NEM (XEM) - Ethyl - The Future of the Internet of Things

[Sateetje]

Ethyl - The Future of the Internet of Things

The Problem

The internet of things is too centralized. Every single device from a manufacturer is often connected to a single point of failure. At some point, the manufacturer may want to stop supporting perfectly working devices due to their age. A single service outage can leave homes without light, even though electricity is still flowing. Or even worse, these servers get hacked (not infeasible and happens often).

At the same time, the internet of things is too decentralized. Buying devices from multiple manufacturers is nearly impossible. Every single new protocol involves a brand new hub to be placed somewhere in the home, an additional point of failure.

In short: The internet of things is an extremely important societal change being done in an extremely risky / “move fast and break things” way.

Luckily, this can be solved without replacing every IoT device that already exists today.
The Solution

Ethyl decentralizes the internet of things using the NEM blockchain. Every building or household installs a single hub that also acts as a decentralized server. As long as electricity is flowing in the home or building, the IoT devices will keep working without relying on internet access or centralized servers. (Except, of course, when chain functionality is required to communicate with or read data from other devices.)

Ethyl supports offerings from a wide variety of vendors. It supports open standards such as Z-Wave, ZigBee, and general RF, as well as IP-based APIs for existing smart home devices.

Note that even though Ethyl is primarily based on the blockchain, most communication happens off chain to eliminate fees during day to day use.

In short: Ethyl safely and securely moves the internet of things onto the NEM Blockchain.

https://www.youtube.com/watch?v=_dHvYuB6dsA

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[nzminer]

this looks brilliant!

[Sateetje]

Voting active:

https://forum.nem.io/t/ethyl-the-future-of-the-internet-of-things/12106

[Sateetje]

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.

https://coinsessions.ph/ethyl-the-future-of-the-internet-of-things/

[nzminer]

Looking forward to watching the progress of this project