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Dec 19

Looking into The Future: What do Internet of Things and Blockchain Technology do?

Heard anything about the Internet of Things and Blockchain Technology?

Probably you haven’t; but did you know that technology is a way to the future? Both are poised to change the world in terms of technology, the moment of adapting the curve.

What is the Internet of Things?

IoT or Internet of Things is all about thousands to billions of devices that are connected to the internet, which involves collecting and sharing data; a few examples are:

  • Smart thermostat
    •    Smart car
    •    Smart TV
    •    Smart health
    •    Smart city
    •    Smart buildings

What is Blockchain of Technology?

The blockchain technology is a crucial component of cryptocurrency – without it, Bitcoin and other similar digital currencies will never exist. Typically, it keeps the record of all data transactions – where each established transaction are safely recorded into the digital ledger, which known as the block. As it records the data, signed, and verified, the transaction is added to the list of block chains and that will never be altered.

The revolutionary idea and action of blockchain and IoT in the digital world can truly change the future; thus, putting them together will bring you a secure and permanent method in recording data, which are processed by the IoT’s “smart” machines.

What does combining of blockchain and IoT do?

As mentioned, combining two big processes in the digital world will bring the nation a more advanced and brighter future; where the smart machines are able to operate and transfer data using the blockchain – a secured and smooth transfer of essential data – which is also utilized in cryptocurrency.

Security is one of the major reasons of combining blockchain and internet of things; it is not unknown to some experts that when there are failures in “smart” machines or IoT, it starts to expose vulnerable data that can ruin a business, company, and more. However, if the blockchain technology is added to most IoT devices, attackers cannot bypass layers of security, making it difficult to get into critical data.

Another vital element that blockchain can provide to the IoT ecosystem is the benefit of eliminating human oversight; this means blockchain is designed with encryption that does not allow human to overwrite any information, especially inaccurate ones.

The smart contract is another thing that makes blockchain a big factor when added to IoT equation. It provides a secured connection between the device and the consumer during transactions; for instance, authorizing payment. Taking advantage of this advancement provides you a transparent, frictionless, and untampered transaction. If you check out this reliable crypto press release, you’ll understand more about how smart blockchain is when added to IoT devices.

Lastly, one of the most notable advantages of adding blockchain technology to IoT devices is enabling all your transactions to become fast, which reduces the arrangement time.

Final Thoughts

Data transactions such as the transfer of data between multiple networks and supply chain should be secured, especially when it comes to digital currency; thus, adding blockchain to IoT devices is a smart move.

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