VGU RESEARCH REPOSITORY
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https://epub.vgu.edu.vn/handle/dlibvgu/969| Title: | Considering blockchain for machine-to-machine Internet of things applications with microtransactions and data communication | Authors: | Huy Dinh Cong | Keywords: | Blockchain-based;Machine-to-machine;Internet of things applications;Microtransactions;Data communication | Issue Date: | 2019 | Publisher: | Vietnamese German university | Abstract: | Machine-to-machine payment system is potentially a game-changer in the upcoming age of the Internet of Things. Due to the decentralized characteristic of IoT, a payment system with a similar nature should be utilized. One of the technologies that can be used to build such a system is blockchain. However, a traditional blockchain like Bitcoin inherently suffers from scalability issues, high energy consumption and high transaction fees might not be compatible with IoT. Recent distributed ledger technology such as Iota aims to fix these issues and promises not only a micro-payment system for an M2M economy but also a data settlement and communication layer. In this paper, the concept of traditional blockchain, notably Bitcoin, along with its advantages and disadvantages is revisited. The concepts of newer blockchain technology, specifically Iota and the Tangle are introduced. This paper also proposes two applications that Iota can be utilized, notably as a peer-to-peer micro-payment mechanism, and as a communication mechanism. The resulting applications show that Iota can achieve superior transaction speed, as well as to provide a good message broker via the Tangle. Iota is also shown to play nicely with existing communication protocols - MQTT and WebRTC. However, due to it being a quite nascent technology, Iota still relies on a centralized feature which is the Coordinators. Overall Iota shows great promise, and with its plan to remove the centralized Coordinator in a very nearby future, Iota is worth considering for M2M/IoT applications with communication and micro-transaction |
URI(1): | http://epub.vgu.edu.vn/handle/dlibvgu/969 | Rights: | Attribution-NonCommercial 4.0 International |
| Appears in Collections: | Computer Science (CS) |
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