🚀 The Oasis Foundation has announced funding for the Blockchain of Things (BoT) project, an IoT data marketplace platform focused on security and privacy. With support from Sapphire, BoT aims to build a sustainable, transparent, and scalable infrastructure for Web3 and IoT applications.

How Does BoT Work?

BoT uses Sapphire, an advanced encryption solution from the Oasis network, to provide a superior security environment for IoT data. Here's how it works:

  1. End-to-end Encryption: IoT data is encrypted at the source device and only decrypted when the authorized buyer accesses it. This helps protect information from leaks and unauthorized access.

  2. Onchain Management: Smart contracts on Sapphire enable access permissions to be set based on a subscription model, ensuring each transaction is transparent and recorded on the blockchain.

  3. Transparent evaluation mechanism: The system provides tools that allow customers to preview data and evaluate quality before making a transaction.

  4. IoT device integration: Easy integration with commercial IoT devices or custom-designed sensors, providing flexibility for users.

The Emerging Technology Behind Blockchain of Things (BoT)

BoT leverages cutting-edge technology from Oasis and Sapphire to address major challenges in securing IoT data:

1. Sapphire: The Security Core of BoT

  • Sapphire is a Paratime on the Oasis Network, designed to support dApps that require high security and performance.

  • Sapphire's Runtime Encryption feature ensures that any data processed offchain is completely secure but can still be verified onchain. This is especially useful when processing massive amounts of IoT data.

2. Runtime OFf-chain Logic

  • BoT uses offchain logic to offload complex tasks, such as processing cryptographic algorithms or analyzing IoT data, improving performance while maintaining security.

  • Easy verification on the blockchain ensures that offchain data is not modified.

3. Decentralization and Security in IoT

  • BoT applies the Defense-in-Depth model with a combination of hardware encryption, software encryption, and multi-layered security protocols.

  • Sensitive data from IoT sensors is protected from attack risks such as data tampering, information leakage, and unauthorized access.

Application of BoT Technology in Practice

1. Monetize IoT Data Securely

With BoT, IoT device providers can monetize data while ensuring absolute security. For example:

  • Environmental data: Weather sensors can provide real-time data for climate analysis or forecasting applications.

  • Health data: Smartwatches or medical devices can provide health information to research organizations without violating privacy.

2. Transparent IoT Data Market

BoT enables customers to purchase IoT data from a secure and transparent platform. With a pre-transaction data review and demo system, users can ensure data quality before making a payment.

3. Developing Decentralized IoT dApps

BoT helps Web3 developers create decentralized IoT applications with high security requirements. For example:

  • Supply Chain tracking application with supplier information security capabilities.

  • Smart energy management solutions where data from energy sensors is securely shared with the supplier.

The Future of Technology With Blockchain of Things

  1. IoT Connected to Blockchain: BoT acts as an important bridge between IoT and the Web3 ecosystem. This not only opens up new opportunities for IoT data but also lays the foundation for other decentralized applications.

  2. Secure Data Development: Personal and industrial data are protected in an encrypted environment, expanding application possibilities in the medical, environmental, and industrial fields.

  3. Support From Oasis Network: With technical support from one of the pioneering blockchain platforms, BoT is expected to become a mainstay in secure data management.

Conclusion: BoT Is A Huge Step Forward In IoT Security

By applying cutting-edge technologies from Sapphire, BoT not only ensures privacy but also expands development opportunities in IoT and Web3. This project is suitable for both Web3 developers who want to create decentralized solutions and crypto investors who are looking for projects with great growth potential.

💬 Are you ready to explore BoT? Leave your comments or questions below! 🚀

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