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Why the Internet of Things and blockchain are the best partners?
Source:Original | Author:Calio Huang of C&T RF Antennas Inc | Publish time: 2019-05-24 | 189 Views | Share:


Introduction: Blockchain is just one of the core technologies behind Bitcoin, and Bitcoin is an application of blockchain technology. Blockchain is now becoming a key solution for the development of other technologies such as the Internet of Things.

Why the Internet of Things and blockchain are the best partners

Perhaps you have heard that the blockchain is a "new type of Internet", and cryptocurrencies such as bitcoin are "new gold." These hot topics are so closely linked that many people think that blockchain and bitcoin are one thing. But the blockchain is just one of the core technologies behind Bitcoin, and Bitcoin is an application of blockchain technology.

Blockchain is now becoming a key solution for the development of other technologies such as the Internet of Things. Soon, 30 billion IoT “things” will be put into use.

It turns out that how to effectively connect, collect, exchange, and manage all of this data while ensuring its security in an ever-expanding IoT network is a huge challenge.

This is where the blockchain comes in: the same characteristics that blockchains are important for cryptocurrencies, and why they are so valuable to the Internet of Things; blockchains convince users that sensitive and valuable data can be used globally Propagating in the network and remaining completely secure and immutable; blockchain can achieve trust and be more efficient through interconnection. This is a question of trust.

In the blockchain, transaction data is split into "blocks" that are "linked" together by a unique 64-character digital signature, which is then separated and sent over a computer network.

When using the blockchain, transaction data is shared not only with the participants but also with all parties in the network. This network can be public, anyone can participate, such as bitcoin, or get a license, such as a food safety network.

When each transaction is approved by the network, the associated transaction block will become part of the existing chain, not only in the ledger of the trading participant but also in all ledgers.