Ethyl: The Future of the Internet of Things
Blockchain, NEM, News, Technology
The Internet of things (IoT) is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to connect and exchange data.
IoT is both too centralized and too decentralized at the same time. It is too centralized because every single device is connected to a single point of failure. It is also too decentralized because buying devices from multiple manufacturers is impossible, and leads to another point of failure.
There is a solution to this dilemma without replacing IoT devices that already exist today.
Ethyl decentralizes the IoT using the NEM blockchain. It only requires a single installed hub that also acts as a decentralized server. Ethyl supports a wide variety of vendors such as Z-Wave, ZigBee, and general RF which are open standards, as well as IP-based APIs for existing smart home devices.
The value of Ethyl is that it gives privacy and security to users of IoT. By using blockchain technology for encrypted data storage and local networking for the majority of communication, IoT becomes less of a privacy issue.
As most people care about their privacy, Ethyl is providing this privilege, unlike almost all major IoT companies.
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