Hdac: The IoT Blockchain Network of Future

Introduction

For centuries humankind has tried to find ways to have a seamless communication. First, it was between humans but after the technological revolution, it is the machines. In our daily life too, we interact with a lot of machines. Imagine a system where all the machines are interconnected. They would be connected to each other, sharing information, analyzing the behavior, authenticating the user and performing the task assigned. The industry has already progressed towards such systems which can interact with each other and communicate over the internet, to manage the given task efficiently. Automation is the primary objective of machines which can be self-reliant and independent. We have virtual assistants, a tech device which performs the given instructions by interacting with other connected devices.

IoT

The interconnection of devices on the internet is known as IoT or Internet of things. We are seeing a massive growth in IoT sector due to the penetration of internet and investment in R&D of IoT sector. The gestation period of this industry is over and It is expecting an exponential growth in the coming years. Most of the devices on the IoT devices have primarily two functions.

Authentication: This is the first critical step of the device through which it identifies another device. Proper identification and authentication serve the objective of having a safe and secure interconnection.
Mapping: After the process of Identification, devices can start the process of Interconnection for smooth processing of information.

The future of devices on the internet is dependent upon the technological innovation, and integration of the latest technology.

Blockchain Technology

Another technology which has captured people's imagination is Blockchain technology, which can be termed as an increasing list of decentralized records linked together through cryptography. It has all the features needed to become the next revolution in technology, after the Internet. It is secure, transparent, decentralized, reliable and applicable in almost all kinds of industry. There are a plethora of startups working on Blockchain technology to reinvent a different kind of industry. Not only startups, big corporations in multiple fields have started experimenting with Blockchain technology, to reimagine their future in the world of cryptocurrency. The current financial system is creating few selected players who have become a winner by bribing the system. Blockchain acts as an equalizer for the current financial environment.

The Golden Combination

The combination of Blockchain and IoT will reinvent the future discourse of IoT. We believe in future where every device is smart enough to act autonomously without human intervention. Blockchain can be divided in two ways, private Blockchain and public Blockchain. While private Blockchain is restricted to few users, public Blockchain is open and accessible for everyone.

There are a lot of similarity between the IoT and Blockchain in terms of design and security structure. The integration of Blockchain with IoT is easier because of inherent characteristics such as reliability, confidentiality, and applicability which exist in both of them. The decentralized capability of Blockchain reduces the chance of the attacks on the IoT devices.

Blockchain technology can be used to support many IoT applications. It provides safe and secure interconnection of devices.

Apart from enabling authentication between different devices, it also provides a reliable ecosystem in which smart contract can be exchanged and transactions can be recorded. Currently, the Blockchain network is relatively small but as it grows and becomes more and more complex, and bigger, there will be a need for interconnection between different kinds of Blockchain. The integration of public Blockchain network with public Blockchain network, integration of Private Blockchain network with another private Blockchain network will create efficiently managed systems and databases. The interaction between another type of network will provide seamless service to users.

Integration of Public Blockchain Network

There are various methods in which public Blockchain networks can be linked. One method of linking can be structuring them hierarchically. The way country functions will be the way this structure will function, where the lowest level in structure will vote and the result will be stored at the medium level. The same design will be carried forward like in a tree.

Integration between Public and Private Blockchain Network

The private Blockchain network is limited to few members with special permissions. There will be a bridge which allows public Blockchain network to access the private network. The administrator will provide authentication permission for the connection.

Another method can be granting purpose based integration with prior approval for the transaction. The transaction speed is slow on the public network due to a large volume of transactions.

The Right Approach

Hdac is a company with all the solutions about how we can proceed with the integration of Blockchain with IoT, or what is the way forward for the next IoT product based on the Blockchain technology. They have a meticulously research-based solution for the situations mentioned above. They have the required expertise in the domain of Blockchain as well as IoT to facilitate a grand technological merger, which will be the face of next industrial revolution.

It provides a platform which is IoT friendly and has built-in facilities to handle a large number of transactions.
Hdac has characteristic similarity with bitcoin and multichain. It also provides special services to private Blockchain.
It has far better and improved services on the multiple fronts, compared to bitcoin and Ethereum platform. It has become suitable for real-time processing in the IoT environment.
The consensus algorithm on which mining activity in the network takes place has Pos and PoW to complete the creation of blocks. Hdac has presented a new method named ePoW which is PoW, based on equitable chances and saved energy. ePoW has many other advantages as well, such as reduction in the no. of nodes participating, reducing hashing power and supporting a healthy mining environment.
Blockchain has a secured framework under which it produces random numbers, which are then used as an address for the private key and public key.But recently, the pattern of random numbers was found to be studied and compensated. To remove this weakness, Hdac has introduced a quantum random number generator whose pattern cannot be studied theoretically.

Technology

The IoT Blockchain network is different from public Blockchain network because it allows only permissioned users. The network has following components:

Administrator
IoT device
User
Blockchain Node
Gateway

The user has to send IoT contract to the gateway for identification and mapping with the device. There are numerous access rights which can be granted to the users such as

Control of the payment
Right to read
Right to control/ write
Other Rights concerning the IoT device as applicable under different circumstances.

The user device mapping feature is used by many in the IoT industry. Therefore, it would be an easier Integration with the Blockchain network. The smart contract applied in IoT framework is called IoT contract. It can be assigned to IoT devices to perform specific functions mentioned in the contract.

A major issue related to any network is of security and hence Hdac proposes a secure channel for private IoT Blockchain networks. It can be integrated with existing Blockchain network, and an adaptor can be used at places where it cannot be integrated.

Various security protocols such as TLS and SSL can be used for protecting smart devices. An alternate method exists for devices which have low performance. Either these devices can be grouped and assembled over a separate channel or an IDEA and ARIA encryption algorithm can be implemented. Overall, it is possible to provide a secure, safe and robust Blockchain network for the IoT devices.

To know more about the project visit:

Website : https://hdac.io/

Whitepaper : https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper

Publisher: Kishan