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Internet of Things: Decentralizing IoT with BlockChain
Analysts forecast 30 billion interconnected objects will make up the Internet of Things (IoT) by 2020.
Currently, IoT devices typically communicate back to a single centralized server that collects data from thousands or more devices. But the problem is that a centralized architecture doesn’t scale well. Blockchain offers an alternative decentralized model that could scale better. The blockchain design provides strong protections to make sure that data is not compromised or tampered with, enabling it to provide better security than existing systems.
Hugh Ujhazy, associate vice president, Internet of Things, IDC, said that “the blockchain ecosystem provides a means of encoding events to guarantee chronology and provenance, a means of independently validating events transmitted to all nodes without a central authority and a distributed model that eliminates a single source of failure within the ecosystem. While the applications are currently formative, it has significant implications to IoT and use cases across multiple industries.”
Ahmed Banafa, lecturer at San Jose State University, said that “blockchain is promising for IoT security for the same reasons it works for cryptocurrency: It provides assurances that data is legitimate, and the process that introduces new data is well-defined”.
