The Internet of Things (IoT) emerged as a result of these advances, where various innovative devices, such as RFID chips, sensors, and the internet, enable objects other than computers to connect to the internet. This article will discuss the use of blockchain in the IoT field. Let's take a look!
History of IoT
First implemented at MIT, students used cheap sensors to monitor their Coca-Cola dispensers. Further IoT developments emerged in 1994, when Reza Raji published an article proposing the idea of automating homes and factories by sending data packets.
2008 is considered the dawn of the IoT industry, with more electronic devices connected to the internet than humans.
How IoT Works
IoT involves physical devices and objects connected through a network of sensors and non-computer devices. This allows the device to communicate with computers and other devices over the internet. Examples include thermostats, heart rate monitors, and security systems.
IoT for Personal Use and Localization
In a smart home, devices track and control lights, cooling, heating, and security systems. The use of real-time sensors can improve the quality of life for elderly or disabled people.
IoT for Commercial and Industrial Use
In industry, IoT is used to track environmental conditions, inventory, and production processes. For example, farmers can use sensors to ensure their livestock have enough food and water.
Disadvantages of IoT
The number of connected devices and reliance on an internet connection can be a challenge. Several companies are creating ecosystems of controllers and hubs that facilitate controlling devices on a single platform.
Examples of IoT Based Crypto Projects
IoT often involves financial transactions between digital objects, creating demand for IoT currency. Blockchain is considered a suitable basic framework for the machine-to-machine (M2M) economy.
Projects like IOTA use tangles, not blockchain, to process microtransactions.
Conclusion
IoT brings major changes in automating and controlling devices. Digital currencies can play an important role in microtransactions and the M2M economy.
While technical challenges remain, projects like IOTA offer innovative solutions that have the potential to transform the economics of IoT and M2M.
Also read
What is Mainnet in Blockchain & Why is it Important?
The Use of Blockchain in the Health, Health and Treatment Sector is Now Easier
A Brief History of Blockchain Technology from the Beginning to Today
What Makes a Blockchain Secure? Listen to the explanation!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.