Internet of things (IoT) and Blockchain

This New Paradigm is the Blockchain
There has already been a big change. The technology has evolved. Personal computers became inadequate due to growth. Blockchain is a large bookkeeping system on blocks chained together and run by independent algorithms (scripts) automatically without bookkeepers. It becomes more and more complicated with every transaction. In fact they become so complex due to volume, people can't decode them at some point to find possible errors. Of course people are involved who are called Blockchain Miners. People who wish to be miners used to do it on their own computers. Now the system is so vast they have to go with where ever. They have to pay a fee depending on the size. Some of it goes for cost of electricity, with the rest they hope to earn money.

The blockchain code is impossible to crack, so they claim. Now the blocks are aligned within large computer housings in buildings all over the world. Electricity used in Bitcoin mining surpasses power consumption of 159 countries.

The technologies will interact and the outcome is unpredictable.

The convergence is of Internet of things (IoT) and Blockchain.
It is here to stay.

The convergence is with our physical environment and many issues have not been resolved relating to smart homes and smart cities. IoT is growing rapidly globally and will shortly connect some 26 billion devices by 2020. The challenge is security of data. That's where Blockchains come in. They are secure for data based recording transactions.

Slock a new word which bridges blockchains to physical world with smart contracts. Frictionless automated transfers of products such as bikes, parking lots or rooms. Smart contracts are part of Bitcoin 2 that connects Internet with the physical world. It creates a new decentralized economy. In example is Uber that operates without centralized management. Its about automating whatever can be automated.

Do you see what's coming? Not only will every transaction between individuals be recorded because it does not involve cash of any kind. Source:

IoT Blockchain Convergence Why it is here to stay

Whant To Connect You To The (IoB) The Internet of Bodies





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