From the permissioned blockchain networks of IBM to the newly introduced Hashgraph technology, some of the largest technology and financial conglomerates have been testing the applicability and potential of blockchain with the Internet of Things (IoT) market since the beginning of 2016.
Yet, with nearly $4 billion invested in blockchain research and development, not a single company has been able to demonstrate the successful integration of blockchain technology with IoT.
…….For this sort of system to be deployed commercially, the scale of the blockchain-based IoT network would have to increase drastically in order to support hundreds of thousands of users. This would require the system to manage tens of thousands of data points per second, all of the which would need to go through the blockchain.
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