IBM Patent Appears To Tackle the IoT/Blockchain Conundrum
According to a patent application discovered last week (which was originally filed in October 2016), IBM engineers detail a new blockchain configuration that may help secure Internet of Things (IoT) device networks.
Per the application, which was originally found and reported on by Coindesk.com reporter David Floyd, the new blockchain configuration would use "a predefined set of nonce values when determining the proof-of-work, storing the proof-of-work on a blockchain, and broadcasting the proof-of-work as a broadcast message."
According to Floyd's article, the traditional blockchain configuration used for bitcoining isn't sufficient for connecting IoT devices, "largely because a smart toaster or lightbulb can't harness the power of a warehouse full of specialized computers," he explains. "At the same time, a large-scale blockchain mine could conceivably have an easier time of attacking a network of IoT devices and, thus, potentially compromise it."
The IoT/blockchain conundrum is also well explained in this article.
IBM's use of proof-of-work and how it's stored, plus a predefined set of nonce values, as covered in the patent, appears to solve this issue by limiting both the competition within the blockchain for power and outside threats from attempting to control that power.
For more information, read the full Coindesk.com article or check out the patent application itself.
About the Author
Becky Nagel is the former editorial director and director of Web for 1105 Media's Converge 360 group, and she now serves as vice president of AI for company, specializing in developing media, events and training for companies around AI and generative AI technology. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. Find her on X/Twitter @beckynagel.