Internet of Things (IoT) will revolutionize our life on this planet. The challenge is not in development the smart devices or machines, but in communication level. Once we solve that, there will be a huge step forward.
Imagine the whole world with ability to communicate. Considering smart things as a device that interconnect human communications.
The interconnectivity is the key for our new economy. With interconnectivity comes incredible huge amount of data that devices send and receive every seconds.
HDAC is a new generation blockchain that focused on Machine-2-Machine (M2M) transactions. The main purpose of HDAC is to serve the machine economy by enabling feeless M2M (Machine-to-Machine) payments.
HDAC is open-source, decentralized cryptocurrency, engineered specifically for Internet of Things, its real-time micro transactions and providing ecosystem that is ready and flexible for scale.
Blockchain could be used to ensure a valid and trusted device with a known past is interacting on the network, versus a rogue intruder device. The history of transactions could also be used to spot anomalies in data patterns between devices using machine learning and AI techniques, which are starting to be used today in some network security tools. It is early days for blockchain concepts in this space, but it is certainly being explored.
On an IoT network, blockchain might facilitate secure messaging between devices so that two parties can share data without ever compromising the privacy of its owner.
Using blockchain for IoT transactions and data sharing could ease security concerns, remove single points of failure, streamline processes and cut costs, he claims. Although the ‘blocks’ in a blockchain may be publicly visible, their contents (detailing the time and date of the transaction, for example) are available only to organizations with the right encryption key. Because transactions must be authorized by multiple parties before acceptance, this technology creates a high degree of trust.
Hdac Private Blockchain [HdacT], a blockchain based smart transaction method on the Hdac platform, is designed to perform a given task under the various commanding conditions in the IoT environment. Hdac provides these M2M transaction functions and a simple transaction service environment, and with the rationality and efficiency that the Hdac platform pursues, it will be the platform of choice for use and control with IoT devices.
In addition, Hdac will evolve into a hybrid blockchain platform by providing a hardware wallet for user security and transaction convenience in service of the aforementioned communication and transactions between IoT devices.
