Crypto Academy / Season 4 / Week 1 - Homework Post for [@yohan2on] ― Blockchain Technology and the Internet of Things (IoT)

Hello! Steemians, I am @masumrbd. In Steemit Crypto Academy Season-4, Week-1 is running. Now, I am writing my homework task about "Blockchain Technology and the Internet of Things (IoT)" for professor @yohan2on. Let's get started:

1 - Explain why the future Internet of Things depends on Blockchain.

Internet of Things (IoT)

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Kevin Ashton introduced the term Internet of Things (IoT) in 1999. Internet of Things is a system that comprises a network that connects and exchanges data with other devices to further improve our quality of life.

These devices are embedded with communication hardware, sensors, software, and other technologies that interact with the system, send and receive data as needed. The devices can interact with each other without humans or computers because of their unique identifiers.

The Internet of Things (IoT) concept is becoming popular day by day and will be widely adopted worldwide one day.

Some examples of Internet of Things (IoT) applications are-

• CCTV cameras have been installed in the house and what is happening in the house can be seen on the smartphone from a distance.

• Sensor-based door, the door that opens automatically when someone comes and stands in front of it.

• Smartwatch can be used to find out how physical fitness is.

• A kind of sensor is installed in the water pump. When the tank is empty, the water pump starts and fills the tank.

• The smartphone is used to switch on and off the smart fan, also the speed of the fan can be reduced and increased.

The future of the Internet of Things (IoT)-

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Earlier, the lack of cost and relevant technology hampered the development of the Internet of Things (IoT). But now due to the radical change in technology, the development of the Internet of Things (IoT) is going very well. People are now becoming dependent on them and adopting them day by day. Because the Internet of Things (IoT) is adding a new dimension to our daily activities.

Internet of Things (IoT) will give us many benefits in the future so many people will accept it. The reliability of Internet of Things (IoT) applications and devices will continue to grow. But here are some challenges, I tried to discuss them below-

Security

Security is a very important issue, but the information shared here can be easily hacked by hackers. Decryption is not required when transferring data between IoT devices, so information is exchanged in a simple way. So hackers have the potential to steal them.

Scalability

Scalability is another challenge because as the number of devices in the centralized system increases, various types of problems will continue to occur. The centralized server needs to be maintained and managed. So the effect of increasing the number of devices will increase the inability of the system.

Compatibility

IoT devices are not made by a single company, they are made by different companies. In this case device compatibility is a challenge. Because one company's IoT will not be compatible with another company's IoT devices, this will hamper the efficiency of IoT applications.

The reason of the future IoT will depend on Blockchain

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Blockchain technology can solve a variety of IoT problems. Blockchain technology is highly secured and ideal for IoT. The current problems can be overcome using blockchain technology.

The message is encrypted and sent to the blockchain. Hackers can do no harm even if they get the encrypted code because it can only be decrypted by the desired customer. So Blockchain can provide much more security in the case of the Internet of Things (IoT).

Blockchain overcomes the future of the Internet of Things (IoT) challenges

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Security

Blockchain technology has encryption and decryption systems for data transfer. Due to which the sender encrypts and sends the data and it is only decrypted by going to the receiver and the receiver can take access to the data. It is very secured and uses cryptographic hash functions which are impossible to hack.

Scalability

Blockchain's Proof of Stake (PoS) technology must be used to solve scalability problems. By doing this the adoption of IoT can be greatly increased. Then there will be no more scalability problems.

Compatibility

Blockchain's consensus algorithm will be very useful to solve the compatibility challenge. The Consensus algorithm will determine compatibility by setting the required values for the component device. Compatibility between devices is very important. A consensus algorithm is a solution to the compatibility challenge.

2 - Research and create content on the following IoT Blockchain use case.

• Filament

FILAMENT

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Source

The Filament is a Blockchain-based tech company founded in 2012 by Allison Clift-Jennings. The company manufactures hardware and software based on Blockchain within the Internet of Things (IoT) network. This is the leading company in this section.

The Filament is the solution to enterprise problems. It also collaborates with major companies in the current world such as the automated vehicle sector, artificial intelligence, energy sector, and many other sectors. They join the Enterprise Ethereum Alliance (EEA) that is an Ethereum-based technology.

Blockchain and IoT based use cases of Filament

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1- Manufacturing Blockchain-based IoT compatible products

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Filament works with many large companies. Companies design their blockchain-based devices with Filament. Not just hardware, these devices need compatible software which also has the advantage of Filament.

2- In the insurance field

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In the case of insurance, it is very important to keep a record of the data. If the data is kept in a centralized way, it can be hacked or deleted. So in this case Blockchain will be very useful. Data can be easily saved through smart contacts in the blockchain. Data can be accessed in smart contacts and cannot be altered. Also, CCTV footage of different periods may be very much needed. To avoid unintended dangers, therefore, records are kept.

3- In the manufacturing industry

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At present, the use of technology is improving day by day. Change is our standard of living. With the Industrial Revolution, the use of high-quality Internet of Things (IoT) has made our lives easier. The discovery of some IoTs such as Artificial Intelligence is astonishing. Something new has been done by connecting them through Blockchain. Through smart contract, we manage more different types of activities like product manufacturing, buyers and sellers list, employees salary, etc.

4- Scalability

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Filament is able to provide scalability because of its Distributed Ledger Technology (DLT) to the industrial Internet of Things (IoT) users and enhance the speed of work. The Block lets produced by Filament creates an opportunity for IoT device producers and allow the producers to store and compute Internet of Things (IoT) and blockchain-based data transactions.

Conclusion

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Internet of Things (IoT) is a revolutionary concept of this era and changing the world. The future of the Internet of Things (IoT) is dependent on Blockchain. Blockchain technology with the Internet of Things (IoT) allows secured data transaction, privacy and speed also able to solve problems like scalability and compatibility. Blockchain technology makes human life secured and easy.

Filament is a tech company that works with IoT and Blockchain technologies. They manufacture hardware and software for industrial use based on Blockchain technology. Filament adopted the Blockchain technology within the IoT network. It is the solution to enterprise problems. It also collaborates with major companies in the current world such as the automated vehicle sector, artificial intelligence, energy sector, and many other sectors

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Best Regards,
@masumrbd