Bitcoin, Crypto currency, Blockchain

IBM: Proof-of-Work for the Internet of Things

a132e7492638b6e3ad79f5c729c99a4e - IBM: Proof-of-Work for the Internet of Things

IBM is looking for a way, the Proof-of-Work-method in the future for IoT. The American IT and consulting company has filed a Patent. So you want to make it possible that devices in the Internet may run out of things blockchain-based Smart Contracts.

The International Business Machines Corporation holds back in terms of the Blockchain. To name just a few stations: in January, the company announced a Joint Venture with Maersk, in order to optimize the shipping industry with the Blockchain technology. At the end of March they announced the development of the smallest computer in the world on a Blockchain-based. At the beginning of April, the message made the round that in negotiations with Central banks, in order to create a closed crypto-currency. How to get a patent application by the 26. In April, the company is now the next big thing: the Internet of Things (IoT).

Noncen limit, to reconcile IoT and Blockchain

As a reminder: In the Internet of things communicate very roughly broken down machines with machines. In order to optimize this communication, suggests IBM is a Blockchain solution. So the Proof-of-Work-method is run on the individual devices using a predefined Set of Noncen, to confirm the Proof-of-Work. To read (the terms Nonce and Proof-of-Work here, please). The Proof-of-Work would be saved in the draft on the Blockchain, and between the devices communicates. At the suggestion of IBM, the ultimate goal is to relieve the load on the devices. You don’t have to muster up the same energy as the Bitcoin Mining. By you want to limit the number of Noncen, you could adjust the Proof-of-Work-procedures in the Internet-of-things requirements. With a limited framework, each of the devices would have to options are not so many solution like Bitcoin Mining. Nevertheless, they could validate the transactions.

Display

This way you could customize, for example, IBM in the application, “the complexity, to construct a Proof-of-Work, so that, for IoT devices is no need, not more than a certain amount of work force, in order to master the Proof of Work successfully.”

In the case of a successful implementation of the Proof-of-Work-method in the IoT area you are moving, among other things, on the same site as the Internet of Things Association – IOTA.

Leave a Comment