Blockchain + Internet of things is a perfect match

Time:2020-3-24

Blockchain can be said to be right now. Now all walks of life have begun to lay out blockchain. With the opening of national policies, the spring of blockchain really comes.

Some people say that the perfect combination of IOT (Internet of things) and blockchain (blockchain) technology is the foundation of the new Internet, so our current era is also known as the Web 3.0 era. Compared with the early Internet era, the content of the Web2.0 era has no specific boundaries, but by the equal participation of the whole people. Any person’s speech or opinion on the Internet will produce information.

With the emergence of decentralized network services, the characteristics of Web2.0 become more and more significant. For example, the birth of services more suitable for ordinary Internet users, such as twitter and Facebook, makes it easier and more diversified to produce or contribute content to the Internet, thus enhancing the enthusiasm of Internet users to participate in the contribution and reducing the threshold of producing content.

Decentralization is not the absence of the center, but the free choice and decision of the center by the nodes. In short, centralization means that the center decides the node. The node must depend on the center, and it cannot survive without the center. In the decentralized system, anyone is a node, and anyone can be a center. Any center is not permanent, but phased, and no center is mandatory for nodes.

So what makes blockchain and IOT so special and important in many technologies? It can bring a new technology era to the world.

1、 Internet of things (IOT)

The Internet of things is just a network of physical devices embedded with electronics, software, sensors, actuators and connecting hardware. The accessories of these devices enable them to connect and exchange data when necessary. Applications of the Internet of things include:

1. Smart home system

2. Smart car

3. Smart grid

……..

At present, most of the IOT architectures need a central hub or server to allow data storage and transmission between several devices in the network space. The Internet of things is no exception. Through the blockchain technology, we will learn from each other’s strengths and complement each other’s weaknesses on the Internet of things and make a reasonable match.

According to an independent study reported by Forbes, the global Internet of things market is expected to triple from $157 billion in 2016 to $457 billion in 2020. Only four years! Average annual growth rate 75%

2、 Blockchain

Blockchain is a list of records linked and protected by encryption technology. These records grow continuously and are stored in a system composed of all nodes of a specific network.

Blockchain stores data in a central server in the network through technical means. Once the data is recorded in the block, it will not be reversible.

Nowadays, blockchain technology is used in all walks of life. Include:

1. Financial industry and cryptocurrency

2. Data storage and transmission

3. Smart Property

4. Smart contract

……

Blockchain will add $3.1 trillion in business value by 2030, according to a Gartner study. This is a very important new market.

3、 Web 3.0: blockchain and Internet of things – value Internet of things

The perfect combination of blockchain and IOT creates new vitality for Web3.0 in the Internet era.

1. Big data management

When many different devices on the network continuously collect data, the amount of data is very large. And the Internet of things system is managed by the central service manager, so the system will be responsible for thousands or even tens of thousands of devices.

So, with such a large amount of data, the system must have a storage device that can handle all data, a powerful data processing system and an efficient mobile phone and delivery system. It seems simple, but the acquisition and maintenance of these three resources are not smooth sailing, and both cost and technology are very challenging.

Blockchain technology solves this problem to some extent. In the blockchain network, there is no central server, and each node has its own data copy, which can be processed independently.

After obtaining the transfer parameters, the system will compare other nodes in the network with the transfer parameters. If the parameters are consistent, a consensus will be reached and the transaction can be processed. In fact, the Internet of things can imitate the blockchain method to eliminate all kinds of problems brought by the central server.

2. Security and privacy are more guaranteed

The biggest defect of centralized system is that data collection and processing should be stored in the central server. If the central server fails, all devices connected to it will stop responding. In addition, once the central server is hacked, all the data stored in it will be destroyed.

Blockchain network takes advantage of advantages and avoids disadvantages. All data in the network is encrypted and saved. Only nodes participating in the network can access it. And the nodes of network verification must be consistent, so that the data cannot be tampered with.

In addition, the data in the blockchain is stored in a distributed way, so that even if the server lags behind, the device will operate normally. It is almost impossible to achieve anything without blockchain, but precisely because of blockchain, IOT devices do not need to be connected through a third party. They can generate point-to-point connections to build trust

3. Lower cost and more stable system

Servers used in the infrastructure of the Internet of things are dedicated. In terms of specialty, the product price is relatively expensive. The use of distributed accounting system eliminates the use of central server, which in turn reduces the overall cost of the system. More importantly, these servers are very expensive to maintain because of their unique design and professional execution capabilities. Using distributed systems will save a lot of money.

Moreover, from the perspective of environmental protection, the operation of the Internet of things in the blockchain is green. Because the traditional central server is very power consuming, sometimes it needs additional equipment to cool it.

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