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Why should you integrate Blockchain into IoT?

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.

How Blockchain tackles the barriers in IoT Applications?

The major concerns of IoT platforms which affect the performance of an organization.

Data Breach

Data Breach

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.

Low Network Capacity

Low Network Capacity

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.

Privacy Issues

Privacy Issues

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.

Unreliable

Unreliable

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.

Benefits of Blockchain-IoT Applications

Learn how blockchain effectively taps into the potential of IoT.

Security

Security

Blockchain networks, encrypted by cryptography techniques, make it impossible to hack through the private IoT data.

Scalability

Scalability

Blockchain-IoT solutions, known for offering high scalability, can handle multiple IoT endpoints without any delay.

Decentralization

Decentralization

Decentralization of the IoT by blockchain-IoT solutions prevents a single point of failure and develops tamper-resistant data records.

Smart Contracts

Smart Contracts

Blockchain makes IoT systems cost-effective as smart contracts automate every function, thus reducing third-party vendors.

Accountability

Accountability

A decentralization network is highly transparent. Since every data processed can be viewed (but unaltered), it restores trust in IoT.

Speed

Speed

By cutting out the intermediaries, blockchain networks help in the direct transfer of data. Thus, it increases the speed of IoT systems.

Future of Blockchain-IoT Applications

Blockchain-integrated-IoT applications are expected to impact the global economy in 2025 with $11.1 trillion.

Future of Blockchain-IoT Applications

Process flow of Blockchain-IoT Application

Here’s how a blockchain-integrated-IoT smart home functions. However, the functionality can be varied from one industry to another.

iot

Blockchain integrated IoT solutions for Industries

Blockchain-IoT solutions can be incorporated in all major sectors.

Supply Chain

Supply Chain

Construction

Construction

Pharmacy

Pharmacy

Agriculture

Agriculture

Automotive Industry

Automotive Industry

Water Management

Water Management

Manufacturing Units

Manufacturing Units

Power Utilities

Power Utilities

Why Blockchainappsdeveloper for Blockchain-IoT solutions?

check 8+ years of experience in the blockchain development industry.

check 100+ technical pool of blockchain architects and developers.

check Exclusive IoT application development team.

check Prompt guidance and communication.

check Exclusive project manager for your blockchain-IoT application project.

check Offshore hiring policies.

check Rigorous testing practices.

check Maintenance and support.

Hope you had a quick note on Blockchain IOT. Let us have a brief discussion here.

FAQ

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.

  • Security
  • Scalability
  • Decentralization
  • Smart Contract
  • Accountability
  • Speed.

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.

Sure. From developers to digital marketing analysts, you can hire our resources exclusively for your blockchain-IoT application development and marketing activities.

The cost of developing a blockchain-IoT application depends on the clients’ requirements. Hence, it varies from one blockchain-IoT application to another.


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