The hot and dying blockchain + Internet of Things is resurrected again.What's different this time?

On April 8, the Coinbase blog announced that it will list four new projects, including 1inch, enj, nkn and ogn. Among them, NKN has the most outstanding performance. According to coinmarketcap data, as of 5:00 pm on April 9, the price of NKN has risen by 43% in the past 24 hours, and by 545% in the past week.

NKN is a project of a Chinese team. The founder is Li Yanbo, the co-founder of the original Onchain (NEO). It was launched on the NEO network in 2018 and later migrated to the Ethereum network. At that time, NEO and ONT had a huge rise, and users had high expectations for NKN. However, it coincided with the bear market, which caused nkn to break as high as 80% at one point, which attracted a lot of criticism from the community. Now that I am on Coinbase, I have finally proved its value to a certain extent.

NKN focuses on the concept of the Internet of Things. Since the beginning of this year, the entire Internet of Things sector has performed well. Another project from the Chinese team, VeChain, has entered the top 20 cryptocurrency market capitalization, and the main focus is on low-power wireless networks suitable for the Internet of Things. The market value of Helium (HNT) has also entered the top 100 (currently the Internet of Things concept cryptocurrencies in the top 100 cryptocurrency market value are Vechain ranked 20, IOTA ranked 25 and Helium ranked 83, and NKN's current ranking has risen to 115) .

Yang Haipo: The essence of the popularity of liquidity mining lies in the resonance effect formed by the primary and secondary markets: On the morning of September 7, Yang Haipo, CEO of ViaBTC mining pool, posted on Weibo that the essence of the popularity of liquidity mining comes from the primary market. The resonance effect formed by arbitrage and the secondary market's superstitious belief in lock-up data. [2020/9/7]

Due to the relatively basic application of NKN, the implementation of Helium is more optimistic and has received investment from Google. Although the IoT based on Bluetooth and WiFi is deeply rooted in China, there are a wide variety of low-power transmission devices in Europe, and the IoT has many opportunities in some segmented tracks, such as Helium's flagship Lora. In the future, the listing of NKN on Coinbase also means that several other high-quality IoT concepts may be listed on Coinbase.

The Internet of Things and blockchain technology naturally match

For the application of blockchain technology, in addition to using cryptocurrencies for value storage or speculation, the biggest landing may be in the Internet of Things. After all, if BTC can redefine value storage tools and DeFi can redefine investment methods, Transactions between things in the Internet of Things can also be redefined through the blockchain.

AMD's quarterly report is bright GPU is hot with the block chain: American semiconductor company AMD's quarterly financial report is very eye-catching, and the focus of the industry has shifted from chip sales to the identity of the block chain technology provider. The scope of application of blockchain is not limited to virtual currency, and it is expected to explode at any time. Most of the virtual currencies issued and circulated on the market require "mining", that is, virtual currency miners use extremely fast GPUs to solve complex mathematical problems in the blockchain, and then obtain new digital currencies as rewards. As suppliers, the rise in GPU prices is bound to bring huge benefits to AMD and Nvidia. Analysts expect GPU sales to grow further as more and more companies around the world plan to enter the bitcoin market or the blockchain. [2018/2/2]

The Internet of Things market is also huge. According to a [report](1) released by McKinsey in June 2015, by 2025, the total economic volume related to the Internet of Things will reach 11.1 trillion U.S. dollars, and the market value of cryptocurrencies is This year it has just exceeded 2 trillion US dollars. It can be seen that there is a huge space for the development of blockchain projects based on the concept of the Internet of Things.

Hot blockchain private equity institutions are entering the market: Recently, the hot private equity of blockchain projects has once again attracted the attention of many investors. It means that those who join the group can get private placement quotas that cannot be obtained in the market. At the same time, Guo Hongcai said on Weibo that some institutions are entering the venue. Netizens believe that this is a fancy way of cutting leeks, but some people think that this may mean that large funds will enter the venue. ​[2018/1/2]

Taking Helium as an example, it connects low-power routers and chips through blockchain technology, provides a decentralized wireless network all over the world, and provides the underlying network support for global IoT devices. According to its [Map](2), Helium currently has more than 20,000 nodes around the world. Even in China, many people are “mining” by providing Helium hotspots. This mode of IoT mining also makes the community's ideal of decentralized distribution for mining a reality.

BITCOIN FUTURES REACT FLAME AFTER LAUNCH There are still plenty of investors struggling to get into the market: Futures for the world's most popular cryptocurrency jumped 26% in their first session on the CBOE, triggering two trading halts aimed at calming the market. Garrett See, CEO of DV Chain, said that some people who want to trade bitcoin futures have difficulty entering the market because not all managers are initially supportive of it. [2017/12/12]

Challenges of IoT Blockchain

Although the concept of the Internet of Things is not new, after all, the blockchain is still a new thing, so the blockchain project of the Internet of Things concept is also facing huge challenges, mainly in several aspects.

1. Stability

When the blockchain is applied to real life, the requirements for stability will be very high. Imagine applying the blockchain of the Internet of Things concept to smart cities. If there is a problem with the blockchain, it will inevitably affect the lives of countless people. . IOTA, an old blockchain project with the concept of the Internet of Things, once faced such a problem. In February last year, IOTA’s mainnet [suspended](3) worked for 11 days. Such reliability obviously cannot be applied to the real world. in life.

Security

The Internet of Things involves massive data transmission, and the data is often related to people's daily life, and if a data leak occurs, it will inevitably have a serious impact. At the same time, the decentralized nature of the blockchain has also brought difficulties to supervision. For example, when an accident occurs due to the blockchain concept of the Internet of Things and causes losses, how to be held accountable becomes a problem that the regulatory authorities need to consider.

3. Scalability

In an era when every chip or sensor is an IoT device, the scalability of the IoT blockchain is bound to be very important. In an idealized conception, solar power panels can sell excess electricity, and users in need (such as bitcoin miners) can automatically buy excess electricity and complete settlement automatically without human intervention. For such massive amounts of data and small amounts of money, the scalability of the blockchain concept of the Internet of Things is very important.

Four. Competitiveness

In all fairness, almost none of the current blockchain projects combined with real-world applications has succeeded, largely because the team's focus is often on the token issuance and financial side, and the current Helium also has some such tendencies. Investors and public opinion pay more attention to the design of its financial model, but pay less attention to whether its application layer is competitive.

In 2017, the Internet of Things blockchain led by IOTA was once hot, but it died down with the arrival of the bear market. With the development of Internet of Things technology, the demand for blockchain is bound to increase day by day, and it may become another hot spot in the future.

Wu Shuo Author | Tan Shu

:https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/the-internet-of-things-the-value-of-digitizing-the-physical-world#

: https://explorer.helium.com/coverage

: https://news.bitcoin.com/iota-down-11-days/

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