Ethereum and IoT

In this section, we are going to take a look at Ethereum and how it helps propagate the IoT. In my personal opinion, Ethereum is the perfect backbone for IoT. This is because of two factors: dataflow and security. Data is spread out across the network, which is the most basic concept of IoT; this unhindered and smooth flow of data is an essential factor in using Ethereum to help build the IoT. Also, every device has its own private key that enhances the security factor. The combination of these two elements opens up a lot of new possibilities.

 

Let us look at a case study involving the charging of electric vehicles. At this moment, they are not many electric vehicles or charging stations. There is a high possibility that all vehicles will run on electricity in the near future. This would mean that more charging stations will be placed at many more locations. Let us consider a scenario where there are charging stations at a supermarket. It wouldn't be feasible to provide this...