Blockchain-IoT solutions are the need of the hour for any enterprise, be it emerging (or) a business conglomerate. It’s because, though IoT has made our lives smarter, it has come with its own set of security and privacy flaws that can only be overcome by blockchain technology.
It is estimated, that by 2021, 25.1 billion IoT endpoints would have been set up across the world. As organizations are shifting towards a cost-effective, highly efficient, completely automated, and decentralized business model, the demand for blockchain IoT enterprise solutions will be huge in the upcoming year.
The major concerns of IoT platforms which affect the performance of an organization.
In IoT apps, the information processed between any two mediums is completely online. Hence, they are easily hacked by third-parties with DDoS attacks. The protection offered by Blockchain-IoT solutions effectively guards your data.
The limited wireless network capacity is subjected to vary, and sometimes even perform poorly, based on the connected endpoints. Such scalability concerns are sorted by organizations with Blockchain-IoT applications.
Since every data transaction is performed with the help of the internet, a minor bug in the operating system could simply expose your privacy to outsiders. This is how smart-homes are easily hacked.
Considering all the issues, and users’ poor understanding of the concept, the entire concept of IoT is sometimes considered unreliable. But, Blockchain integrated into IoT solutions reveals the actual potential of IoT in the workforce (or) our houses.
Learn how blockchain effectively taps into the potential of IoT.
Blockchain networks, encrypted by cryptography techniques, make it impossible to hack through the private IoT data.
Blockchain-IoT solutions, known for offering high scalability, can handle multiple IoT endpoints without any delay.
Decentralization of the IoT by blockchain-IoT solutions prevents a single point of failure and develops tamper-resistant data records.
Blockchain makes IoT systems cost-effective as smart contracts automate every function, thus reducing third-party vendors.
A decentralization network is highly transparent. Since every data processed can be viewed (but unaltered), it restores trust in IoT.
By cutting out the intermediaries, blockchain networks help in the direct transfer of data. Thus, it increases the speed of IoT systems.
Blockchain-integrated-IoT applications are expected to impact the global economy in 2025 with $11.1 trillion.
Here’s how a blockchain-integrated-IoT smart home functions. However, the functionality can be varied from one industry to another.
Blockchain-IoT solutions can be incorporated in all major sectors.
8+ years of
experience in the blockchain development industry.
100+ technical
pool of blockchain architects and developers.
Exclusive IoT
application development team.
Prompt guidance
and communication.
Exclusive project
manager for your blockchain-IoT application project.
Offshore hiring
policies.
Rigorous testing
practices.
Maintenance and
support.
Blockchain-IoT application development is the process of integrating blockchain technology into your IoT system.
Blockchain technology overcomes all the barriers encountered by IoT systems. Also, it improves the efficiency, speed, and overall performance of the system. Hence, it is suggested to integrate blockchain technology into your IoT system.
Blockchain overcomes the challenges faced by IoT and helps the system restore the following qualities.
1. Supply Chain
2. Construction
3. Pharmacy
4. Agriculture
5. Automotive Industry
6. Water Management
7. Manufacturing Units
8. Power Utilities
The future is bright for blockchain-IoT applications because they are expected to impact the global economy in 2025 with $11.1 trillion. Also, by 2030, 125 billion IoT devices will have been set up across the world.
The time required to build your blockchain-IoT application depends on your requirements. Hence, it’s subjected to vary from one blockchain-IoT application to another.
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