IoT and Blockchain: A Happy Marriage or a Messy Divorce? – The Merkle
The Internet of Things has its problems. Even the biggest advocate for IoT tech will admit there’s a lot of work ahead. Scalability and security seem to be major issues on the horizon, and the jury’s still out on whether blockchain can be part of the solution. Speaking to a blockchain evangelist is enough to leave one quivering with excitement about its possibilities. Cross paths with a skeptic, and the blockchain seems to be little more than smoke and mirrors.
“Blockchain will reshape the future,” enthuses Drew Prindle at Digital Trends. “This blockchain buzz will die soon,” barks Dary Merckens at Gunner Technology. So, what is (and what isn’t) going on with blockchain and IoT that’s dividing so many people?
One of the issues that the naysayers cite is the fact that blockchain technology requires a lot of computational horsepower, due to proof of work. While this isn’t much of a problem for a server, it’s not ideal for an IoT device that’s designed for low power and low usage.
“We prototyped a delivery confirmation mechanism using a simple AWS IoT button and blockchain-based smart contracts. Needless to say, it was overkill for our project, and in all likelihood, similar blockchain-based IoT solutions will also be overkill. I’m urging people at this point to abandon the hype and to focus on proven technologies that do everything we need.”