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1. What currency is lotx?

IOTX currency is the token of the IoTeX network, and its full English name is IoTeX. As the IoTeX network token, IOTX currency is also the main component of the IoTeX network ecosystem. It can be used to transfer money, run distributed applications, and motivate community participants. IoTeX is a self-scaling, privacy-focused blockchain infrastructure for the Internet of Things (IoT). IoTeX is committed to building a next-generation blockchain platform to support IoT applications with lightweight, private, and easily scalable disruptive blockchain underlying technology.

IoTeX Project Team

The development team behind IoTeX consists of eight talented individuals with impressive educational and professional backgrounds. The entire team is equipped with project-relevant skills such as cybersecurity experience and extensive blockchain/cryptography related experience. Members of the IoTeX team also work with Facebook, Google, Uber and other tech industry giants. The co-founder of the project, Raullen Chai, is a Ph.D. and a cryptography researcher. He has served as a security engineer at Google and is also the head of Uber's password research and development. Raullen Chai has over 8 years of experience in blockchain technology.

2. What is the Internet of Things, what is blockchain, and what is big data?

The development of blockchain to today has already evolved from the initial financial Transactions extend to all applications that require intermediary guarantees or certifications, such as house transactions, car sales, etc. Blockchain technology can even be integrated with other application services through API connection, thereby accelerating the creation of various Innovative applications can even help accelerate the development of IoT applications.

The earliest application of blockchain is Bitcoin. Blockchain is a series of data blocks generated using cryptographic methods. It is like a database ledger, and the ledger also contains data from Bitcoin. All transaction records since then include multiple block records. Each block corresponds to a part of the transaction and records the hash value of the previous block, forming a chain-like data structure.

Many experts believe that the emergence of blockchain technology solves the missing link in the security, privacy and reliability issues of the Internet of Things. It can be used to track billions of interconnected devices, facilitate transactions and collaborative processing between devices, and save a lot of costs for the IoT industry. This decentralized approach will eliminate single points of failure and create a more reliable of devices running the ecosystem. At the same time, the encryption algorithm used in the blockchain can also bring higher privacy to consumer data.

The advantage of the blockchain is that it is public, and every network participant can see the blocks and the transaction information stored in them. However, this does not mean that everyone can see your actual transaction content, which is protected by your private key.

Blockchain is decentralized. There is therefore no single authority that can approve transactions or set special rules for the receipt of transactions. This means that there is a huge amount of trust between participants, so all network participants must reach a consensus to receive transactions.

The more important point is that the blockchain is very secure. This kind of data can only be continuously expanded, and previous records cannot be changed. And the ledger used by the blockchain is tamper-proof and cannot be manipulated by criminals. This ledger is not located in a specific location and cannot be attacked on middlemen because no single communication thread can be intercepted. .

Blockchain can be applied to the Internet of Things to ensure information security. For example, manufacturers of equipment and instruments can use blockchain technology to trace back the manufacturer, production date, manufacturing batch number and even the manufacturer of each component. Other information about the manufacturing process to ensure the transparency and plasticity of the entire machine production process, effectively improve the availability of the overall system and components, and thereby ensure the safety of the operation of equipment and instruments.

The unique consensus mechanism of the blockchain connects various devices through a point-to-point method, rather than through a central processor. Each device maintains consensus and does not require central verification, thus ensuring When a node has a problem, it will not affect the overall data security of the network.

Now, as blockchain technology continues to develop and heat up, Shenzhen Beihang Internet of Things Research Institute (www.buaaiot.org) believes that it will also change and integrate into various fields in its own unique way. industry. The birth of blockchain technology has made various algorithms more efficient. Its decentralized principles and distributed computing rules allow everything to be connected and calculated in seconds, and prevent hackers from attacking data. All kinds of assets can be realized in the area. Registration, transactions and data on the block can never be tampered with or reversed. This intangible charm allows various assets to gather on the block.

