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

Hello everyone, it’s such a great honor to be part of this wonderful season 4 of cryptoAcademy. Thanks to Prof.@yohan2on for lecturing us on blockchain technology and the Internet Of Things. Below is my submission to this assignment.

Before i delve into this i will like to create this assumption, Lets say i left my hostel to class and upon reaching my class i realized that my Air-conditioner, fridge and television were on when i was coming out but here is the case i want to save energy and cost, in the past the only option i had was to walk back to my hostel to turn them off but thanks to internet of things which provides me the avenue to turn off all these devices with just a single click on my phone. So now let define Internet of Things which in my cause of writing i will be using IoT is simply the system whereby all device are connect to the internet that helps us to transfer and receive data from one to the other. A perfect example we all can testify which IOT can be used is our smart home appliances such as TV, AC, security cameras, alarms and many more, all these appliances can be operated using a single phone through an application that serves to merge its operations.

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Like we all know that there is nothing which is 100% secured in this world, the IOT is of no exception, it is not very secured because most of the devices connected to either the WiFi or the smart phone have a high risk of getting hacked by hackers. For example a smart door in my home can be accessed through the device which i have connected it to, this gives access to a hacker to open the door of my room thereby allowing him to steal all vulnerable assets in my room. I think before IOT can be fully embraced by everyone, the security issues should be looked at and strengthened.

Also compatibility is also another issue when we talk about IOT, this usually happens when manufacturers from other companies dont get their appliances able to work in the integration of the devices. For example, a Samsung device may not work with an application designed for LG appliances. If this issue of compatibility is solved i think IOT will win the hearts of everyone and every home.

Moreover, another issue with IOT is its complex nature. IOT normally deals with applications which these devices will be connected to, these applications are sometimes not user friendly which makes it difficult for people to navigate through it in order to control their devices.

FUTURE OF INTERNET OF THINGS AND WHY IT DEPENDS ON BLOCKCHAIN

Over the years the growth experienced by internet of things has been very significant and as technology continues to improve things could only get better. IoT is gradually gaining the recognition and adoption it needs and very soon IoT will be adopted by almost everybody because technology is continually improving. Knowing the fact that nothing is 100% accurate the following are some challenges that should be anticipated and how the blockchain technology will help improve its performance.

SCALABILITY

This is defined as the ability of a system to perform efficiently as growth is experienced. In the future there will surely be an increase in the number of IoT devices, this will have a negative impact on the performance of IoTs as it will be very difficult for quality performance to be maintained. This is because IoT is a centralized network which users a central server to run that is the authorize operations, save data among other things and a single server will surely need more time to complete the numerous tasks.

But when a blockchain is introduced it will help improve upon the scalability of IoTs because blockchains are decentralized and information is distributed to all nodes on the platform and verified and then stored as a block, this helps to speed up the system and ensure transparency as well.

SECURITY

Since it is centralized data is stored to a central unit or server which makes the data very vulnerable because the server can be targeted and hacked by criminals.In a case where the central server is hacked a lot of harm can be caused to the users of that system.

But on a blockchain data is encrypted and stored as blocks, this makes it very difficult for these information to be hacked and altered. So if blockchain is introduced in IoT the security of data will be very high and users will be very from cyber criminals.

COST

In centralized system a single server is used in managing and controlling the IoT system, this central server is always undergoes maintenance and other bills are incurred too, this makes it very expensive.

But on a decentralized blockchain there is no central body governing the system so less cost is incurred.

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

Filament

Filament is a company based in Reno, Novado that manufactures blockchain based software and hardware to serve as solutions for internet of things.
This company was founded in 2012 by Allison Clift-Jenning. The company uses a blockchain technology it calls blocklet. IoT devices are connected through this technology for better management and transfer of data. Filament makes it possible for IoT devices to transact or operate efficiently using a distributed ledger technology. The company is currently involved in several industries like, transportation, manufacturing, construction etc.

USE CASES OF FILAMENT IOT BLOCKCHAIN

Filament mobility blocklet

Filament in collaboration with Nevada university has introduced a city mobility project where data of self-driving vehicles are generated on the blockchain and secured in order to ensure safety.

USB blocklet

Filament has launched a USB enclave which serves as a host for several systems of IoT. When a compatible device is connected to the USB port it becomes operational on the IoT blockchain and data is secured.

MICROCHIP

Filament has developed a microchip that is implanted in IoT devices which connects it to the blockchain. The microchip ensure that these devices completes transactions based on the rules and procedures created by its operated. These devices connect and communicate on the blockchain.

CONCLUSION

I must say I really enjoyed this wonderful lecture from our noble prof. @yohan2on. IOT in a way has come to make life much easier for us. Being able to control all my home appliances on my phone without necessarily getting close to them to operate them is a big comfort. And just like I said in my post, there’s nothing in this world that doesn’t have its disadvantages. IoT even though has many advantages but it’s disadvantages is also a key factor why many people fear to use IoT. I hope you enjoyed reading my submission.

I also took some excerpts from source