Why blockchain is the missing link to IoT transformations
Before diving into this subject in more detail, let’s clear up some of the misconceptions and misunderstandings surrounding blockchain. In a basic sense, blockchain is core technology serving as a decentralized ledger that allows a shared set of computing systems to agree that a transaction between parties is authentic. These outcomes are recorded in a cryptographically secured database structure – the blockchain itself. It is impossible to manipulate information within the blockchain, so all parties are able to agree on a single version of the truth in a transaction. Easy enough, right?