According to several studies, the adoption of Blockchain (BC) technologies in the realm of IoT (Internet of Things) is going to grow exponentially during the next years, i.e. the global blockchain Internet of Things (IoT) market will become a three billion dollar industry by 2025. Worth $32 million (USD) in 2018, several reports put the industry at a 91% growth rate starting 2021. As an increasing number of businesses invest in IoT to connect and share data, company leaders are recognizing the potential of blockchain technology to ensure the transfer of information is secure.
However, applying blockchain to IoT is a still a big challenge today, as it entails properly facing several hurdles like oracle trustworthiness, scalability, interoperability, resource consumption, privacy, and processing delays, among others. In this project our focus is to develop new approaches for distributed oracles to be tested with AirTrace, a blockchain-agnostic platform that allows any blockchain practitioner (ranging from hobbyists to large corporations) to easily integrate blockchain capabilities in their IoT networks.
Our efforts for ADOS aim at developing an advanced solution for a distributed system of oracles in IoT scenarios. IoT sensors present some promising options to improve security, reliability, and authenticity of the information provided by oracles, that we want to explore via cutting-edge technologies like Artificial Intelligence thanks to anomaly detection, for instance, and the application of advanced identity verification procedures for each particular IoT device. Thanks to our developments, the ONTOCHAIN community will have the chance to resort to our solution in terms of oracle handling and thus increase the reliability, security and authenticity of any information injected to the ledger.
About the project
According to several studies, the adoption of Blockchain (BC) technologies in the realm of IoT (Internet of Things) is going to grow exponentially during the next years, i.e. the global blockchain Internet of Things (IoT) market will become a three billion dollar industry by 2025. Worth $32 million (USD) in 2018, several reports put the industry at a 91% growth rate starting 2021. As an increasing number of businesses invest in IoT to connect and share data, company leaders are recognizing the potential of blockchain technology to ensure the transfer of information is secure.
However, applying blockchain to IoT is a still a big challenge today, as it entails properly facing several hurdles like oracle trustworthiness, scalability, interoperability, resource consumption, privacy, and processing delays, among others. In this project our focus is to develop new approaches for distributed oracles to be tested with AirTrace, a blockchain-agnostic platform that allows any blockchain practitioner (ranging from hobbyists to large corporations) to easily integrate blockchain capabilities in their IoT networks.
Our efforts for ADOS aim at developing an advanced solution for a distributed system of oracles in IoT scenarios. IoT sensors present some promising options to improve security, reliability, and authenticity of the information provided by oracles, that we want to explore via cutting-edge technologies like Artificial Intelligence thanks to anomaly detection, for instance, and the application of advanced identity verification procedures for each particular IoT device. Thanks to our developments, the ONTOCHAIN community will have the chance to resort to our solution in terms of oracle handling and thus increase the reliability, security and authenticity of any information injected to the ledger.
According to several studies, the adoption of Blockchain (BC) technologies in the realm of IoT (Internet of Things) is going to grow exponentially during the next years, i.e. the global blockchain Internet of Things (IoT) market will become a three billion dollar industry by 2025. Worth $32 million (USD) in 2018, several reports put the industry at a 91% growth rate starting 2021. As an increasing number of businesses invest in IoT to connect and share data, company leaders are recognizing the
