Heard about BIoT?
Many of you might have heard about IoT. Yet, BIoT might be an unfamiliar term. Is it an expansion of IoT? This was a question that most of the tech enthusiasts had. Yes, it’s kind of an expansion. BIoT is where blockchain joins IoT!
What is IoT?
IoT is a concept which deals with a network of physical devices. A range of our devices such as mobile phones, computing devices, security devices etc will come with a set of smart sensors. Thereafter they will be connected together over the internet to a single platform, which enables generation of information through the data exchanged. This information is used by the smart system to detect patterns, make recommendations, and detect possible problems and act accordingly.
Such kind of an implementation looks really smart! Hence, most of the initiatives with the concept IoT came out with the term ‘smart’. Smart Home systems, smart parking systems are some mainstream attractions with the concept of IoT, which emerged within the business world. A massive crowd embraced them immensely with much excitement.
But with time, security concerns limited the significance of IoT. Who can ever guaranty the security of our connected devices? This is the point where industry experts came up with the concept of combining blockchains with IoT!
What is this blockchain concept?
It is a technology used in tracking billions of connected devices and enabling the process of transactions and coordination between devices in a more trustworthy manner. Each group of these transactions is a “block”. Each block contains a timestamp and a link to the previous block, and that’s how this ‘blockchain’ is created. At the very basic level, decentralised approach and its trustworthy approach happen to be some key reasons for industry experts to merge blockchain with IoT.
What makes blockchain a trustworthy concept?
It can be simply explained like this. In a blockchain, all blocks are encrypted in a special way. Each participant might have access to all the information, but only a user who owns a special cryptographic key is able to add a new record to a particular chain.Old blocks are preserved forever and new blocks are added to the ledger irreversibly, which makes it a non destructive way to track data changes over time. With regard to BIoT, it’s clear that if something goes wrong within the network, this trustworthy approach of blockchain, makes it simple to identify the weak link and, take remedial action.
Decentralised approach of a blockchain comes with the linkage each block has with its previous block and the block which comes after it within the chain. When a change is made, the entire chain is updated. Intermediaries are no longer needed to manage the process. With regard to a BIoT, sharing data across a network of key stakeholders will happen due to this decentralised approach. This will prevent unauthorised devices from disrupting a network of IoT connected devices.
BIoT vs Future
Some time back, Blockchain and Internet of Things were two distinct topics, which impacted the industry separately. Today it’s amazing how they have been merged together as Blockchain based Internet of Things (BIoT), creating much excitement within the business world. It’s certain that these two trending technologies will become inseparable in the years to come.
This is just a simple explanation about this emerging technology. If you are interested don’t forget to read more about BIoT.