Blockchain in IoT: Overcoming IoT Industry Challenges
Blockchain’s innate immutability, decentralized structure, secure encryption capabilities and consensus-based approach are the perfect solution for the challenges that the IoT industry is facing.
Resolving Slow, Unreliable IoT Networks
IoT networks are straining under the pressure of sustaining billions of connected devices. Bloated networks are increasingly suffering from downtime and poor connectivity, causing problems for users of IoT technology. Worryingly, as the number of smart devices is predicted to explode, these issues will only be exacerbated. Blockchain in IoT enables lean, scaleable networks. Plus, by connecting IoT devices to a decentralized network, performance can be enhanced as computation isn’t limited to centralized points.
Enhancing the Security of IoT Devices
Concerns around IoT security are growing. Challenges in identifying, securing and authenticating IoT devices, coupled with increasingly high-profile hacks, data leaks, and an explosion in the number of smart devices in use, have left IoT vendors scrambling to find a scaleable resolution. With its revolutionary security features, and innate immutability there’s one solution that is continually coming out on top – IoT and blockchain. Decentralized networks combined with cryptographically secured data means a blockchain and IoT combination creates a significantly more secure and resilient network for IoT devices.