Introduction
Today we are living in the age of information and electronics. In this age, we are connected to each other through electronic (networking) devices and can share information very easily.
Then comes the time of digital convergence in the form of the Internet of Things. IoT is a system of interconnection of computing devices, mechanical and digital machines, objects and even humans. It has the ability to transfer data over a network without requiring human-to-machine interaction. Get decentralized Professional IT Support services is US to secure smart home devices.
What is Blockchain?
Blockchain is a decentralized database that contains information on all transactions that have been executed. This database is stored on multiple computers known as nodes or blocks, and each of these nodes has a copy of the blockchain ledger.
In the case of bitcoins, every ten minutes, the miners compete to solve a math puzzle using their computing power and whoever wins it will get to update this digital ledger and profits for their efforts in bitcoins.
ICO
An initial coin offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other such as Bitcoin, typically Ethereum coins.
Like all networking devices, here comes the major security concern. As we know that IoT devices are lightweight devices, they do not have all the computational power to perform complex security algorithm. So, data and information security are a big concern for these lightweight devices.
What do you know about the Internet of Things (IoT)?
Well, these devices are everywhere in our home and office, and we assume that they perform unwanted tasks in a well-organized manner. If you want to know more about IoT, then here is a good article for you: Vulnerable IoT Devices. The Internet of Things has revolutionized how we work and live, but these devices can also be hijacked by hackers.
Do you know what EVMs are? They are used all over the world to make democratic elections possible. Recently, many countries have been criticized for using them because they can be hacked. Unlike normal computers, every time an election happens, the machines need to be tested and retested before counting votes, and that takes a long time.
What is the biggest challenge for researchers working in the security of IoT devices?
People might not know this, but the Internet of Things is all around us every day. Maybe we don’t notice it because we use it. When you check your security system before leaving work, that’s an IoT device at work; when you turn off all the lights in your house using Alexa, that’s an IoT device working for you.
Technology has helped us to do amazing things. But it can also help people to do terrible things. For example, someone somewhere might hack into your computer because they found a way in. That is really bad. A challenge is a knowledge. Most people don’t know about the internet-connected devices that are all around us. If they knew, they would have time to learn how these exploits work?
We need to find CVEs so companies can find them before attackers figure out how to exploit them. And we also need to talk about it so that people know what CVEs are.
New Technologies and Evaluation in the world of Blockchain?
Now the techniques I am purposing involve another revolutionary phenomenon called Blockchain. Initially, Blockchain was developed as the incorruptible digital ledger for Bitcoins. But now, Blockchain has evolved into something much more revolutionary.
Blockchain is like the internet that has a built-in robustness. By storing the block of information that is the same across the network, the Blockchain cannot be controlled by a single entity and has no single point of failure. With the help of Blockchain, we have more data security, data privacy, data authentication and have no more human or machine errors.
Blockchain guarantees the authenticity of data due to distributed system of registers that all are connected through a secure validation mechanism. The major idea is to provide security of data in IoT using Blockchain using a decentralized approach.
How does Blockchain provide information security for smart homes?
Blockchain is a method of recording data against tampering and revision, offering a store of value in a decentralized form.
It will provide the system by which home appliances can communicate with each other. This way, they can buy and sell renewable energy to each other. They will take control of their own energy usage from the utility companies.
For example, Blockchain is a new technology that can create a unique identity for devices. Consumers use these identities to access services securely. You will be able to set permissions and rules on your ‘smart’ appliances, such as your dishwasher or washing machine. All of these machines will follow what you instruct them to do through the mobile app.
And on top of this, we have another aspect, Blockchain, i.e., PDATA Token, where we enable users to monetize their data.
The above-mentioned working of these 3 companies creates a chain that can benefit each other, hence forming a new business model.
Here are some ways how it works:
1) Producers of clean energy supply their power through Power Ledger to various consumers on the platform. They get paid with Solar Coins for selling their power.
2) The consumer can buy power from different sources of clean energy by paying in Solar Coin, which is automatically sent to the producers’ wallets on Blockchain via Power Ledger.
3) Also, they have an option of selling extra solar energy generated at home to others who need it on the platform using Sun Exchange or RECoin.
4) These options will help them set more money aside every month or earn some extra money with the help of Solar Coin.
Sun Exchange is a crowdfunding platform where each SUN token represents digital ownership of an installed solar power system in Africa. The Sun Exchange allows you to buy solar cells, which are leased to schools, businesses, medical clinics and community centers in South Africa. There are 1145 solar cells for sale at this moment, which will provide clean energy for hundreds of people.