Skip to content
WONGCW News

WONGCW News

Crypto Is Likely Going To Herald Industry 4.0 using Blockchain and IoT

Crypto Is Likely Going To Herald Industry 4.0 using Blockchain and IoT

January 16, 2021 wongcw Comments 0 Comment
Article Image

Whilst most of the people only began to study “blockchain” due to Bitcoin, its roots – and applications – go much deeper than that. Blockchain may be a technology unto itself. It powers Bitcoin, and is actually the rationale why so many new ICO’s have flooded the market – creating an “ICO” is ridiculously easy (no barriers to entry). The point of the system is to make a decentralized database – which essentially means instead of counting on the likes of “Google” or “Microsoft” to store data, a network of computers (generally operated by individual people) are ready to act within the same way as a bigger company. To understand the implications of this (and thus where the technology could take industry) – you would like to see how the system works on a fundamental level. 

Created in 2008 (1 year before Bitcoin), it’s an open-source software solution. this suggests its ASCII text file are often downloaded edited by anyone. However, it must be noted that the central “repository” can only be changed by particular individuals (so the “development” of the code isn’t a free for all basically). The system works with what’s referred to as a Merkle tree – a kind of knowledge graph that was created to supply versioned data access to computer systems. 

Reason being that the interesting thing about “crypto” is that – as especially evidenced by the likes of Ethereum – the varied systems which are built on top of it can actually be programmed to figure with a layer of logic. This logic is basically what IoT / Industry 4.0 has missed so far – and why many are watching “blockchain” (or an equivalent) to supply a base-level standard for the new ideas moving forward. This standard will provide companies with the power to make “decentralized” applications that empower intelligent machinery to make more flexible and effective manufacturing processes.  

Source:https://cryptobusinessworld.com/Article/4684/crypto-business-world-crypto-is-likely-going-to-herald-industry-4-0-using-blockchain-and-iot

Related


Technology

Post navigation

PREVIOUS
Dan Held of Kraken- Blockchain Journey to know
NEXT
Crunch the Numbers Before They Crunch You

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More results...

Generic filters
Exact matches only
Search in title
Search in excerpt
Search in content
Filter by Categories
Business
Cryptocurrency
Cyber Security
Entertainment
Featured
Giveaway
Health
Musical instrument
Network
SEO
Social Media
Software
Sports
Technology
WordPress
Content from
Content to
January 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Dec   Feb »

Categories

  • Business
  • Cryptocurrency
  • Cyber Security
  • Entertainment
  • Featured
  • Giveaway
  • Health
  • Musical instrument
  • Network
  • SEO
  • Social Media
  • Software
  • Sports
  • Technology
  • WordPress

Archives

Recent Posts

  • Arkansas Solar: 7 Things You Should Know
  • Overview of  calculator-online:
  • What Is an ALTA Survey? Plus 3 Reasons You Need One
  • Debunking the Most Common Bitcoin Trading Myths That Exist Today
  • Solar panel system: How it works and what are the benefits?
  • All About JPG Images: How to Download, Edit, and More
  • How to Create Engaging Instagram Reels for Your Brand
  • What is Safety of Showering After Taking Ivermectin
  • Weight Loss Tips Using Diet Chart For Your Best Health
  • How to Find the Right Female Escort in the USA for You
© 2023   All Rights Reserved.