How to choose blockchain IoT development company

Every day this technology is gaining more and more recognition, significantly expanding the boundaries and opening up more and more new areas of application.

Now the blockchain is used not only for transactions between users but also in various spheres of human activity, including the financial market, gaming industry, government, etc. Various blockchain-based solutions are often implemented in combination with the Internet of Things (IoT), technology Big Data (big data), artificial intelligence (Artificial intelligence, AI), and other modern technologies.

The format of the article is unlikely to allow at least a brief acquaintance with all stages of the evolution of the development of such a multifaceted sphere as IoT. The main emphasis in this material will be on the prospects for IoT interaction with blockchain technology, some examples of the successful practical application of these two technologies, as well as the problems standing in the way of their joint development.

For example, if a classic database is located on centralized servers belonging to an organization or an individual, then the blockchain is distributed among many network participants and cannot be controlled by any of them separately. The blockchain can store various data that is verified by special equipment – miners.

The mechanism of interaction with blockchain-based applications resembles working with the Google Docs service when several people have simultaneous access to a document and can watch its changes in real time. Benefits of blockchain and IoT integration

  • Decentralization. The information collected by IoT devices is often stored and managed by centralized servers, which opens up the possibility of unauthorized transfer of sensitive data to third parties. In addition, if a single point of failure occurs, the entire network can go down immediately.

At the same time, unlike the cloud, the entire blockchain network is controlled by many independent nodes, so that no organization can control the huge amount of data generated by IoT devices at Hyperlab.digital.

  • Safe hardware upgrades. This hypothesis was successfully tested at the University of Tulsa, which used the source blockchain to update the firmware of an ESP8266 board over a WiFi connection.
  • Increased confidentiality. Blockchain can protect and even hide the communication between devices, allowing data transfer transactions to be validated without the involvement of third parties. In addition, blockchain can also optimize IoT protocols by providing end-to-end encryption. This eliminates the risk of data leakage and unauthorized interference in the operation of IoT networks.

Blockchains for connected things with intelligence

As you can see, these technologies are already becoming a part of our future. And they will develop in a wide variety of areas and directions, and not necessarily apart from each other.

IoT + Blockchain

Blockchain technology ensures data security and process transparency. IoT industry leaders recognize how promising the combined capabilities of these two technologies are – and are moving forward accordingly. Blockchain iot development company has partnered with international partners to create the Trusted IoT Alliance.

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