Why Blockchain-Based Cloud Computing Could Be The Future Of IoT

Cloud computing blockchain is the future of IoT. But before you understand this process, you have to know the details of cloud computing and blockchain. Cloud computing is the service where one gets the delivery of the database, storage and even the internet on local server. The access of cloud computing ensures that the data you store is easily available in all the devices from which you can access.

The use of cloud computing is increasing at the nominal speed every year. Big shots companies are coming and taking the advantage of the cloud computing in a better way. Some of the companies are the big shots one that help the cloud computing service to survive in a better way.

What are the loopholes in the mechanism of cloud computing?

The main problem in cloud computing is the security issue. It has a huge exposure of so much data all around the world and therefore, gives people anxiety regarding many things. Hacking and malfunction of the data. Data security breaches with unauthorized access. Attackers easily finding weak points in the system process. All sensitive and personal information being malware. Beyond security concerns, people also worry about a possible lack of operation from the cloud provider- which would result in chaos and downtime of the entire network- ultimately causing them to not be able to access their critical information. However, there is a solution to the security risk inherent in cloud computing- which is where the blockchain comes in.

What is a blockchain?

Blockchain technology depends on the ledger mechanism. Here, all parties will build a series, or chain, of blocks on which any transactional information is recorded. All network participants must reach a consensus, and agree on verification and authentication. An advantage of blockchain is that it is immutable. If someone puts data in the blockchain, it will stay there forever. The assistance will help you know how, where and when you can use the information. It will safeguard the asset security and the information that you save in the cloud. Therefore, blockchain technology addresses the issues posed by cloud computing.

Want to learn more about blockchain technology?

How both blockchain and IoT technology has integration?

  • It establishes a secure transfer of data which adds an extra security layer. The purpose is to ensure that the hackers will go through extra security to access the network data system.
  • Maintenance of ledger for IoT data modification. The blockchain will keep the modification records with involved parties in the network of IoT.
  • Blockchain technology keeps records of data modification to prevent data leaks.
  • Blockchain technology reduces costs by not requiring unnecessary system hardware and unifying security protocols.

Evolution of blockchain in Internet of Things

Few companies adopt the technology that will generally look into the blockchain application in the IoT and there are a few innovative forms. CoT (chain of things) requires you to analyze the blockchain with the IoT. It gives security, identity and even the ability to manage the interoperability devices. The protocol of IOTA is to offer the fast transaction and its settlement. Even the infrastructure will be helpful in the microdata analysis in the large number and offer the best solution in both blockchain and IoT. 

Blockchain has already had a big impact in the cryptocurrency market. It has even invited the intervention of many brands. Blockchain has, and will continue to, revolutionize the industry of finance- and cloud computing will no doubt receive the same treatment.

Need other tactics to secure your data in the cloud? Read our article here.

How blockchain and IoT benefits each other

The assured amount of security associated with blockchain gives an opportunity to improve the technology. It helps one understand that the growth of the block technology can be discussed in a secure platform- which is effective for the greater good. Therefore, it is very important for us to understand the basics of this technology and achieve the best result on managing the security of the work.

Not only is blockchain tech effective, it helps reduce costs- making it a perfect balance of cost-efficiency and productivity. It opens up new opportunities and possibilities that can help in your business growth. Investing in this relatively new tech will reduce room for inefficiencies in your systems, and reduce damages caused by security risks. The blockchain technology will give you better opportunity and make you feel confident about the use of the same in the IoT.

Not only do blockchain and IoT go hand-in-hand, they’re skyrocketing in popularity. Read more here.

Conclusion

While there are obvious advantages to cloud computing, the security risk is major drawback. Cloud computing offers so much exposure. There are no more transfer loads when you need to change the device. You can access the files and data from anywhere and from any device. It reduces time and even resources. Researchers have been searching for a solution and found one in blockchain. Blockchain is secure, immutable, requires consensus of all users, cost-efficient and doesn’t require lots of hardware. Blockchain is a new form of tech, meaning it has a long way to go in the best way. As blockchain develops as a form of security tech, it will no doubt become prevalent in not just the financial industry, and in cloud computing- but in many other forms of future tech as well.

Author Bio: Prashant Pujara is the CEO of MultiQoS Technologies Pvt. Ltd., which provides flutter web design services where you can hire developer for your business. He is in charge of the company’s commercial and delivery operations and strategic planning and strategy.

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