The Internet of Things (IoT) means the internet-connected devices or objects which are capable of exchanging data and instructions over a wireless network of the internet.
Modern computers, smart speakers, smartwatches, and smartphones can be considered as the basics of IoT. Along with increasing modernization, the use cases of IoT devices are also increasing day by day in every field. There is a wide range of applications of IoT technology to make lives easier.
For example, IoT devices are used in the healthcare system, cryptocurrency mining, machine learning technology, agricultural products' analytics, gaming, manufacturing, trading, and many more.
Despite rapid advancements in IoT technology in this modern world, there are some significant challenges that IoT is currently facing.
Researchers have attempted to find some solutions but most of the challenges are remaining unaddressed. IoT security, privacy, and scalability have always been the most notable challenges which have to be solved to accelerate the large-scale adoption of IoT devices.
Challenges that IoT is facing:
If so many IoT devices with security vulnerabilities are connected to the central servers, hackers can easily exploit the weakest security layers to launch DDoS attacks and users should be compelled to lose their very sensitive data.
Another notorious challenge for the IoT technology in the centralized system is scalability. If so many nodes are connected to the central server, it has to exchange a very large amount of information and data to all connected IoT devices and according to the growing devices, there will be an overload on the central server to cause the failure.
So it is necessary to put huge resources and investments to manage the central servers otherwise once the central server goes offline, entire IoT devices(Which are connected to the central server) get affected.
Based on the computer's foundational technology, another groundbreaking blockchain technology evolved by introducing Bitcoin in this world.
Bitcoin was created to provide financial freedom to everyone by letting users send, hold and receive Bitcoin that is based on the Peer-to-Peer networks without the central servers or the entity.
The Bitcoin blockchain network inspired to evolve another blockchain Ethereum and it was the first blockchain to introduce a smart-contract feature. Following features of blockchain technology was the game-changer even for the IoT technology.
Blockchain as the Distributed Ledger Technology(DLT), information and data are validated before including them into the blocks then broadcasted to all participating nodes which are connected to the P2P network.
Proof-of-Work(PoW) based blockchains have the system to achieve consensus according to more than 50% verifications in favor which is the beauty of the decentralized blockchain network and it can be the best suit feature to secure the IoT devices too as the attackers can not hack all the participating nodes by using the limited resources.
There are five generations of blockchain technology(A systematic study of five generations of blockchain technology can be found in this article) and blockchains from the first three-generation were able to do the following things to solve the most discussed security, trust, and scalability(for some extend) challenges.
These are some applications of blockchains from the first three-generation but actually, they were not enough to solve the major challenges of the IoT technology which are hindering the large scale adoption due to the following limitations of the blockchains of the previous three generations:
The following challenges shown in the figure were not solved by the first three generations of blockchain technology:
Fourth generations of blockchains like Polkadot and EOS helped the adoption of IoT technology due to their following features:
Despite so many interesting features from the fourth-generation blockchain technology, they are still unable to properly address the major challenges of IoT technology.
They are unable to provide desired scalability and flexibility to integrate the IoT networks with the blockchain. So still they have limitations to assist the mass adoption trend of the IoT.
So fifth generation of blockchain technology is evolved with the birth of the Free TON blockchain network. The Free TON has a lightweight blockchain architecture that can be very useful for IoT to eliminate the overhead of blockchain while maintaining the solutions for security and privacy.
Let's figure out pointwise how Free TON has the potential to accelerate the mass adoption of IoT technology:
So Free TON can meet all of the following objectives of Blockchain network in IoT applications:
Real-world applications of Free TON can be seen in the following diagram which is the key to inspire the IoT adoption trends:
Free TON solved the major challenges of adopting the blockchain in IoT applications but still, a few challenges remain unaddressed due to the fact, IoT covers a wider range of real-world applications which can go beyond our imagination. tamper-proof malicious attackers can analyze the publicly available transactions history in the blockchain to detect the users or the IoT devices so the advanced AI-enabled next-generation blockchain can be the best option to solve any sort of persisting challenges in the adoption of IoT applications.
The combination of the advanced and the next generation of blockchain technologies with the IoT sector has the incredible potential and applications of creating the global marketplace. Blockchain technology can meet the demands of a wider range of IoT applications like smart cities, healthcare systems, identity management, voting, smart home, and many more. Blockchain technology can assist the mass adoption of IoT by overcoming so many challenges.