Where is IoT going?
Internet of Things (IoT) is a collective name for all devices with an internet connection. You can think of a phone, television, coffee maker, washing machine, curtains, work equipment and much more. It's a huge network of connected 'things'. One thing can be a master with an implanted heart monitor, a lion with an identification chip and a car with a built-in tire pressure gauge. In fact, it concerns all objects that have their own IP address and the power to send data over a network. The relationships within this network are between human-human, human-thing and thing-thing.
The network will be bigger and bigger in the coming years. Most households have access to the Internet, the cost of such a connection is getting smaller, more and more devices get a wifi option, technology costs go down and smartphone penetration is getting higher. All of these developments cause the creation of the Internet of Things and its exponential growth.
What is the added value of this IoT network?
Collect and save data
The internet in recent years was totally dependent on what people posted on it. All recorded audio and video files, written documents and created images are created by people themselves.
The problem is that people are limited in time, attention and accuracy. As a result, we are not good at tracking data for everyday operations. It would therefore be useful if we had computers that could collect data themselves and know everything about topics / things. We could then register everything that could reduce waste, losses and costs in business. For example, we would know when parts should be replaced and when stock needs to be replenished.
What is the impact?
The new rule for the future is that everything that can be connected will be connected. All things that communicate with each other within the IoT network will provide many benefits.
A private example of this is:
Your alarm clock goes, it's time to get up! The alarm clock is connected to your coffee machine and the coffee is already ready when you have entered the kitchen. It is also hot because the heating has been completed one hour before the alarm has started. After the good breakfast you get in the car for the important business meeting. The car reads your calendar and directs the best route for you. Apparently, it is busy on the road and is delaying you. The car sends a message to the other party to indicate that you are fifteen minutes later due to the hustle and bustle on the road.
A working example of this is:
Every employee is carrying a device on the work floor, which keeps track of where and when you were most productive and share this information with the corporate network. This allows business processes to be flawlessly adjusted and productivity measured. If it is a break at 12.00, there is always plenty of coffee and tea. Indeed, the inventory keeps track of what stocks are and adds them if necessary. At 12.30 the break is over and the smart thermostat puts the heater slightly lower so that no unnecessary costs arise. On the workfloor, the radio has resumed itself and everyone can work with new energy!
Obstacles of the IoT network
The recently sketched examples show that Internet of Things can provide us with a lot of convenience. However, everything is not going on rolls and we are running against obstacles.
An important obstacle is security. When there are many devices connected to each other, it is extremely important that the shared information is safe. It may not be that a hacker can access the entire corporate network via the coffee machine.
The second obstacle is privacy. Because all devices communicate with each other, there is a lot of privacy sensitive information in the network. An hacker can learn everything from when you get up to what appointments you have today. Ideal for burglars when they know that no one is home from 12:00 to 13:00.
A third obstacle is data sharing. The mutual communication of devices causes an increase in data to be stored. Companies must find a way in which they can manage this increase in data.
Here comes blockchain
What is blockchain?
Blockchain is a distributed database that is constantly adding new data. Only data can be recorded, not deleted. Distributed means not having a computer across the database. Each participating computer has a copy of the database. When someone wants to enter a transaction in the database, all participants within the network will have to validate them. They do this by applying an algorithm.
An x number of transactions will be bundled and will be included in a block. This block is sent to each participant in the network and included in the blockchain after validation.
What solution does it offer?
The centralized security of companies will not be upset by the expansion of the IoT network and its increase in data. The blockchain and the combination of cryptographic processes provide a good alternative.
Blockchain is built for decentralized control and has better scalability than current centralized companies. It can therefore be used to map billions of connected devices and manage the mutual communication with the subsequent data increase. It provides a resilient ecosystem on which the devices can run.
The cryptographic algorithms used by the blockchain provide more privacy of the data. The blockchain ensures that data is legitimate, and the process that introduces new data is well-defined.
The blockchain is protected against hackers because the stored information is not in a location. It is decentralized and the information is stored in many different locations. The interconnection within the network extends between many different points, which means that man-in-the-middle attacks can not be executed.
Because blockchain works decentralized and everyone contributes to its safety and operation, without the intervention of a third party, the blockchain is a good solution to IoT's challenges.
It is therefore no surprise that companies with IoT technologies are the first blockchain adopters.
The block chain, like any Bitcointransactions, can validate and store all communication between IoT devices. This allows the IoT devices network to operate autonomously without the need for a third party. Smart contracts can then be used to make the IoT devices match and act accordingly.
Blockchain will play an important role in the security of the IOT network, network trust, cost reduction and acceleration of transactions. In the end, we do not have Internet or Things but Blockchain or Things.
IOTAs Tangle will be more important!!!
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