Kadena’s Blockchain uses ScalableBFT to offer high-performance (8,000-12,000 transactions per second) with full replication and distribution at previously impossible scales (the capacity for more than 500 participating nodes). This, along with the multi layered security model and incremental hashing allow for a truly robust blockchain. Based on Raft and Juno, Kadena embeds a full smart contract language (Pact) into its blockchain that can be run as either public (plain text) or private (Double-Ratchet encrypted) transactions. It is a huge step forward in the blockchain space, possibly representing a new-generation of blockchain technology entirely by it’s introduction of the idea of “Pervasive Determinism.”
The blockchain is essentially a database shared across thousands of computers that is cryptographically secured. It is a natural evolutionary step from traditional centralized server networks to distributed computing. Every computer or device in a blockchain network receives an updated copy of the ledger, and any changes to the ledger are reflected in every copy in minutes or even seconds. Security is maintained cryptographically through keys, signatures and a consensus of validators.
A few weeks ago in Wanchai, Hong Kong, Chain of Things held its first Chain of Shipping conference. Designed to give professionals from the shipping industry and blockchain developers a view into the needs and possibilities that they respectively held, the day was a busy event with plethora of information provided from both sides – blockchain developers and members of the shipping industry.
In this investigation we look at the role of blockchain (and partly) IoT in removing barriers to adoption of solar energy. One barrier is that Green Investments lack transparency - blockchain offers a technology that enhances transparency. The second barrier is optionality available for producers of solar energy - blockchain addresses this by creating new incentives and by increasing the options available in terms of the disposal of excess energy produced.
The shipping industry has to address excess administration. Bills of Lading are paper based and fraught with forgery/fraud. Going digital is not feasible as the digital world is duplicable and the industry has to be able to accept the culture change. Bitcoin however creates the first unique digital file that is non duplicable. Blockchain combined with bills of lading could therefore provide the security needed for the industry to go digital.
Chain of Things, a Hong Kong-based blockchain and IoT startup, has received promotional support from the Hong Kong Cyberport, the Hong Kong Science and Technology Parks Corporation (HKSTP), and two shipping associations for its case study event on blockchain in shipping.
How to terminate an unsecure IoT device. In our last post we talked about smart contract security. Our theory is that a community investment in smart contract security might lead to an IoT industry that can deploy devices with cheap but highly secure software. In our Chain of Security group we have looked into this area in more detail. Our partner Sensify said that the challenge with the recent DDoS attacks using IoT (Mirai attacks) is that they exploit the vulnerabilities in the firmware of the devices without changing the firmware.
Chain of Things Limited, a Hong Kong-based blockchain+IoT startup, is holding a case study event on 24th of November 2016 in the midst of the Hong Kong Maritime Industry Week. The goal of the case study is to examine the suitability of utilizing blockchain technology – the distributed network technology behind Bitcoin – to replace traditional paper-based trade documentation and secure electronic documentation against cybersecurity threats.
Guardtime and embedded authentication company Intrinsic-ID have announced a partnership to deliver customer solutions combining Intrinsic-ID’s SRAM Physical Unclonable Functions (PUFs) and Guardtime’s Keyless Signature Infrastructure (KSI) blockchain technology, providing scalable security and governance for the Internet of Things.
Low security IoT is now no longer just a risk for the buyer, it is a risk for others as well. If I buy a low quality thermostat I am no longer only faced with the issue that it may not work because it is cheap, other people are also faced with the danger that it may go rogue and participate in a zombie device botnet surge.
This week we invite Blockchain specialist and strategy analyst from Chain of Things, Mr. Conor Colwell, to the show to discuss cryptography, security and IoT industries globally. Chain of Things is set up to explore all security applications within blockchain IoT and look at the development of open-standards for the industry to use. So sit back, press play, and dive in. (Repost from The Bitcoin Podcast)
Hyperledger, a Linux Foundation open source project for advancing blockchain technology, recently announced that Airbus has joined as a premier member of the project. As a Premier member, Airbus can actively contribute to the development of the project’s mission to create an enterprise grade, open source distributed ledger technology.
Some Australians may soon be able to use blockchain technology to buy, sell or swap excess solar energy with anyone connected to the countries Western Power network, if the trials prove successful for the Perth-based startup Power Ledger
R3 and 15 of its consortium member banks have successfully completed two prototypes that demonstrate how distributed ledger technology can address the key challenges facing the USD 45 billion global trade finance industry.
A report titled ‘Smart Contract Templates: foundations, design landscape and research directions’ was published recently, examining some areas of focus and interest for the future of smart contracts. Christopher D. Clack Centre, Blockchain Technologies Department of Computer Science at University College London; Vikram A. Bakshi and Lee Braine from Investment Bank CTO Oﬃce at Barclays, covered a framework for smart contracts with both operational and non-operational aspects.
One of the areas that could have significant potential for blockchain-enhanced IoT tech is facilities management. The advent of smart cities and intelligence buildings is transforming the facilities management and maintenance industry, applying new technologies to enhance operations, safety, security, and customer experience. This will require usage of a multitude of sensors and devices for the many different areas of facilities operation.
Last week, at a GSMA event in Tanzania, Chain of Things (CoT) revealed how it is using blockchain technology to enhance the security of Internet of Things (IoT) devices. Conor Colwell, COO & Co-Founder, was invited to speak to the Mobile for Development (M4D) Utilities Africa Working Group, held on 24th and 25th of July 2016 in Dar es Salaam, Tanzania.
A decentralized payment system is likely a key technological innovation that will enable new ways for machines and computers to interact with each other. The possibilities offered by programmable money and the use of distributed networks to offer on-demand computer power have the potential to bring a boost in efficiency by reducing machine idleness in exchange for fees."
Our technology builds upon Blockchain to allow non-financial institutions to invest and fund a manufacturing contract, to maintain the record of past performance and provide it transparently to the ultimate buyer who quickly can become aware of any delays or issues down the chain, and to enable SMEs (Small and Medium Enterprises) to raise funds for manufacturing on the basis of the purchase order they managed to solicit.
This again highlights that IOTA is meant for machine-2-machine and big changes to accommodate for human usage will cause trade-offs. In conclusion: we will never prioritize human usage over IoT in IOTA.
Skuchain's Smart Contract application i.e. Brackets, has a framework to accept a signed signal that meets a certain threshold and can be used by existing sensor companies to trigger blockchain events...
In-brief: In this Security Ledger podcast, we speak with the guys from Chain of Things, a new consortium that is investigating applications of Block Chain and related technologies to solving identity and security problems for IoT deployments...
On one hand you have an emerging industry that is going to bring a technological 'consciousness' to billions of devices in every corner of the globe. On the other hand, you have a revolutionary technology in the Blockchain that has yet to be successful hacked or disrupted...