Many innovative pieces of technology have been developed since the 1950s, when the Digital Revolution first began. Despite being initially limited to a small number of people, the sector swiftly evolved, and the majority of the revolutionary technology became more common and affordable.
The idea of the Internet of Things (IoT) was eventually created as a result of the confluence of many forms of cutting-edge technology (such as RFID chips, sensors, and the Internet) and their greater accessibility. IoT technology represents a key shift in the Computer Age, allowing for the connection of devices other than only computers to the Internet.
At MIT, students utilized inexpensive sensors to monitor and supply a coke dispenser machine, which is considered the first instance of the Internet of Things being employed. Around 1994, when Reza Raji proposed the idea of transferring data packets in order to automate houses and factories, more development toward the IoT was made.
Microsoft and a number of other businesses started experimenting with related concepts in the 1990s, and starting in 2002, media outlets began talking about the IoT's innovations, such as the use of smart devices connected to one another while connected to a monitoring system. However, 2008, when there were more electronic gadgets connected to the Internet than ever before, is viewed by many as the formal year of birth of the Internet of Things.
Future mass automation, supervision, and control of devices will be possible thanks to the Internet of Things (IoT), which will undoubtedly enhance our daily lives and boost the productivity of numerous businesses. Cryptocurrencies have a fair chance of being a part of the IoT revolution and acting as the digital currency for the M2M economy and microtransactions. There are now only a few cryptocurrency initiatives aimed towards the IoT sector, but as technology develops quickly, there will probably be many more in the near future.