At the philosophical level, IoTeX is tackling this problem by introducing a token economy into IoT spaces. We strongly believe that token incentives combined with community effort are the two key forces that will propel innovations in IoT space. Decentralization by design, like blockchain, is a natural fit for IoT applications:
- Blockchain is elastic enough to solve the scalability challenges of IoT in a cost-effective manner;
- Retaining data within well-scoped blockchains eliminates the concerns cloud-stored data will be potentially leaked or abused;
- Blockchain with the smart contract has huge potential to enable the autonomous coordination of devices to create functional values.
Please see the articles below we have prepared in order to learn more about the intersection of blockchain & IoT: