Internet of Things (IoT) is touted to be the future of everything connecting the internet and it has brought some drastic changes in the Blockchain technology for good. Creating the perfect network for distributed devices with IoT solutions is the epitome solutions that IoT could bring for blockchain. IoT can provide interoperability solutions for Blockchain in any way it is deemed possible.
IoT is all about providing solutions to any problem posed by the blockchain technology. The first step is to identify the problem and define the extent of it.
Now that the problem has been defined, the solutions and other derivatives of it can be used to devise or arrive at a particular solution.
Create an app or any other asset to test out the solutions that have been concluded to solve the problem with all the requirements in place.
Now that the asset or the app has been created, you can implement the problem that has been posed and test out the theory to see if it is solving the said problem.
The app or the asset is running successfully without any glitches and users are reaping the benefits. Provide continuous support and improve the app or asset.
Some of the solutions offered by Blockchain IoT are as follows,
Remove the peer-to-peer in blockchains and reduce the transaction fees along with faster transaction speed.
Identify and approve the transactions in the distributed ledger without having to use the blockchain.
Cloud services integrated with Blockchain to readily deploy projects with ease.
Share wireless devices connected on IoT and buy private entities with Blockchain connected on IoT solutions.