Hdac – IoT plus Blockchain Equals Smart and Secure Homes

cryptotaofficial (56)in #cryptocurrency • 7 years ago (edited)

At some point during the last turbulent decades when ever-increasingly sophisticated algorithms took over our lives, the computer intelligence broke free from the confines of laptops and smartphones and populated the real world. I’m talking about IoT – Internet of Things, the concept that is getting more and more popular and is about to evolve from the Sci-Fi novelty to a matter-of-fact reality surrounding us. Restaurants, maintained completely by robots, self-driving cars, smart homes self-sufficient and capable of organizing and supporting the well-being of their inhabitants – all this doesn’t sound like a technological sensation anymore; this is something we are getting used to.

While IoT is a really cool thing, that can eventually eliminate the remaining boring and routine activities that still inundate our daily lives distracting us from doing something exciting and creative; the security experts point out the dangers associated with compromising of such system. Indeed, the hacker getting access to the user’s laptop can steal valuable information and money; The hacker getting access to a smart home or a self-driving car can become a life-threatening hazard for the victim of the attack. So far most of IoT systems are centralized and have a single point, through which the whole system can be controlled. That gives the potential intruder a single vector of attack, which highly increases the vulnerability of the system.

Among various approaches to solving the security problem in IoT, including encryption, two-factor authorization, and biometric verification, one of the relatively new concepts is making the whole system decentralized, lacking the single point of failure. This is a technical solution offered by Hdac – a blockchain project created by Dae-Sun Chung, the founder of Hyundai BS&C. Hyundai is investing heavily in IoT, particularly in self-driving cars, so it has its own vital interest in finding the ways to eliminate the security risks. What Hdac has proposed is a blockchain based distributed infrastructure with HDAC tokens functioning as the keys necessary to perform each operation in the system. All the devices connected to the platform follow blockchain transaction protocol in their interactions with each other. Since the information is stored on multiple nodes, the system doesn’t have a single point of failure. Even if the hacker gets access to the system, he wouldn’t be able to control it. To draw an analogy, the traditional IoT infrastructure is like a bank with a guard at the entrance. If the intruder manages to get past the guard, there is nothing else that can stop him. In a blockchain based distributed system, it’s as if 90 percent of the people in the building should recognize the person in order for him to be properly authorized. Besides, Hdac implements more secure authentication scheme by applying a Quantum Random Number. Hdac has already successfully conducted field tests of its platform and intends to widely use this technology for smart homes. This ambition is backed by Hyundai BS&C; the company plans to build a first apartment complex with the IT infrastructure based on Hdac technology.

Features of Hdac

Features	Bitcoin Blockchain	Hdac Blockchain	Ethereum Blockchain
Main Features	Financial Transactions (Bitcoin script)	IoT friendly blockchains, Public/Private blockchains	Smart Contracts (Solidity, Serpent etc.)
Consensus Algorithm	Proof of Work	ePoW, Trust-based	Current: Proof of Work Future: CASPER PoS
Transaction Speed	7 tx/sec	~160 tx/sec (public)* ~ 500tx/sec (private) 1000 tx/sec (target)	25 tx/sec
Block Time	10 minutes	3 minutes	12 seconds
Block Size	1MB	Dynamic (Max. 8 MB)	Dynamic
Extra Data	80 Byte (OP_RETURN)	Dynamic (Max. 4 Kb)	Dynamic (5 gas / byte)
Topology	Public blockchain	Private/Public blockchains, Permissioned blockchains	Public blockchain, Permissionless blockchain