3. Is the blockchain that issues digital currencies such as the integrity currency CXC a disruptive technology? Can it change the existing business model?

The current Internet is an information Internet. The blockchain that issues the integrity currency CXC is for the Internet of credit value. With the popularization of technology, we will usher in a value network where everything is interconnected. Take the blockchain that issues the integrity currency CXC as an example. It has a wide range of uses. Because blockchain has the characteristics that information cannot be tampered with and cannot be repudiated, it can be used in many transaction situations. It provides technical support for transaction credit and other aspects, which is beneficial to eliminating distrust in all aspects of transactions and is beneficial to business development.

In addition to solving credit security issues, it can also enter the following fields:

1. In the future, music copyright distribution may enter the blockchain stage, removing the centralized environment. Give musicians more direct benefits. In the past, releasing records required going through record companies or the Internet to increase user stickiness. Intermediate links such as promotions would charge a lot of fees, and the actual money given to the authors was notMany, because the original copyright is still in the hands of several major record companies. After decentralization, authors will no longer have part of their profits eaten up by copyright companies.

2. In terms of writing copyright, for example, you may have to hire a special publisher before, and this copyright cannot be sold multiple times. In this way, the author will have very little money, and with blockchain Everyone who uses the technology needs to pay royalties to the author, not just a single publisher.

3. The combination of the Internet of Things and blockchain technology produces the Blockchain Internet of Things (BLOT). uail IoT can greatly reduce the risk of hacker attacks. With the help of blockchain IoT, obtaining warehouse sensor data will become as easy as picking up your own mobile phone.

Kevin Kelly's book "Out of Control" became a benchmark for the development of the Internet. In his later book "The Inevitable" he also mentioned that "technology has inherent preferences, making it super-networked" A certain direction. All other conditions being considered, the physical principles and mathematical principles that determine the dynamics of technological development will favor these specific behaviors."

So the editor believes that, whether you believe it or not, The development of blockchain technology is an "inevitable" trend, and some valuable digital currencies such as Integrity Coin and Bitcoin are generated based on one of the rigid needs, so they are worthy of investment and long-term ownership.

Today’s blockchain is like the Internet in 1944. The development of the times will filter out the best technological products, and this is just time. At present, there are too many "fake blockchains" making a fuss about blockchain. This is because many people blindly enter the currency circle without understanding it clearly; they want to make a big profit in the currency circle and make a fortune.

The "pseudo-blockchain" is aimed at these "leeks" who enter the currency circle without learning anything. Making money is like running away. In fact, it has no technical content at all and cannot solve anything. Practical problems. In fact, rather than buying coins, it is more important to learn the logic behind blockchain technology, so that you can judge "really" good projects.

4. What are the applications of blockchain technology?

Blockchain has become so popular, so what are the application fields of blockchain?

At present, the most extensive and successful application of blockchain technology is the digital currency represented by Bitcoin. Digital currency has developed rapidly in recent years. Due to the characteristics of decentralized credit and frequent transactions, it has a high transaction value and can maintain a relatively stable price through the development of hedging financial derivatives as a quasi-super-sovereign currency.

Financial institutions are the most willing to explore blockchain applications and need new technologies to improve operational efficiency and reduce costs to cope with the current status of the entire global economy. Objectively speaking, the market space in the financial industry is huge, and a little progress can bring huge benefits. The financial industry is an industry with extremely high requirements for security and stability. If the application of blockchain in the financial field is verified, it will have a huge demonstration effect and quickly spread in other fields.Promotion of other industries. In the financial field, in addition to digital currency applications, blockchain has gradually begun to be applied in cross-border payments, supply chain finance, insurance, digital bills, asset securitization, bank credit reporting and other fields.

As the application of blockchain technology in the financial field continues to be verified, its technical advantages are gradually showing value in other industries. At present, blockchain application projects are gradually being implemented in fields such as medical and health, IP copyright, education, culture and entertainment, communications, charity, social management, sharing economy, and the Internet of Things, and "blockchain" is becoming a reality.

