Blockchain App Factory has set foot in the field of Internet of Things (IoT). The IoT has brought some drastic changes in the blockchain technology and distributed ledger technology. Creating the perfect distributed network of devices with IoT solutions is what we strive for. From Blockchains to ledgers to exchanges problems, IoT can provide interoperability solutions for Blockchain in any way possible.
Steps involved in Blockchain IoT
Identify and Define the Problem
IoT is all about providing solutions to any problem posed in 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 app derived from the Solution
Create an app or any other asset to test out the solutions that has been concluded to solve the problem with all the requirements in place.
Implement the app
Now that the asset or the app has been created, you can implement in the problem that has been posed and test out the theory to see if it is solving the said problem.
Support and Improve
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.
Blockless distributed ledger
Identify and approve the transactions in the distributed ledger without having to use the blockchain.
Blockchain as a service (BaaS)
Cloud services integrated with Blockchain to readily deploy projects with ease.
Shared devices and Private Entities
Share wireless devices connected on IoT and buy private entities with Blockchain connected on IoT solutions.