain, IoT participants can record the transactions and cryptography are often wont to authenticate and identify these participating nodes and permit secure addition of transactions to the ledger. Transactions can then verified by other ToT participating nodes this eliminating needing for a central authority.

Blockchain

 

This ledger can't be tampered and manipulated by any external factors because it's not stored during a single location and man-in-the-middle attacks can't be staged because no single thread of communication are often intercepted.

Integrate Watson with IoT

IBM is additionally working within the direction to integrate Blockchain with IoT using Watson platform. The Watson platform features a built-in capability wherein it lets one add the chosen IoT devices to a personal blockchain network. This protected data can only be shared among the partners involved the transactions.

Iot Fits Together

 

Also, IBM IoT Lab services offer a group of customized service engagements, enabling users to experiment and innovate with IBM Watson IoT Platform and blockchain technologies.

 

Blockchain has already proven its worth within the world of cryptocurrencies by acting as guaranteed peer to see payment services without the necessity for third-party brokers. There are many technology organizations that are researching on multiple ways to integrate Blockchain with IoT. this is often a symbiotic relationship where IoT is in desperate need of an upgrade while Blockchain is prepared to grab the chance and integrate for a far better good.

 

~Shubindia, Advertising Agency

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