(1) Blockchain medical care: In the medical field, blockchain can use its anonymity, decentralization and other characteristics to protect patient privacy. Electronic health (EHR), DNA wallet, drug anti-counterfeiting, etc. are all possible application areas of blockchain technology. IBM predicted in last year's report that 56% of medical institutions around the world will invest in blockchain technology by 2020.

(2) Blockchain Internet of Things: The Internet of Things is a very broad concept. If communications, energy management, supply chain management, sharing economy, etc. are included, the Internet of Things with blockchain technology Application will become a very important application field.

(3) Blockchain IP copyright & cultural entertainment: Since the Internet became popular, digital music, digital books, digital videos, digital games, etc. have gradually become mainstream. The rise of the knowledge economy has made intellectual property rights a core element of market competition. However, intellectual property infringement is serious in the current Internet ecosystem, and the copyright protection of digital assets has become a pain point in the industry. Blockchain has the characteristics of disintermediation, consensus mechanism, and non-tampering. Blockchain technology can effectively integrate all aspects of the cultural and entertainment value chain, accelerate circulation, and shorten the value creation cycle; at the same time, the value of digital content can be realized Transfer, and ensure that the transfer process is credible, auditable and transparent, effectively preventing piracy and other behaviors. Blockchain Public Services & Education: In the fields of public services, education, closed-door charity and public welfare, issues such as file management, identity (qualification) certification, and public trust all exist objectively. The traditional method is to rely on third parties with credibility. The company makes credit endorsements, but problems such as fraud and deficiencies still exist.

5. Virtual Currency Ranking

1. BTC: Digital Gold
2. ETH: Smart Contracts and Electronic Cash
3. BCH: Bitcoin Clone
4. XRP: Enterprise transfer network
5. LTC: A faster version of Bitcoin
6. DASH: A more private Bitcoin clone
7. NEO: Chinese version of Ethereum
8. NEM: New Economic Movement Digital Asset
9. XMR: Anonymous Digital Cash
10. ETC: Ethereum Clone
11. IOTA: Internet of Things Transfer
12. QTUM: Smart Contract
13. OMG: Banking Industry, remittance, exchange
14. ZEC: anonymous digital cash
15. BCC: investment fund similar to Madoff
16. LISK: distributed APP written in JAVA
17 , ADA: Layered digital cash and smart contracts
18. TETHER: 1 USD
19. XLM: IOU of digital cash
20. EOS: Distributed APP on WEBASSEMBLY
/>21. HSR: Blockchain exchange
22. WAVES: Distributed exchange and crowdfunding
23. STRATIS: C language version of distributed APP
24. KMD: Distribution ICO
25. ARK: Blockchain exchanger
26. ETN: Clone version of Monero
27. BCN: Anonymous version of digital cash
28. STEEM: Token REDDIT for coin voting
29. ARDR: A parent chain that can generate a blockchain
30. BNB: Compensation for Binance transaction fees
31. AUGUR: Distributed prediction market
32 , PPT: Blockchain bill financial system
33. DCR: Bitcoin with autonomous management mechanism
34. PAY: Digital currency payment card
35. MAID: Renting hard drive space
/>36. BITCOINDARK: Clone version of br />40. GAS: Pay NEO’s transfer fee
41. TRX: In-APP payment
42. VTC: Clone version of Bitcoin
43. MONA: Japanese version of Dogecoin
/>44. FCT: Distributed data record
45. BAT: Distributed advertising network
46. SALT: Mortgage network based on digital currency
47. KNC: Distributed exchange
/>48. DOGE: Cute Bitcoin Clone Coin
49. DGD: Gold digital monetization managed by the company
50. WTC: Internet of Things Blockchain
51. Jiuzhuang BCBOT

6. What is the Internet of Things, what is big data, and what is the blockchain

1. What is the Internet of Things

In fact, to put it simply, big data assists decision-making by analyzing and mining a full amount of non-sampled data.

