Distributed Ledgers and IoT
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The document discusses the potential use of distributed ledgers and blockchain technologies for IoT applications. It describes different types of distributed ledgers like blockchains and directed acyclic graphs. It also covers different consensus mechanisms and platforms like Ethereum, Multichain, and IOTA. The document analyzes these platforms based on requirements like transaction scalability, adaptability to diverse devices, and data handling interfaces. It discusses concepts like sidechains and state channels that can help address requirements. Finally, it provides overviews of Ethereum, Multichain, and IOTA for IoT with analyses of their capabilities and challenges.
Distributed Ledgers and IoT
- 2. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 2 Blockchainsand DLTs – Why? KeyAttractions Tamper-proof Append-onlystorage Decentralized Suitable Applications Heterogeneous Stakeholders Large Deploymentswith Autonomous Components
- 3. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 3 Blockchainsand DLTs – What? Blockchains DirectedAcyclic Graphs(DAG) based DLTs DistributedLedger DecentralizedNetwork Consensus Mechanisms Proof-of-Work Proof-of-Stake ByzantineFaultTolerance(BFT) Platforms Bitcoin Ethereum Multichain Ripple Consensus Mechanisms Tangle Hashgraph Platforms IOTA Hedera
- 4. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 4 Decision Points Platform Requirements Transaction Scalability Adaptabilityfor Diverse Device Platforms DataHandling Interface Solution Requirements DataRequirements Stakeholder Network Architecture TrustInterfaces
- 5. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 5 Platform Overview Ethereum a) Elaborate smart contract support b) Public and private deployment alternatives c) Multiple nodeconfigurations1 Multichain a) First private Blockchain Platform b) Easy to use API abstraction c) Good data handlingsupport2 d) No support for smart contracts2 IOTA3 a) DLT Platform usingDAG based consensus, Tangle b) Uses analternative hashingmechanism based on trytes c) No miningfees d) Sensor Data Market e) Smart Contract support pending 1. https://www.rinkeby.io/#geth 2.https://www.multichain.com/blog/2016/09/introducing-multichain-streams/ 3.https://www.iota.org/
- 6. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 6 Emerging Concepts to Address Requirements Sidechains2 a) Application specific blockchains runningparallel to the primaryblockchain b) Exchange assets with the primarychain through two-way pegs Main Blockchain Sidechain1 Sidechain3 Sidechain2 StateChannels1 a) Move some transactions off-chain to reduce impact of transaction times b) Canbe usedto achieveboth scalability and data privacy A->B Initiate Transaction A B A->B Finalize & Commit Transaction State Channel Data Exchange 1. http://www.jeffcoleman.ca/state-channels/ 2. https://hackernoon.com/what-are-sidechains-1c45ea2daf3
- 7. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 7 Decision Points Platform Requirements Transaction Scalability Adaptabilityfor Diverse Device Platforms DataHandling Interface Solution Requirements DataRequirements Stakeholder Network Architecture TrustInterfaces
- 8. THANK YOU
- 9. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 9 Ethereum for IoT Light Node a) Implements Ethereum Light Client Protocol b) Downloads only block headers for verification c) Performs on-demandretrievals from remotenodes d) Relatively low-end devices with RAM>= 512MB e) “Embedded Node” Configuration for RAM >= 128MB Challenges a) No specific adaptations for transactions with real-time requirements b) Stream data handlingnot straightforward c) No specific data access control Sources: 1. https://www.rinkeby.io/#geth 2. https://github.com/ethereum/wiki/wiki/Light-client-protocol
- 10. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 10 Multichain DataStreams a) Data streams with publish-subscribe semantics b) Flexible access control to individual streams Challenges a) Does not support smart contracts, as they are considered to bepart of application b) No specific adaptations for real-time requirements Sources: 1. https://www.multichain.com/developers/data-streams/ 2. https://www.multichain.com/blog/2016/09/introducing-multichain-streams/
- 11. Distributed Ledgers and IoT RBEI/ETM| 2018-04-16 © RobertBoschEngineeringandBusinessSolutions PrivateLimited2018.All rightsreserved,alsoregardinganydisposal,exploitation,reproduction,editing,distribution,aswell asinthe eventof applicationsforindustrialpropertyrights. 11 IOTA Scalability a) Lightweight transaction approval b) No mining fees c) Monetization through publish-subscribe of sensor data streams d) Adaptation to low-end devices similar to Ethereum Light Protocol Challenges a) Transaction commit times not deterministic for public network b) Suspected securityvulnerabilities of the Curlhashing mechanism c) Specific adaptations for access control not clear Sources: 1. https://www.iota.org/research/meet-the-tangle 2. https://www.media.mit.edu/posts/iota-response/