Hello Steemians, you are welcome to read @jasminemary post. In this post, I have discussed the internet of things as part of my entry to the contest organized in the SteemitCryptoAcademy community.
Explain in your own words, what is IoT?
In my own words, "IoT" stands for "internet of things." IoT is known as a network of connected computing devices, digital machinery, and mechanical items such as animals or people that may exchange data across a network without requiring human-to-human interaction.
In addition to what I have said, the "Internet of Things," most especially the "T thing," refers to any natural or artificial object that can be given an Internet Protocol.
How IoT functions
The IoT consists of web-enabled smart devices that use embedded systems, such as communication equipment, processors, and sensors to collect, send, and act on the information they receive.
Friends, these devices converse with other similar devices on occasion, acting on the data they exchange. Although individuals like you and me can engage with the devices to set them up, give them instructions, or retrieve the data, the devices accomplish the majority of the job without their help. This is how IoT functions.
What impact does the blockchain have on the Internet of Things?
Blockchain has a lot of impact on the Internet of Things since the two work hand in hand to solve many issues confronting the use of international. Blockchain can impact the internet of things by providing a good infrastructure that will enable two devices to exchange property, like smart contracts. With this kind of impact, people would be allowed to interact together without the need for any centralized authority.
Also, blockchain has the power to increase security and thwart hackers on the internet. With the combination of blockchain and the Internet of Things, it will be possible to create connected systems anywhere. To this end, blockchain will impact the Internet of Things by making it fully decentralized instead of a centralized device.
What benefits does blockchain offer to the Internet of Things?
Security and privacy are the main benefits that blockchain offers the Internet of Things, among the many other benefits of doing so. We can profit from blockchain adoption in IoT across all facets of our lives. Blockchain technology, for instance, can be employed in the food business, and IoT systems built on it may be used to monitor food safety.
Similar to smart factories, smart contracts would benefit from this technology. Public schools, universities, and hospitals may potentially adopt blockchain-based IoT technologies. A smart phone app would allow parents to see their child's improvement in school. Parents might contact teachers for feedback and to report inappropriate behavior by their children.
Explain two applications of IoT and blockchain.
Where I will be explaining these two applications called "community solar" and "shared machinery,"
Community Solar:
Currently, there is an ongoing experiment in Brooklyn, NY, to start making use of a blockchain to record the production of solar energy and allow people to purchase and renew their solar energy through the use of their credit cards.
Pixaby
This application has its own identity, and it has the capacity to build a reputation through its history of transactions and records. With this type of application of IoT and blockchain, people can easily calculate, sum up their purchasing power, share the burden of maintenance, and have full trust that the device they are using is actually recording and the solar will provide accurate results.
Shared Machinery
Machines like 3D printers, woodworking, and laser cutting tools are common in maker spaces all over the world. A blockchain system might make it possible for people to jointly own and use these tools. When using a laser cutter to create an embroidery design on a leather bomber jacket, smart contracts might check a person's reputation to see if they had the right kind of standing. The machine's regulations will be determined by the agreements the owners have made and how those agreements are currently holding up.
Smart contracts that determine a user's eligibility to utilize a shared maple sugar processing machine based on their community credit balance may be in charge of the machine. They have the option of gaining points by allowing community members to utilize a tractor or another shared resource.
Explain a blockchain project that relates to IoT.
When it comes to blockchain projects that relate to IoT, there are many companies making meaningful projects. In this post, I have only explained two substantial blockchain projects that relate to the IoT.
IOTEX.IO
Screenshot from iotex.io
IoTeX was established in 2017 and is run by a group of scientists and engineers that have previously held positions at Google, Uber, Oracle, Facebook, and Bosh. Additionally, it oversees IoT working groups for well-known international associations like the IEEE and the II Consortium.
A decentralized platform called IOTEX.IO, which was established in 2017, is a blockchain platform that enables programmers, companies, and producers of smart devices to develop dApps that users may use to monetize their data.
IOTEX.IO enables safe data sharing, authentication, and payments between devices using blockchain technology, chain-agnostic developer tools, and smart contracts.
A native token created by IOTEX called IOTX is also used to pay for services on the open-source network. In addition to this, IOTEX.IO is a blockchain project that is related to IoT.
Helium
A decentralized WiFi network called Helium is designed for Internet of Things (IoT) smart machines and gadgets. It runs on cryptocurrencies. Its network is connected by gadgets that a global user community owns.
Helium
Source
The Helium network allows users to mine Helium tokens by extending the decentralized WiFi network with Helium hot spots, which are antennas with long-range radio frequency transmission capabilities. In addition to this, the Helium Network is a blockchain network that is related to IoT.
I am inviting @simonnwigwe, @preye2 and @temitopef
Nice article you have presented to us here friend, and am impressed at your work.
Blockchain allows for real-time updates of data stored in its ledger, and this makes it an ideal platform for managing large volumes of data on the IoT, as businesses can be sure that all data is up-to-date and accurate.
Blockchain equally provides a robust platform for managing and storing data on the IoT, providing businesses with greater confidence that their data is secure. The use of blockchain technology in the IoT is likely to continue to grow as businesses become more aware of its many benefits.
This innovation is really interesting I must commend, and even more interesting to know that it can build a reputation through its history of transactions and records.
Thanks for sharing such an important article friend, and goodluck in this contest.
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I appreciate your time here sir. Thank you for stopping by.
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Well explained the topic "Internet of Things and the Blockchain" @jasminemary.
You have good knowledge on this topic and the projects you choose as an example.
I wish you best of luck for the contest :)
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I appreciate your contribution here my dear friend.
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Hello @jasminemary
I agree with you in the fact that security would be higher in this case, using the Blockchain, as well as privacy, although in the same way they could create database through this, there privacy would be compromised.
The Helium network, I know it, some months ago I investigated about it and I was thinking of participating in the network, however, after making some calculations it did not seem very convenient economically, although the project is undoubtedly very interesting.
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I appreciate your comment here and for the review you have share about the Helium network. I have learn from you.
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Internet of things is one of the most important innovations in this century that many people can look back and share how it has made difference in their lives compared to some years ago.
With the IoT, people can interact with their properties remotely without having physical contact. I have watched how people light up their household bulbs remotely, off it, and even play music on devices by using their voice. All these does not need a physical contact and that's the power of IoT. I wish you the best my friend.
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