From the point of view of technology, IoT is a fantastic driver of innovation; on the business side IoT is an enabler for business transformation and business disruption. An IoT solution can help organizations to improve their existing business.
Blockchain technology will allow IoT devices to truly become autonomous, exchanging data, executing actions, and improving their own processes, all without any kind of centralized authority.
Blockchain’s ledger-like capabilities are extremely relevant to the IoT because it is a solution designed to organize inputs from a huge array of participants. Whether people transacting in Bitcoin, voting in an election, or smart contract users, blockchain provides an incorruptible, decentralized method for data attribution and security. There can be no question which participant made which entry, and in which order.
It accomplishes such feats because the blockchain is made up of millions of nodes, all of which simultaneously run the network, ensure its security through encryption and decentralization, and keep a real-time version of its ledger alive between them. For solutions like supply chain management or logistics, this is key.
IoT-connected warehouse robots and other automated equipment of Logistic Companies, for instance, can rely on the integrity of their data when it is collected via blockchain, and need not question the veracity of the nodes nor their method of data collection. There is no margin of error, making it very easy to streamline business flows and be confident that the desired result was achieved.
Hdac seamlessly link Public and Private Blockchains by interpreting a node as any device connecting to the blockchain network. If Public Blockchain is open. A Private Blockchain requires an invitation. As a result, the “permissioned” nature of the latter means it’s unlikely to be accessed by nodes as freely as the former. Hdac creates Cue Bridge Node, an intermediary which contains key configuration information in order to link the two. Hdac allows you to enjoy the best of both public and private blockchain.
Hdac will be functioning on the Hybrid Blockchain like the Bitcoin standard Blockchain, acting to support micro-transactions for strongly secured wallet. Hdac is based on and improved from MultiChain, which is a blockchain improved from Bitcoin. Therefore, Hdac has some of the characteristic of bitcoin blockchain as well as MultiChain’s optimized characteristics for private blockchains. Hdac will provide a basis for acting as a platform for the IoT. It can be applied to various service fields such as IoT, distribution, logistics, and public data management based on fast transaction processing speeds and transaction scalability.
Compare to IOTA and even Bitcoin, HDAC can handle more transactions per second:
