"100 billion connected devices, 80 zettabytes of data, and one huge opportunity to connect real-world data with blockchain application."
Last friday, Ankr and the Iotex team came together to talk about the future of the “Internet of Things” movement and how we are empowering development and bridging Web3 with an IoT industry that’s growing in value every day.
You can listen to the full talk below, but read on for a fast breakdown!
Fast Facts on the Internet of Things by 2030:
- By 2030 there will be at least 100 billion connected IoT devices
- These devices are set to generate 80 zettabytes (80 trillion gigs) of data annually by 2025
- The industry will be worth around 12.6 trillion
Source: Tibco
Get Your Machines Working for You in the MachineFi economy
MachineFi is a new category of applications that connect all smart devices and machines to blockchains like IoTeX. These “trusted devices” will likely become one of the largest users of the blockchain as they have an incredible amount of data to record and share.
IoTeX allows developers to create new applications that leverage the enormous amount of data that internet-connected machines provide. This data can be used to inform nearly every kind of software, dApp, and metaverse that may need to adapt based on real-world happenings like weather, traffic, package statuses, locations, etc.
A Few Use Cases:
- X-to-earn — You may have heard of new crypto projects surrounding move-to-earn, interact-to-earn, etc. In short, you prove your activity (from a trusted device) in the real world to earn token rewards. This is similar to the idea of “safe driver discounts” from insurance companies. You plug in your camera to collect data on your driving and earn rewards for being safe — there are almost limitless opportunities to apply similar ideas with blockchain tech. Your data has value, and for the first time, you will be able to own your data and benefit from the rewards.
- Pooling your data — Governments, cloud companies, social media companies, and all corporations harvest an enormous amount of data from everyday people to use for their purposes. A combination of blockchain and IoT has the potential to reform society, allowing a more bottom-up approach to data. If you contribute data to the pool with thousands of others, this is an extremely valuable dataset for the above parties — but they will need to reward you for access to it this time.
- A DAO of Machines– Automated machines are set to replace an ever-increasing amount of jobs and tasks. These machines will drive us around, deliver our groceries, manufacture our goods, sort and ship our packages, and many other things. But who will own the machines that do the work? A handful of corporations, or all of us? IoTeX allows a future for the latter by creating tools that enable developers to build applications that let everyone contribute their machines to work and earn rewards.
Have a Raspberry Pi or Arduino? Get your first IoT Project Off the Ground
Universal dev boards like Arduino and the Raspberry Pi are the perfect way to prototype your first IoT use case. They allow you to design IoT products and machines easily and include trusted elements like crypto chips and decentralized identities that allow you to pair trusted hardware with the new trusted software you are building.
🛠 Get your creative juices flowing here: https://developers.iotex.io/
Mass Adoption for IoT Networks — How Do We Get There?
Henceforth, the main blocker for mass adoption when it came to a convergence of blockchain and IoT was the absence of a gateway between real machine data and the blockchain. But IoTeX allows us to connect this real data to the blockchain while providing a full suite of developer tools and SDKs that let anyone build new use cases.
📖 Learn what you can build here.
⛓️Connect to the IoTeX chain with Ankr’s community RPC.
IoTeX Connects Real-World Data to the Blockchain. Ankr Connects Web3 Developers and dApps to the IoTeX Chain.
The internet of things will require a gateway to relay a vast amount of information to and from blockchains — this is where Ankr comes in. Ankr currently serves around 200–400 requests per second to the IoTeX blockchain coming from developers and dApps interacting with the IoTeX chain. Ankr empowers all devs who want to get involved with the IoTeX ecosystem an easy opportunity to do so.
💻Use the IoTeX RPC
Learn more about IoTeX for Developers
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