Topic: [2016-08-18] Can Blockchain Propel the Internet of Things? (Read 242 times)
Some would argue it could well be the Tangle rather than the Blockchain as the primary backbone of the Internet of Things. It will require support for a vast amount of micropayments, which can be a little clunky and resource-intensive on a blockchain. But the two should, in theory, be able to interlink on some level, so both can have their place. The Blockchain would serve better as a final settlement layer, but for the billions of tiny transactions going back and forth, the more nimble Tangle is better suited.
The Internet of Things (IoT) enables connectivity between devices and sharing of information but presents unique security issues; for instance, the potential for data to be stolen and the possibility of hacking to spoof the output of connected devices. While there is estimated to be 20-200 billion connected devices by 2020, this developing industry still lacks a standardized security system. While companies such as IBM are exploring the role of blockchain in protecting IoT infrastructures, Chain of Things is a consortium that has arisen to discover whether or not the blockchain can solve the security threat faced by the IoT...
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https://btcmanager.com/news/can-blockchain-technology-propel-the-internet-of-things/
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Read more here:
https://btcmanager.com/news/can-blockchain-technology-propel-the-internet-of-things/
Follow BTCMANAGER for the Latest on Fintech, Blockchain and Bitcoin!
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