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"It is impossible to develop the true Internet of Things (IoT) without establishing a decentralized environment. Binding devices to remote servers of IT companies is only the initial stage of IoT development, not the final stage."
The emergence of Ethereum smart contracts first made this concept a reality, but limited bandwidth, high transaction costs, and the lack of a "common language" with other blockchains created development bottlenecks and shackles unless developers came up with a solution It is difficult to break through the upgrade and transformation of Ethereum itself, such as formulating a special "transition bridge" for specific situations.
As the flagship project of Parity and the Web3 Foundation, Polkadot will most likely and currently appears to be the most suitable for realizing the vision of Web 3.0, and will provide the possibility and smarter for millions of smart devices to connect to the global network. solution. Polkadot's sharding protocol provides opportunities for communication between blockchains. Below we will explain in detail why the IoT industry has become one of the main beneficiaries of the Internet Protocol, and review the most promising IoT projects on Polkadot.
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Why are people always discussing Polkadot
This market reaction is due to widespread demand for inter-blockchain communication protocols from developers representing decentralized applications, primarily in the DeFi space. The three-year product of Web3 Foundation has solved the problem of bandwidth and scalability, because Polkadot, as the underlying building of the blockchain, has the ability to combine different blockchains.
Sharding is a Polkadot feature that allows a blockchain network to be divided into segments that act as nodes or transaction validators. Unlike Ethereum, the sharding model distributes tasks between nodes where each node computes each operation and processes each transaction, allowing multiple transactions to be verified in parallel. Compared with the Ethereum network, this greatly improves the speed of transaction processing, which has led some media to refer to Polkadot as the "Ethereum killer". According to PolkaProject, the number of projects deployed in the Polkadot network is about to hit 300, a one-third increase from early September. While reviews of promising projects on Polkadot have become a feature of news outlets including DeFi, the IoT space on Polkadot has not been exposed to the attention of industry-specific media, so we decided to research Polkadot projects in this area.
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Smart devices are still not "smart"
Unlike the Polkadot ecology of the DeFi market segment that already has as many as 21 projects, the IoT section only provides us with three projects - Nodle IoT, MXC and Robonomics. When I first tried to understand them, they had many similarities.
Polkadot is still an ecologically promising IOT field
MXC's goal is to build a global network for IoT device communication. MXC itself (Machine eXchange Coin) is a protocol that utilizes LPWAN (Low Power Wide Area Network) technology, which is an energy-efficient long-distance network, simply wireless technology, for transferring data between sensors. The project provides sensors with access to the network and a data marketplace that combines various blockchains to provide a smart bidding system.
Similar to the other two projects in the IOT space, MXC announced the small goal of creating a decentralized environment for numerous smart devices. Today, such devices are produced in billions. However, the sensors and microprocessors that currently equip devices such as smartphones, scooters or smart vacuum cleaners do not make them self-contained "smart" products. In order to truly function, a device needs a permanent Internet connection to receive and transmit data and the ability to interact with other systems.
MXC was hatched by Candaq, a case of entering China from Germany. MXC is the first innovative project in Germany founded by a Chinese that combines the Internet of Things and blockchain, and is a representative project in the third generation of innovation in Europe. After MXC signed a cooperation agreement with the governments of Shanghai and Chengdu and promoted its implementation, MXC once again received investment and strong support from the Hangzhou government. stay tuned
IoT capabilities that will be enabled through smartphones
Having constant online access to millions of devices and sensors is easier said than done. The more important issue is actually security. Devices serving smart homes can be hacked and pose a level of danger, such as boiling hot water without water in the kettle. Similar risks are magnified in applications in large industrial enterprises with expensive equipment. No warehouse of goods would agree to hand over all the work to an IoT device, for example, a truck with a self-driving system for loading and unloading goods, without guaranteeing that the system will not be hacked.
Nodle, a decentralized network, provides continuous access to the Internet for IoT devices and sensors. Its participants are the user's smartphones, which act as the internet hub for IoT devices. A smartphone with Internet access provides access to the device via Bluetooth Low Energy technology.
What the Nodle ecosystem has in common with Polkadot's other two IoT projects, MXC and Robonomics Network, is that it enables machine-to-machine communication and opens up the Internet of Things by providing device data for enterprises, government departments, and individual users market.
Nodle's official website highlights that this solution can track the location and route of the delivery vehicle through sensors in logistics services such as shared electric vehicles and shared bicycles. We can also equip anything with sensors, including a package delivered or an electric car parked in a warehouse, to track and analyze dynamic data with sensors.
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Substrate provides a simpler and more efficient construction tool for IoT
Similar to other projects in the Polkadot ecological segment, the Nodle network needs to scale to have the ability to send millions of small microtransactions to smartphone owners as a reward for maintaining the operation of the network. To do this, you need to use Substrate’s development tools. Substrate is a set of blockchain construction tools developed by the Parity team to create custom blockchains for DApps. Written in Rust and integrated with Polkadot's interoperability protocol, the open-access technology enables autonomous IoT networks to connect to other blockchains.
The developers of the Robonomics Network platform, which was created five years ago, already saw the opportunity behind the technology. Substrate is “the most direct route to launching a chain on Polkadot,” according to the prominent founder, Sergei Lonshakov.
As far as Robonomics itself is concerned, the project says it is a parachain built to control robots. By supporting the parallelization of Ethereum and Polkadot, the platform plans to open up a wide range of applications for a decentralized network of automation tasks.
Based on the application scenarios of 13 platforms in different stages of operation, Robonomics is to some extent waiting for the emergence of Polkadot. Robonomics use cases range from drones monitoring the water quality of rivers to cars swapping driving spaces on highways, and their data lacks the ability to be traded on Ethereum. To extend its capabilities, the platform relies on Polkadot’s cousin network, Kusama, which is also built on Substrate.
The team plans to lure developers of IoT services with a suite of tools called Robonomics Web Services (RWS), a decentralized version of Amazon Web Services. But what RWS wants to do more is to outperform its cloud competitors in terms of technical capabilities and security.
It is expected that the development of projects on Polkadot will accelerate in the future, ensuring that hundreds of millions of people can easily interact with artificial intelligence operators, and enterprises will have the opportunity to carry out automated intelligent device deployment services without worrying about external risks. Such expectations provide a clearer understanding of the enthusiasm and rapidly growing capitalization of the Polkadot ecological project.
