IoT (Internet of Things) accelerated by the blockchain technology makes it faster and more secure

IoT or Internet-Of-Things is a technology best used for connecting people, products, and places. This advanced technology offers certain opportunities in terms of value creation that includes the use of complicated chips, sensors, and actuators. With the combination of blockchain technology and IoT, there is a huge potential for development in different sectors like finance, logistics, and several others to be counted.

According to ITSpectrum, blockchain is a simple and distributed network holding millions of users across the globe, and every user of the network can easily add information to the network and the data is strictly secured using cryptography. The most interesting thing about this technology is that every member of the network is validated before being added to the network in real-time. The entire process of securing data is completed using a system of keys such as private, public, and the receiver.

The potent combination of IoT and the blockchain technology can resolve some of the security challenges like –

• Internet-Of-Things does help in processing data transactions across multiple devices that are usually administered by multiple organizations which may otherwise make it challenging to pinpoint any data leakages. With the integration of blockchain technology, it will help in lessening any type of data leakage.

• Blockchain being a distributed ledger technology is tamper-proof and eliminates the need for any intermediaries. By combining blockchain and IoT, companies or organizations will have total control over the immense data generated and transmitted online across multiple IoT devices.

• The use of blockchain technology for storing IoT data does add another security layer that cannot be easily breached by hackers. In order to breach the security layers, the hackers will have to bypass which is quite impossible.

• As suggest by ITSpectrum, integration of blockchain with IoT calls for ease of transactions with increased speed and accuracy within multiple IoT devices. With a growing number of interconnected IoT devices, the distributed ledger technology is an added advantage in terms of processing multiple transactions at once.

• Blockchain technology provides transparency in terms of providing access to only the authorized person in the network. This way it becomes easier to track transactions with a detailed transaction history.

Integration both blockchain with Internet-Of-Things provides a reliable source to identify any specific source of data leakages and can help in taking quick action in real-time. As per a blockchain Development Company in Kolkata, there are certain emerging trends of IoT to be followed such as –

• Increase in use of multiple IoT devices

ITSpectrum is a leading IT service provider in the market and suggests that the total number of IoT devices will quadruple all across the world. Simply speaking, it is not just the count of a number of connected devices which is rising but also the types of devices that are connected as well.

• Increase in number of device connections

The future of IoT can be predicted as it can provide a smarter environment for the devices which will ultimately lead to more connections in the network. However, the availability and efficiency of new smart devices could make the IoT devices quite vulnerable and there could be a possibility of a cyber attack.

• Implication of Cloud and Edge computing systems

As per the emerging IoT trends, it is quite evident that the IoT devices were relying on the cloud storage of data services. But now the scene is changing for a better future and the application development industry is beginning to utilize the Cloud and Edge computing network.

• SaaS will emerge as a common norm

SaaS or software as a service will become more beneficial for most of the cloud-based computing companies. SaaS will be in high demand with many businesses and it is also part of the IoT trends.

According to a blockchain development company in Kolkata, combination of blockchain and IoT can be quite helpful as both are emerging technologies with great potential. As it is totally new to the market so will take a bit more time span to be utilized the way it should be. However, there are several companies’ organizations that are already experimenting on the combination of the two technologies, as together they have a huge potential and could offer a way to minimize risks and security breaches associated with different online business processes.