Ethereum to empower the IoT ecosystem
Ethereum can become the fuel of the future IoT ecosystem.
One of the risks associated with the Internet of Thing is the security problem. Security of the data is paramount in the organizations and businesses, a distributed ledger may be what the IoT needs. In the IoT era, millions of devices talks to each other, this communication must be done in a secure way.
With the Ethereum Blockchain technology, devices can freely transact, a washer machine can request more detergent to the convenience store, doing automatic payment as needed. In the future, hyper-interconnected smart objects will have the ability to request and communicate information.
Ethereum blockchain allows transactions with low confirmation times, the big innovation of this Blockchain compared to the Bitcoin one is the possibility to create and deploy "Smart Contracts" which are programs that perform execution in a decentralized, distributed way, removing the possibility of downtime and censorship.
Companies and businesses wanting to adapt to the Internet of Things paradigm will have complexities problems, sure enough, coordinating millions of devices with multiple technologies is a prodigious tasks, programming smart contracts to allow these devices to transact will be an even more complex goal.