Characteristics of big data

Big data refers to the purpose of serving decision-making and requires new data processing models to collect and store its content., manage and analyze massive, high-growth and diverse information capital.

Big data has the following essential characteristics:

1. The fundamental purpose is to serve decision-making. Big data can help various organizations and individuals greatly improve their decision-making capabilities and make better decisions. Decision-making and judgment;

2. Large scale, big data usually refers to the amount of data above 100T, which is difficult to rely on traditional computing methods to effectively calculate, but must rely on new computing methods and data mining tools;< /p>

3. High frequency. Big data is data generated by user participation and interaction. It is used to understand user-related data in a timely manner based on the user’s network traces. This kind of data is high-frequency based on days or even hours. data. The frequency of traditional data is very low, and a lot of data is calculated by month or even year;

4. Fast, big data is real-time data and can respond in real time. For example, entering a keyword in the Internet search box can be displayed instantly, while traditional data collection methods are seriously lagging behind;

5. Always online. Online is a prerequisite for big data. From this perspective, big data is always online and can be called at any time. By analyzing user traces on various network terminals, big data can better analyze users' behaviors, emotions, thoughts, hobbies and needs for better decision-making and analysis.

Three key points of big data

First, the availability of data. At present, the development of big data in China is seriously restricted by the lack of openness of government information. Many data are difficult to obtain, making it difficult to realize real big data mining and analysis. This requires the government to open more data in a timely manner to improve the reliability of the data. Gain degrees.

Secondly, carry out scientific model construction. The scientific nature of the model directly determines the quality of data analysis, which requires a high level of modeling. Of course, a larger amount of data will also help in the reasonable construction of the model.

Third, use experts to refine opinions. Unique, high-quality perspectives based on data mining that provide the basis for decision-making are highly dependent on high-quality data interpretation, which reflects the value of industry experts.

Provided by IoT Media

7. Hard Technology: The 4-year battle for international standards for the Internet of Things, blockchain and digital currency is finalized

Keke, who has been surfing the Internet for many years, can more or less personally experience the historical cycle of "the waves behind the Yangtze River push the waves ahead, and the waves in front die on the beach."

Every once in a while, there will be an overwhelming number of industry players, analysts and media, desperately hyping topics that may seem illusory, but are absolutely guaranteed to be closely linked to business speculation, among other things, like Grid computing, blade servers, cloud computing, Internet of Things, machine learning, fog computing, edge computing at the beginning of this century, and blockchain, which has become popular due to the crazy hype of digital currency recently, are all key points that you must be familiar with. After words inexplicably occupied a large amount of media space, they were unknowingly replaced by more sensational technologies.Marketing terms are drowned, "It's over before it begins." Only search engines such as Google leave historical traces for future generations to look up to.

To put it bluntly, everything remains the same. The development trajectory of modern information science is limited by a single computing container. After all, it has its limits. It cannot be separated from the distributed computing and many dazzling technologies that support huge services. Marketing terms, looking back in hindsight, are just a part of a blind man's approximation, a processed compound deliberately packaged by human beings' stupidity and greed.

"Internet of Things (IoT)" and "Blockchain (Blockchain)" have established a firm foothold on the stage of history. Almost no one dares to deny that "Internet of Everything" and "Decentralization" It will form the basis of "NewInter", but due to many factors, the application level of these two technologies has not yet reached the world's initial expectations. But when the two are combined into one, it will open up another brand-new application field, enough to change human life and the future.

The Internet of Things has been popular for so many years, but its large-scale promotion seems to be standing still

The craze of the Internet of Things is not a matter of just a few years, but it has never been widely seen around you and me. This factor is very complex, and it has both "technical threshold" and "business model" aspects. It has prevented us from seeing the IoT world described in science fiction.

