The Internet of Things (IoT) promises to usher in a new age of trackability and machine economics. This technology continues to expand and is finding integration into systems across multiple industries. The integration of blockchain networks and IoT systems creates a new level of interoperability and responsiveness that was previously unimaginable.
‘IoT’ – The Internet of Things
The Internet of Things is the name given to the billions of smart devices located across the globe. To qualify as a smart device, the unit needs a sensor and internet connectivity. Today, there are IoT devices that can communicate info and value across networks in real-time.
IoT Benefits
There are lots of reasons why the IoT movement is on the rise. For one, these tiny systems are a crucial component of automation, they allow for real-time monitoring of machine processes and provide a viable alternative to human intervention in many cases. IoT can also reduce bottlenecks in information transfer caused by hardware, incorrect data, and system conversions, such as when paper reports must be manually entered into computer systems.
The IoT movement promises to improve many aspects of life for the average person. From making supply chains more secure to providing reliable IDs for machines that must interact securely, the blockchain IoT movement is in full swing. Here are the top 10 IoT blockchains you need to know (in no particular order).
1. IOTA
IOTA is the most popular and best-known IoT blockchain project. The IOTA concept entered the market in 2015, a year before it launched its mainnet. IOTA provides direct access to a trustless blockchain-powered IoT infrastructure that supports smart contract programmability and machine-to-machine (M2M) communications.
At the core of IOTA is a new consensus mechanism and infrastructure called Tangle. This directed acyclic graph (DAG) architecture enables high-speed transfer of value and data. It also prevents alterations via the use of an immutable decentralized ledger.
Notably, MIOTA is the platform’s main utility token. Users can leverage MIOTA to facilitate data transfers, execute smart contracts, and pay fees on the network. The token can be traded in a P2P manner and is supported across many high-level CEXs
Interestingly, IOTA was the victim of a cyber attack in 2018. Since that time, the team has improved security standards and implemented new features and services. In 2021, the Chrysalis update enhanced the network’s capabilities further. Today, it’s one of the most stable and established IoT blockchain projects.
2. Helium
Helium is another IoT blockchain project that has had years to improve its systems and offerings. The protocol was introduced to the market way back in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. It wasn’t until 2019 that Helium launched its IoT-capable mainnet. The maneuver received heavy media coverage due to the platform’s goal of disrupting the telecommunication industry.
Source – Helium
Helium leverages decentralized physical infrastructure networks (DePIN) to provide an alternative to cellular systems. Specifically, the network enables nodes to secure rewards by broadcasting the LoRaWAN protocol. This low-power wide-area network (LPWAN) was built specifically to communicate with low-power IoT devices across WiFi, VPN, CDN, and 5G networks.
The HNT token plays a pivotal role in Helium’s ecosystem. Users need HNT to interact with network features. Notably, Helium migrated to the Solana blockchain in 2023 as part of its goal to improve performance and reduce congestion-related issues. Additionally, the project employs community governance, giving users a vote regarding its future upgrades and changes.
3. Chainlink
In 2017, Sergey Nazarov and Steve Ellis introduced the world to the Chainlink protocol. Chainlink was unique in many aspects. For one, it was a blockchain designed to support oracles. These off-chain sensors are used across the market to communicate data to and from blockchains.
Oracles play a pivotal role in the DeFi sector, where they are used to monitor prices, market movements, and much more. Chainlink sought to solve the oracle problem, which was an issue that had occurred due to the centralized nature of the sensors. By integrating a decentralized blockchain, Chainlink was able to add auto-correction and verification systems, reducing the risk of incorrect and hacked info entering the blockchain,
Chainlink supports IoT technology across the board as IoT devices make excellent oracles. The IoT network’s massive size is another reason why it’s a great fit for use as an oracle. These low-power systems can be set up passively to monitor items, conditions, validity, geolocations, etc.
Today, Chainlink provides a reliable way to integrate confidential and sensitive material into the blockchain network while ensuring correctness. In the future, Chainlink will integrate even more IoT devices and expand its operations across industries to meet the growing demand for blockchain-powered systems. As such, it’s ideally positioned to capture this moment moving forward.
4. IoTex
IoTeX is an open-source IoT blockchain infrastructure provider. IoTex entered the market in 2017. The developers see this network as the core architecture needed to power smart cities in the future. Notably, its founders include Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun.
IoTex is seen by many as one of the most secure IoT providers. It combined the efforts of +40 well-known research scientists and has already successfully facilitated +$10M in transactions since its launch. All of these factors add to IoTex’s draw and have helped it secure a reputation as a reliable and secure provider of IoT services.
Another benefit is that IoTex is fully EMV compatible, meaning that Ethereum developers can integrate its services without the need to recode. Additionally, the team has put forth considerable effort in establishing reliable security protocols that can help boost the machine economy. All of these factors make IoTex worthy of any IoT blockchain list.
