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

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Introduction

The internet is the mother of both Blockchain Technology and Internet of Things (IoT). Without the existence of internet,these two technologies mentioned wouldn't have been possible.
Blockchain Technology involves encryption, distribution and storage of information in a secure,transparent and Immutable form.The Cryptocurrency World is one of the biggest applications of Blockchain Technology.
The Internet of Things (IoT) is simply a synergy between different products in one network such that the different products could be managed or controlled from a single point.For example if one can use a cell phone to on/off his home appliances.The cell phone is the central server that controls the other products.

QUESTION ONE

Explain why the Future Internet of Things(IoT) depends on Blockchain

Internet of Things (IoT) is a way of connecting different devices that have on/off switches to each other via the Internet.It is a connection of several devices to a central network upon which all the connected devices could be accessed or controlled from.This sounds like a centralized system because there is central control.The devices that could be connected via the IoT could be hardware or software devices such as self-driving cars,cooking devices,home appliances etc.
How IoT works is that the objects and devices have built-in sensors and software which enables sharing and connection of data on the IoT platforms.For example you can stay in your room and use a remote to drive in your self-driving car with the highest possible ease.From all indications,we can see that IoT requires a central unit that controls all the devices that are connected together.

Having a central server makes it easier for hackers to attack and manipulate the system.Also there would be cases of slow or low processing speed because there is only one central server.To solve the problems of insecurity,low scalability encountered by IoT,the blockchain has to step into the case.Blockchain would be a panacea to problems of IoT.

Applications of Internet of Things (IoT)

•Health Sector
Wearables and sensors are connected to patients and the doctor will use it to monitor the condition of the patient while the patience is away from the hospital.
IoT enabled beds are also used to hospitals to monitor the body temperature,heart beat,blood pressure and other things about a patient that the doctor wishes to monitor.

•Traffic Monitoring
IoT has also found application in monitoring traffic as one can use his mobile phone to connect to a vehicle on the road such that information about the nature of the road(whether free or filled with traffic) can be relayed to the person.

•Smart Appliances
With the existence of IoT,it is possible to use your phone to connected the electronic gadgets in the house and other devices.This means that switch off my television,sound system and lights simultaneously from my phone such is central server.

•Hospitality
Hotels can leverage on IoT to know when a room is empty because the electronic keys are connected in such a way that once a customers checks out,it would be detected and so the room remains free for another customer.The electronic key can also be used to know the location of the customer holding it.

Infact the application of IoT is too numerous to mention.It is still going to get better in the coming years.

Why the Future of IoT depends on Blockchain

The IoT is a centralized system and so its solution is decentralization of which the blockchain technology offers.See why the future of IoT can depend on Blockchain.

•Presence of Decentralized System:
The blockchain system is decentralized system such that there is no central server that holds or transmits information,rather data is sent to all the nodes(computers) and so it may not be possible to attack all the nodes at the same time.
IoT technology will depend on the blockchain for a distribution of data to several nodes which makes it almost impossible for a hacker to harvest all the information or manipulate it.

•Security:
IoT seems to be insecure owing to the fact that it operates on a single server.This single server could be bombarded with several volume of data request at the same time by cyber attackers,this will make the server to be unstable and it will denial eligible users of the correct services.However,the application of blockchain will make such attempt minimal or impossible.

•Speed of Transactions:
Speed of transaction problem is another area that blockchain can assist the IoT technology.The more the numbers of devices connected to an IoT network increases,the more difficult it becomes to handle because it would take longer transaction time before all the connected devices would function optimally.This can even make the IoT network to breakdown.

The good news is that Blockchain technology will solve this problem through the existence of several nodes such that the breakdown of a single node would not lead to the breakdown of the entire system.

•Compatibility:
Blockchain works with Consensus Mechanism such as Proof-of-Work, Proof-of-Stake, Delegation Proof-of-Stake etc.This Mechanisms makes it possible to the system to function effectively,because you will know the Consensus of each blockchain before applying to use it.In the case of IoT, it will help to know the devices or products that align to the same Consensus Mechanism.

•Reduced Cost:
Another reason why IoT will depend on blockchain is on the side of costs of maintenance and running of the system.Since an IoT depends on a single server, connecting many devices to the server could lead to malfunctioning, this would lead to upgrading or spending huge amount of money to procure a more advanced server that can handle the looming number of connected devices and information exchange.
With the the existence of blockchain technology, information exchange is easier with several nodes and thus the cost of procuring expensive servers is eliminated.IoT will indeed have a great future with the presence of blockchain.

Other reasons to show that the future of IoT depends on blockchain are

•Blockchain would add another level of security to IoT,this would be achieved through encryption(concealing of message) which could only be accessed by the intended user,thus making it impossible for a fraudsters or intruder to mutilate or rewrite existing or access the information.

•The transparency nature of the blockchain will make IoT much more easier for all the authorized nodes to track past/previous transactions and so leakages or problems can easily be traced,identified and information on the blockchain are transparent and open for all the nodes to see.

•Blockchain technology would bring a tamper-proof and trustless feature in the IoT network. This means that there is no need for trust among the users and as such no single node or organization has control over the data generated by the IoT devices.

In summary,the future of IoT would be bleak without the blockchain.However,if blockchain technology is introduced in IoT, the future would be more secure,private and decentralized.

QUESTION TWO

Research and Create Content on the following IoT Blockchain Use Case

FILAMENT

Filament is a tech company that is based in Reno,Nevada.They are into manufacturing of blockchain enabled solution for IoT products.They design blockchain based products which are compatible with IoT.

Filament builds a network of smart sensors for industrial purposes which aids in data collection and monitoring of assets.Since Filament solutions takes a leverage of the blockchain technology,it makes it possible for devices in a network to exchange data and interact with each other in a decentralized distributed manner through hardware and software technologies.

Some IoT blockchain use cases powered by Filament.👇

•Smart Contracts:
Smart Contracts is a permisionless feature where a transaction is made to happen automatically once the right conditions are met.This helps to spell out the number of times one IoT device can interact with another without any intervention from a third party or central authority.

•Blocklet USB Enclave:
The Blocklet USB Enclave is a brain child of Filament tech and it can slot into any USB port.Once it is plugged to the USB port,it would be used to launch any blockchain project.
There is also a Blocklet microchip powered by Filament that can also be used in a hardware device.

•Improved Scalability and Security
Scability is one of the problems of a single server network like IoT,Filament has a solution that improves the transaction and communication speed between IoT devices.Also,security is paramount for every project considering the rate of cyber attacks in the 21st filament has a distributed ledger technology that enables faster communication between IoT devices.

•Blockchain Micro transactions
Filament is leverage on the blockchain to produce a solution that can enable micro transactions by monitoring vending machines.In this arrange it will monitor when a human being is approaching the vending machine and a message would be displayed to edraw the attention of the person to buy or select the product.Imagine being thirsty and as you approach the vending machine,it would display Your cold drink is ready.

•Another one is that Filament is partnering with the University of Nevada to produce a self-driving car that will use IoT and blockchain synergism.For the car, blockchain would be part of the network that will connect the car to other wider networks.source

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Conclusion

Internet of Things (IoT) is a technology that is just new like the blockchain technology.It will help to make life easier and fun.However,its future is still hanging on the balance but it would be very effective when integrated with blockchain because the blockchain will make it more decentralized,secure, Immutable and more scalable.Only time will tell of what the future of IoT would be.

Cc:@yohan2on