How Can Blockchain Accelerate IoT? A blog about how IoT and blockchain can work together.

The exploding growth of the Internet of Things (IoT) is creating a lot of exciting opportunities. The increasing deployment of smart devices has created a need for technologies that can offer secure connections and sharing between these devices. This is why blockchain technology has become more relevant than ever, as it can address such crucial issues while enabling new functionalities by leveraging the strengths of both IoT and blockchain technology.

In this article, I'll discuss how blockchain can address current challenges in the IoT space, and will also outline several ways in which new technology can be used to connect smart devices through blockchain networks.

Blockchain and the Internet of Things

Blockchain is a distributed ledger with enormous potential applications in many sectors. While much has been written about blockchain's use in DeFI, payments, logistics and identification, there are also promising developments in the Internet of Things (IoT) space that demonstrates how this innovative technology can be used to connect smart devices through blockchain networks.

The difference between current IoT systems and the new ones based on blockchain technology lies in the application layer. We can call current IoT systems a kind of groupware, which is less secure than the systems based on blockchain. Therefore, in the information systems built with Ethereum and other blockchains, these problems do not arise.?

It's this decentralization that enables the blockchain to be an important part of Internet of Things by ensuring that all devices can communicate with one another without going through a centralized authority.

Challenges with the Internet of Things

One of the most fundamental challenges of the internet of things is security. IoT devices tend to deal with some very sensitive information and data, which makes them even more dangerous if they are hacked into.

The risks associated with IoT are many and varied. There's the risk of malicious intent by external hackers or attackers, as well as the risk that new devices will be added to existing networks without proper security precautions in place. And then there's the danger that some new devices may be built with security issues already coded into them by developers who don't have a full grasp on how to keep their systems safe from outside attacks.

How Can blockchain help solve this?

Blockchain will enable device-to-device communication and transaction settlement in real-time, removing the need for human intervention. This makes it possible for smart devices to detect problems before they escalate into larger crises. This technology can also ensure that devices are autonomous and cannot be controlled by hackers. Which could lead IoT devices to become more secure, tamper-proof, and verifiable.

The biggest benefits of blockchain for IoT are not only reducing cost and complexity but also securing our smart devices better than ever before.

Current IoT blockchain solutions

Helium Is a San Francisco, California-based IoT blockchain startup known as the first decentralized machine network in the world. Helium was launched in 2019 as an open-source blockchain network designed to power Internet of Things (IoT) devices with wireless connectivity

Their mission is to leverage the power of wireless technology and blockchain to build the People’s Network - the world’s first peer-to-peer wireless network that empowers anyone to become a network operator and unleash new classes of devices and applications that are impossible today. This will come to fruition as a result of individuals, neighborhoods, and communities building this new network.

Helium's network is currently live and one of the fastest-growing wireless networks in the market, with upwards of 500k devices launched in less than 2 years. I would heavily recommend checking out what Helium is doing here and taking a look at their coverage network on Helium Explorer.

Takeaway: There's still much to be explored and developed with regard to how IoT and blockchain can work together to create value for everyone on the network. The future of IoT is set to be decentralized and built upon blockchain technology.

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