Top 10 IoT Blockchain Projects You Should Know

The Internet of Things (IoT) promises to usher in a new age of trackability and machine economics. This technology continues to expand and is finding integration into systems across multiple industries.

The Internet of Things (IoT) is a network of billions of smart devices around the world. An IoT device is any device with a sensor and an internet connection. Today, there are IoT devices that can communicate information and value across networks in real-time.

There are several reasons for the rise of the IoT movement. For one, these tiny systems are a crucial component of automation, allowing for real-time monitoring of machine processes and providing a viable alternative to human intervention in many cases. IoT can also reduce bottlenecks in information transfer caused by hardware, incorrect data, and system conversions, such as when paper reports must be manually entered into computer systems.

The IoT movement promises to improve many aspects of life for the average person. From making supply chains more secure to providing reliable IDs for machines that must interact securely, the blockchain IoT movement is in full swing. Here are the top 10 IoT blockchains you need to know (in no particular order).

1. IOTA

IOTA is the most popular and best-known IoT blockchain project. The IOTA concept entered the market in 2015, a year before it launched its mainnet. IOTA provides direct access to a trustless blockchain-powered IoT infrastructure that supports smart contract programmability and machine-to-machine (M2M) communications.

At the core of IOTA is a new consensus mechanism and infrastructure called Tangle. This directed acyclic graph (DAG) architecture enables high-speed transfer of value and data. It also prevents alterations via the use of an immutable decentralized ledger.

Notably, MIOTA is the platform's main utility token. Users can leverage MIOTA to facilitate data transfers, execute smart contracts, and pay fees on the network. The token can be traded in a P2P manner and is supported across many high-level CEXs

Interestingly, IOTA was the victim of a cyber attack in 2018. Since that time, the team has improved security standards and implemented new features and services. In 2021, the Chrysalis update enhanced the network's capabilities further. Today, it's one of the most stable and established IoT blockchain projects.

2. Helium

Helium is another IoT blockchain project that has had years to improve its systems and offerings. The protocol was introduced to the market way back in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. It wasn't until 2019 that Helium launched its IoT-capable mainnet. The maneuver received heavy media coverage due to the platform's goal of disrupting the telecommunication industry.

Source – Helium

Helium leverages decentralized physical infrastructure networks (DePIN) to provide an alternative to cellular systems. Specifically, the network enables nodes to secure rewards by broadcasting the LoRaWAN protocol. This low-power wide-area network (LPWAN) was built specifically to communicate with low-power IoT devices across WiFi, VPN, CDN, and 5G networks.

The HNT token plays a pivotal role in Helium's ecosystem. Users need HNT to interact with network features. Notably, Helium migrated to the Solana blockchain in 2023 as part of its goal to improve performance and reduce congestion-related issues. Additionally, the project employs community governance, giving users a vote regarding its future upgrades and changes.

3. Chainlink

In 2017, Sergey Nazarov and Steve Ellis introduced the world to the Chainlink protocol. Chainlink was unique in many aspects. For one, it was a blockchain designed to support oracles. These off-chain sensors are used across the market to communicate data to and from blockchains.

Oracles play a pivotal role in the DeFi sector, where they are used to monitor prices, market movements, and much more. Chainlink sought to solve the oracle problem, which was an issue that had occurred due to the centralized nature of the sensors. By integrating a decentralized blockchain, Chainlink was able to add auto-correction and verification systems, reducing the risk of incorrect and hacked info entering the blockchain,

Chainlink supports IoT technology across the board as IoT devices make excellent oracles. The IoT network's massive size is another reason why it’s a great fit for use as an oracle. These low-power systems can be set up passively to monitor items, conditions, validity, geolocations, etc.

Today, Chainlink provides a reliable way to integrate confidential and sensitive material into the blockchain network while ensuring correctness. In the future, Chainlink will integrate even more IoT devices and expand its operations across industries to meet the growing demand for blockchain-powered systems. As such, it's ideally positioned to capture this moment moving forward.

4. IoTex

IoTeX is an open-source IoT blockchain infrastructure provider. IoTex entered the market in 2017. The developers see this network as the core architecture needed to power smart cities in the future. Notably, its founders include Raullen

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