What is the technical threshold?

The Internet of Things is nothing more than deploying a large number of intelligent terminal devices, but the data collected by these terminals will ultimately serve human beings. This has triggered doubts about the mutual trust between people and devices: How can humans trust the devices? , how can the device trust humans, and how can the device and the device confirm with each other that the data is correct and will not be tampered with.

If the data transmission and exchange of the Internet of Things goes into chaos, many lives will be lost. I believe no one wants the Internet of Things devices in their home to be hacked and messed with by hackers and "suicided". For example, It’s a ridiculous scene to sleep with all the windows closed at night, all household appliances, bathroom gas stove and water heater turned on to maximum to kill you alive.

Why do we need a business model?

Next, after obtaining data through the Internet of Things, for example, what is the current temperature in my home, and how are the crops in the farmland growing now, from data collection, data distribution, and data conversion into meaningful information, all the way to multiple subjects Sharing information among others involves "ownership", "rights of use", and "distribution of value", and derives a series of "credit" and "value" issues.

It is one thing to collect a lot of data. How do you make this data generate corresponding value and have the credit foundation, business model and ecosystem to promote its operation? That is another. Something happened. Isn’t it true that over the past few years, there haven’t been enough “IoT platforms” that have been put out there but have been ignored for a long time?

The absurdity of today’s digital currency

Fortunately, the blockchain is the best answer to kicking away these two stones blocking the road, ensuring the credibility and security of the data, and giving the data value. ThatTransformed into a denominated digital token (Token), the huge data produced by the Internet of Things in the actual application process can become the credit basis of this token, instead of just wasting the earth's resources and wasting huge "mining" power. Moreover, apart from the exchange between digital currencies, there are no "commodities" that can be traded, which completely violates the original intention of "reducing transaction costs" in the nature of currency. This is really the biggest absurdity of digital currency.

Many tech nerds tend to sneer at "business" and hold a dismissive and disdainful attitude, but please think about it. Today, the Japanese anime and manga industry and fan products are so popular all over the world. What is behind the development of the industry? , definitely not otakus who stay at home, but "commercialization" that adds fuel to the flames. The prosperity of all industries in the world can also be traced. It is really not difficult at all to understand such a simple truth.

4 Development Stages of Blockchain Technology

Now when talking about blockchain, most people only think of Bitcoin and Ethereum, but blockchain is not that simple. Although there are different opinions, generally speaking It can be defined as the following 4 stages of development.

Blockchain 1.0: Bitcoin not very friendly to polar bears. Blockchain 2.0: Ethereum’s smart contract. Blockchain 3.0: Realize the integration and interoperability between refining and refining, and then conduct cross-refining contracts. Blockchain 4.0: Create an Internet of Things blockchain. Digital assets come from data in the physical world. Blockchain establishes mutual trust at the bottom of the Internet of Things and fills the trust mechanism for information use. On the one hand, we establish the Internet of Things ecosystem, and on the other hand, we establish business models and economic models. Create a trustworthy IoT blockchain ecosystem. Successful products will never advance by relying on technology alone

After integrating blockchain, will the development of the Internet of Things be smooth sailing? Of course not. Any successfully promoted products and applications in the world never rely solely on "technology" to achieve success.

If there had been no OSI seven-layer model thirty years ago, the Internet would not have evolved so rapidly. Without a "framework", which is the so-called international technical standard, everyone is "diversified and small in quantity", and there is no economy of scale. No matter how many new startups there are, they will die heroically. After all, the Internet of Things covers the information exchange needs of the entire world. Without an alliance or ecosystem, everyone will be working alone and unable to pool resources. Real implementation and application will only make the esoteric technology stagnant in the wild imagination.

Without a frame, it is like a house without blueprints. If you only have bricks and cement, you still cannot build a stable high-rise building from the ground.

Four years of international specifications war

After more than four years of specifications war, the ISO/IEC30141 "IoT Reference Architecture" (IoT Reference Architecture) promoted by China and assisted by Germany and Sweden at the end of 2017, Passed the draft international standard voting (DIS), and officially made China’s “six-domain model (six-domainml)” a national standard.The national standard GB/T33474-2016 has jumped on the wave of IoT blockchain. The six-domain model plays a role similar to the OSI seven-layer architecture thirty years ago, and its importance to the future of the Internet of Things is self-evident.

How did this "international standard" take shape? How did the United States, Japan, and South Korea desperately block China's proposal? How many "international wars" are hidden behind the private wrestling and power struggle between big powers? It's scary, don't ask.

Is there already a corresponding implementation?

"SDChain (Six-DomainChain)", which launched the project in May 2017 and passed the blockchain technology test of the Ministry of Industry and Information Technology of China in October, is the world's first implementation of ISO/IEC30141. The foundation is set up in Singapore, and its digital representative Coin SDA (Six-Domain Asset) opened for trading on January 8, 2018.

The "six-domain model" defined by ISO/IEC30141 and the "six-domain chain" created by SDChain, the former is a methodology for integrating the Internet of Things with all walks of life, and the latter provides a more robust decentralized public chain. The bottom layer, and establish practical applications and communities.

As for the "magical coincidence" between the initiator of the SDChain project and the editor-in-chief of the ISO/IEC30141 specification, please pray to the gods of Google yourself, and it is inconvenient to write about it here.

Does the consensus algorithm of the Internet of Things really require a blockchain?

This is a highly controversial topic, especially after the "blockless decentralized ledger" IOTA has attracted everyone's attention, the advantages and disadvantages between blockchain and DAG (Directed Acyclic Graph, directed acyclic graph) have always been It is constantly being watched and commented on by everyone.

From a financial point of view, compared with blockchain, DAG is not subject to block size and proof of work (POW), is free of transaction fees, and can save bandwidth and power consumption. In theory, DAG It has stronger scale scalability, but there are also concerns about double payment confirmation and the lack of "consensus" in the traditional sense. The canceled transaction fees are also regarded as an important link in the practical field to improve the security of the blockchain. Therefore, These characteristics may limit its scope of application. The lessons of history have proved that if there are already academic disputes, there will only be more problems in practical applications. These will need time to prove.

In addition, due to the negative influence of the unhealthy trend of currency speculation, public opinion these days has been distorted into "whoever looks more popular, whose digital currency price is higher, which technology must be more advanced", but The focus is on ecology, not currency. The consensus algorithm should be determined by the application scenario. Whether it can be "mined" is even less valuable. It does not contribute to mankind at all.

The Internet of Things is in the darkness before dawn

From the time when the concept of the Internet of Things was proposed, to when blockchain became popular due to Bitcoin, blockchain has gradually shown its potential to solve the chronic problems of the Internet of Things, until International standards emerge to provide an overall architectural framework that can be followed, enough to help all walks of life truly clarify what the Internet of Things is, so it took nearly two decades.

Looking further, from the OSI model thirty years ago to today's six-domain model, these thirty years have been an era of transformation from "communication automation" to "execution automation". , things will automatically communicate with each other and exchange what they need. How will we manage the "one trillion" connected devices we can expect? How to improve your life? How to create wealth? This is the biggest challenge of our time.

Companies that enter the Internet of Things industry at this moment and have the ability to provide perfect solutions will have the opportunity to become technology giants in the future. You may be lucky enough to witness the Internet of Things changing our lives and the birth of new technological hegemony. It is worth waiting and watching as we step out of the darkness and prepare to welcome the dawn.

8. Energy Blockchain Research | The Internet of Things can improve the efficiency of cryptocurrency mining

Everyone who understands cryptocurrency knows the shortcomings of this currency, and its impact on the environment bear the brunt of the impact. Is it possible to mine cryptocurrencies in a green and ethical way? If so, what role will the Internet of Things play in this shift?

