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Atonomi Network beta launch brings blockchain security to the ‘internet of things’ – SiliconANGLE

The number of “things” within the IoT ecosystem is growing rapidly. According to Gartner, the number of devices could reach 20.4 billion by 2020. Security for this ever-growing network of devices will also follow pace, says another Gartner report, estimating worldwide security spending reaching $1.5 billion during 2018, up 28 percent over 2017.

“In IoT initiatives, organizations often don’t have control over the source and nature of the software and hardware being utilized by smart connected devices,” said Ruggero Contu, research director at Gartner. “We expect to see demand for tools and services aimed at improving discovery and asset management, software and hardware security assessment and penetration testing.”

At the root of the Atonomi Network is a blockchain, a cryptographic ledger distributed between multiple nodes that adds records of transactions only when enough nodes come into agreement.

With the use of a blockchain, Atonomi can build a web of trusted communication, where every time an IoT device submits information to the network, it must be accepted by a large enough portion of the network as trustworthy or true before its information is acknowledged. Every IoT device connected to the Atonomi Network receives a unique identification and cryptographic tokens to operate on the network and its activities can be tracked by other authorized parties. That allows the network to establish a reputation and define levels of trust for that device and its operations.

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