Bitcoin Garden: AnApp IOTW – The Future of Blockchain in IOT
https://bitcoingarden.org/anapp-iotw-the-future-of-blockchain-in-iot/Let’s face a simple fact; blockchain solutions that exist today are struggling to implement the technology with internet connected devices, period. Most existing blockchain platforms that have a significant reliance on the reliance of Proof of Work (PoW) and Proof of Stake (PoS) algorithms share a common problem; they are heavy weight and require large memory space.
Amongst millions of Internet-connected devices out there, when they connect and share data on these platforms, the data is not adequately utilized. First IOT devices require micro-transaction, which existing PoW solutions cannot provide. Second, most IoT devices only have limited computational power so they normally cannot run on traditional blockchain software that consumes a vast amount of power.
IOTW endeavors to resolve these bottlenecks and reward IOT devices for sharing data and engaging in micro-mining.