Can the Internet of Things be mined?

People started discussing using the Internet of Things for cryptocurrency mining a few years ago Mining, these discussions have mostly come in the form of warnings that bad actors could compromise an IoT device and turn it into a distributed cryptocurrency mining network.

Cryptocurrency mining requires powerful central processing units and consumes a lot of energy. Can IoT devices be used to mine cryptocurrency?

Mirai is a household name in the cybersecurity world, but the term is often synonymous with DDoS attacks. IBM's investigation in 2017 found that subsequent Mirai cyberattacks were designed to deploy Bitcoin miner slaves on compromised IoT devices. IBM didn't draw specific conclusions about the effectiveness of leveraging IoT devices, but the concept is intriguing.

Are there other ways IoT, cryptocurrencies, and blockchain can impact each other’s performance?

Impact of IoT on Cryptocurrency Mining

In Not long after IBM's discovery came out, Avast came to a similar conclusion: This kind of use of the Internet of Things was not only possible, but profitable. Avast estimates that an attacker could mine approximately $1,000 worth of cryptocurrency in four days using 15,000 IoT gadgets simultaneously.

Using thousands of cryptocurrency mining rigs can reduce the overall power consumption and environmental impact of a single cryptocurrency mining operation. There’s an anecdote about a tech blogger who set up and forgot her IoT devices, only to find them generating thousands of dollars worth of tokens in the background for over a year.

Use routers and hotspots as network hubs andThe future of cryptocurrency mining centers is bright because it is about efficiency and greenness. After this person wrote about her experience, orders for related hotspot devices rose to 150,000 units. Compared to expensive CPUs and GPUs, the $400 price tag of this hotspot device is attractive to amateur miners who don’t want to spend a lot of money on cooling systems and graphics cards.

Technologies that make mining more environmentally friendly

Making cryptocurrency mining more environmentally friendly is not an easy task. A single Bitcoin transaction consumes approximately 1,544 kilowatt hours of electricity, which is enough electricity to power an average American household for more than fifty days. The total annual electricity consumption of the Bitcoin network may be as high as 75 terawatt hours.

Smarter climate control technology is one solution. Mining operations can have more granular control over their environment with ductless and mini-split systems. It is much easier to place these units exactly where they are needed, and one outdoor condenser can power multiple cooling units. These devices can save cryptocurrency miners a lot of energy.

As it stands, electricity is a major bottleneck restricting cryptocurrency mining. National and international leaders have prioritized building resilient smart grids in setting goals that rely on the Internet of Things to enable the two-way flow of power and data.

Building energy networks that use renewables and the Internet of Things to be more resilient and performant opens up opportunities for cryptocurrency miners. Some of the larger operations are opening factories in areas rich in solar and wind energy. Other miners work at night to offset the huge impact their operations have on energy consumption during peak electricity usage hours.

Take a mining operation in Texas, for example, that can profit from energy consumption by shutting down for just 30 minutes at a time during its hottest and most expensive days. At night, they can "operate as little as the board can handle" while selling back the contracted power supply to the utility company.

Blockchain and the Internet of Things: A fruitful combination

The Internet of Things and cryptocurrencies have found the right way to complement each other and complement each other. The combination of IoT and blockchain may bring fruitful results, and research and discussions around this topic are proceeding in different ways.

IoT devices rely on high-speed exchange and analysis of field data. Applying blockchain here ensures greater reliability of the system and greater security of data transmission. Autonomy is critical for business efficiency: with blockchain driving IoT interactions, devices can interact directly with each other without involving remote servers.

The technologies used in IoT and cryptocurrency respectively complement each other and bring out the best in each other.

National Energy Information Platform contact number: 010-65367702, email: [email protected], address: BeijingPeople's Daily, No. 2 Jintai West Road, Chaoyang District