5. VeChain
VeChain entered the market in 2016. The project received immediate coverage due to its focus on the logistics sector and the fact that one of its co-founders is an ex-CIO of Louis Vuitton, China. His experience in navigating the complex logistic supply chains found in the fashion industry helped ensure VeChain hit all the checkmarks businesses required.
The project’s founder, Sunny Lu, was keen on including vital options such as support for smart contracts, NFT tokens, and IoT devices. Together, the system creates a web of trackability that offers real-time insight into a unit’s position, validity, and current state.
VeChain users have multiple tokens they need to leverage depending on the actions they intend to take. VeChainTHor is the utility token used by developers to cover gas fees. Gas is what is paid to nodes to execute smart contracts and transactions. VET is another token that is used for machine economics. Together these blockchain assets provide full transparency.
6. NetObjex
NetObjex is an IoT blockchain provider that seeks to standardize the market. Standards are a critical component of innovation. They help reduce duplicate work and enable engineers to focus on improving offerings rather than compatibility. As such, many see standardization as a crucial step towards IoT large-scale adoptions.
NetObjex provides a proven infrastructure for IoT device communication. It enables advanced features like digital IDs that leverage NFT (nonfungible token) technology to provide machines with unique tokens that can be used to verify their authenticity before allowing access to sensitive materials and data.
NetObjex provides cyber security services and web3 options in addition to their IoT features. As such, the protocol continues to carve a niche in the AI Blockchain sector as well. This positioning makes NetObjex a smart project to keep tabs on moving forward.
7. ArcTouch
ArcTouch allows businesses to connect with their clients in new ways. The protocol supports AI, blockchain, and IoT technologies as part of its flexible approach to the market. This strategy allows nearly any business to efficiently and affordably integrate IoT into their business model.
ArcTouch includes various tools that make it easy to use IoT devices in your next Dapp. These services help connect units securely and validate their ID. Already, these systems are in use across many tech sectors. Specifically, the firm offers IoT solutions spanning smart TVs, voice assistants, and wearables.
Recently, ArcTouch has delved deeper into AI integration alongside its IoT and blockchain moves. The results are a fully capable IoT infrastructure that allows anyone to build upon its reliable offerings using advanced tech, including AI and IoT sensors. Combining these technologies provides the best solution for transparency and security.
8. Suffescom Solutions Inc
Suffescom Solutions Inc. entered the market in 2014 as an energy-efficient alternative to the status quo. At this time it focused on budding technologies including AI and blockchain tech, which were both relatively new. Notably, networks like Bitcoin were consuming massive amounts of electricity which was equivalent to entire nations.
As such, many people feared the rising energy consumption of AI, blockchain, and IoT devices could lead to serious issues moving forward. These systems require more computational power, which directly results in more energy consumption. Suffescom Solutions provides access to energy-efficient alternatives.
This Ethereum-based blockchain IoT service provider is keen on keeping its carbon footprint to a minimum. As such, it’s already in use across multiple sectors including transportation, agriculture, real estate, supply chain, and utilities. Today, it’s recognized as one of the top AI-capable blockchain Dapp infrastructure providers available.
9. Blockchain for Energy
The Blockchain for Energy project is a non-profit that connects top-rated energy companies to create reliable solutions to the pollution problem. The project was launched in collaboration with Enovate AI and seeks to create the first industry-wide comprehensive emissions management solution. The system will rely on IoT devices to provide accurate and timely data that can be verifiable without the need for third parties. Notably, AI and Machine learning algorithms will help to ensure that these systems can recognize emission issues before they become a serious problem.
Blockchain for Energy leverages Hederas HashGraph. This distributed ledger provides a reliable and proven infrastructure that can support the latest DeFi, blockchain, and AI upgrades. Also, the system adheres to the Interwork Alliance (IWA), which is a group of standards designed to prevent information silos in the market.
Information silos are data that isn’t connected to the rest of the market in a timely fashion. As such, it can’t be used to improve operations. Data silos are a major problem that can lead to sup par logistics and supply chain woes. Integrating real-time data via IoT blockchain systems solves this problem and improves results considerably.
10. SealSQ
The popular semiconductor manufacturer SealSQ partnered with CarbonMinus to introduce a decarbonization system to the market. The project provides companies with the tools they need to improve their energy and resource management in real-time. To accomplish this task, the system enhances cooperation and provides a reliable way for businesses to share their progress.
Part of this approach includes new NFT carbon tokens which enable businesses to monetize their pivot towards a greener economy. It also helps the firms launch, fund, and track green initiatives. In this way, SealSQ enhances market transparency and integrity.
Top 10 IoT Blockchain Projects You Should Know
There are many blockchain IoT projects in the works. The ones listed above have managed to carve out a niche in the market that will help them gain more users as IoT use increases. For now, any of these projects are worth monitoring as the sector expands to meet the growing demands of consumers and businesses.
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