Blockchain, the technology that made Bitcoin possible, has been getting a lot of attention in the IoT world, often because of its role in security. However, experts and practitioners said the potential of blockchain for IoT is deeper and broader than just keeping the bad guys out.
Ian Hughes, analyst of IoT at 451 Research, sees a role for blockchain that goes deeper, enabling authentication of devices — especially when they are connected infrequently, as the case might be with, say, agricultural systems that may shut down for large parts of the year. Having a blockchain distributed ledger can provide a tidy way to account for and recognize the return of long-lost network participants as trusted members.
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