Topic > The importance of the “Internet of Things (IoT)”

The importance of the “Internet of Things (IoT)” has become increasingly greater and participates daily in the development of different technologies that require even greater capacity to exchange information and data. Therefore, data exchange platforms emerge every day where service providers can search and exchange the datasets they need. However, some problems arise as centralized infrastructures do not convey trust as intermediaries for such exchange. Therefore, a blockchain-supported decentralized solution using Ethereum and smart contracts to ensure transparent and decentralized exchange is expanded in this paper. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay An essential aspect of the world of IoT is that the collected and selected data is applied to different fields thanks to the extremely advantageous cost but also to the optimization of the ecosystem due to the repeated compilation of data which attracts many platforms of data exchange which unfortunately cannot provide enough trust to ensure transparency and since the lack of trust kills the enthusiasm for sharing data the results are not as satisfactory. Therefore, a decentralized solution based on blockchain would be a great solution. Blockchain consists of data encryption and timestamps within a distributed system. Furthermore, Ethereum smart contracts combined with highly powerful access control offer complete control over a party's data sharing permissions and thus solve the cost and efficiency issues that central institutions face, as well as garnering the trust of all parts. IoT data is collected by different parties who need a platform to exchange it in order to improve its use. Platforms that need to gain trust are divided into three categories: Trusted Trading, Trusted Data Access and Trusted Privacy PreserveTrusted Trading means that the entire transaction process is recorded and cannot be changed by anyone and its history is traceable by the public. Similar solutions already exist; however, because they are developed and maintained by third-party organizations that cannot guarantee transparency, they do not inspire trust. On the other hand, the blockchain-based system stores data in a distributed peer to peer network ensuring total trust as it cannot be altered and is accessible to anyone with complete transparency. Trusted access to data as current platforms require data to be uploaded to a website or special cloud which makes the user unable to control who has access to it. The presented solution separates data exchange into two parts: exchange of source data and exchange of data access rights. The exchange of source data is customized by the provider and controlled on the blockchain which protects it through a consensus mechanism. Additionally, due to the nature of blockchain, it makes verifying permission access more convenient. Trusted Privacy Preserve requirements mean that the data owner is able to protect his private information while on current platforms users must verify their information by linking sometimes very sensitive information that could be hijacked and used for malicious intent that does not guarantee security nor do they inspire trust and therefore since blockchain is an anonymous network, data owners only send information without sensitive private details, which makes it much more secure and reliable. The architecture as the IoT data exchange framework would be based on the.