Building trust among things in omniscient Internet using Blockchain Technology

Since 1999, when Kevin Ashton coined the term Internet of Things (IoT), till our present days, IoT has evolved from a simple concept to one of the topmost business growth drivers. Along with Machine Learning, Cloud Computing and Big Data, IoT is the foundation stone upon which data- driven digital services are built. In near future IoT will reach a tipping point where most of the data generated in Internet will come from billions of devices that are too resource-constrained to be able to efficiently enforce complex security and data privacy policies. The solution is to use lightweight authentication and agreement protocols for dumb devices and integrate distributed ledger technologies, e.g. blockchain in smarter devices and make use of smart contracts to execute processes on predetermined rules. In this regard, we present a simple smart contract written in Solidity and a young, but very promising, blockchain IoT-centric platform, IoTeX. IoTeX is to become fully operational in 2019, it supports Solidity and Ethereum virtual machine and adopts a blockchains in blockchain architecture, with focus on accommodating a large number of transactions than traditional PoW consensus blockchains. And we finish with presenting some interesting tools incubated by Hyperledger, a Linux Foundation project, that allow us to build bottomtop blockchain building blocks.