When Bitcoin began making its way as a household name, a similar and related technology called “blockchain” created waves as being the next big thing. But this splash never materialized.
Looking back, this technology was so new that none could truly leverage its potential. But now fast-forwarding to 2022, experts believe we might be closer to putting Blockchain into protecting your smart home system.
The inclusion of Blockchain in the IoT system is a great alternative for traditional models. Let’s explore how Blockchain is making our smart homes safer!
Blockchain: The Ultra Protection
Blockchain-powered systems offer greater power and flexibility as users can grant or revoke access dynamically from anywhere. Furthermore, they can decide separate accessibility for each device and the duration for which third parties have access.
The problem here is vulnerability to hacking since interlinked devices communicate through a shared medium.
This vulnerability is a serious privacy breach concern. Implementation of Blockchain can help mitigate such issues — trust, privacy, resilience, identity management, and network security — and further strengthen the IoT network to a reliable, secure, and robust system.
Let’s look into how Blockchain acts as the gateway for mitigating these challenges.
Blockchain’s Offerings
· Confidentiality
Smart home systems generally collect and store confidential data; this increases the chances of vulnerabilities.
With encrypted algorithm & configuration, Blockchain brings much-needed confidentiality to our smart home systems.
· Integrity
Data exchange within configurations should be smooth with no room for error in the transformation process.
The other possible scenario of falsification of data records can be reduced with the integration of Blockchain. But first, you’ll need to explore blockchain technology to better understand how the function works.
· Authentication
Configuring smart home systems with an authentication function prevents cybercriminals from penetrating the system maliciously.
This is done with Blockchain verifying whether each user is a valid web member.
Closing Thoughts
The tricky segment of the innovation is developing materials that communicate with consumers in simple terms, basically being fairly easier for those outside the tech space.
As a user with a home network, you might be hesitant about diving into this headlong. But as IoT expands, it will certainly benefit you to protect your average net-ready device. Blockchain has been the promising revolution, and with the newer products prepping to make waves into the market, this is the indication that the time has really come to secure our homes in a more efficient manner.
For more Blockchain technological developments and crypto-related topics, keep up with our Medium blog. If you’re ready to start your journey as a crypto trader, register on IXFI, Your Friendly Crypto Exchange and enjoy a seamless trading experience.
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