Hyperledger Fabric Solutions and IOTA being Distributed Ledger Technologies will form the basis of IoT. Develop Hyperledger and IOTA Apps for Enterprises.
The most interesting facet of blockchain is its effective implementation in futuristic technologies like AI (Artificial Intelligence) and IoT (Internet of Things). Hyperledger Fabric are emerging as standard DLT implementations in public as well as enterprise blockchain adoptions. Meanwhile, IOTA, being the designated DLT for IoT is transforming as the Blockchain avatar for the new connected ecosystem.
The radical adoption of Blockchain made it the most aggressively emergent technology in the current tech landscape. Data Supremacy and Big Data will become bygones with the pragmatic approach of blockchain technologies. Per experts, Big Data is now more about the Velocity of processing rather than the two other Vs of Variety and Volume. This is due to the emergence of Blockchain, which will render Centralization of data as an obsolete idea in near future. Blockchain structures data at its origin, making users the authority of their own data.
Internet of Things is emerging as a massive system as a source of Big Data, with innumerable nodes and exponentially increasing transaction records. While the networks of connected devices are beginning to grow, it is set to create another massive volume and variety of data. In this data conundrum, Distributed Led are emerging as standard DLT implementations in public as well as enterprise blocger Technology again emerged as an effective solution. IOTA, the unique DLT for IoT is transforming the Data landscape of IoT making them distributed across the network. A Reddit user correctly defined it with an analogy of loading a luggage in an empty train. The luggage is always on the train, but it can be opened and seen in every station. Similarly, as a device is connected to the IOTA network, transaction data is stored in Tangle and it is verified in each subsequent transaction.
Read: Security Prospects of IOTA.
While IOTA is the DLT for smart devices, Hyperledger Fabric Solutions are the Distributed Ledgers with an efficient model of implementation. The modular structure of Hyperledger based applications features Plug and Play, which enables its easy integration and disintegration with large applications. Hyperledger based applications have a modular structure, and it is efficient for the development of massive blockchain architectures. The technology automates the consensus process by leveraging Practical Byzantine Fault Tolerance(PBFT) protocols. The central mechanism of this consensus algorithm is the verification of a certain number of transactions. The functioning does not require large computation power and validation time.
Read: Hyperledger Introduces Global Cryptography Module.
IOTA applications and Hyperledger Fabric solutions follow different models of operations but based on DLTs, they have the scope to work in tandem. IBM developed a hyperledger based solution for IoT application and Fujitsu is working on both of the technologies. A combined use case of both IOTA and Hyperledger Fabric is not yet materialized. Both of these are understood to fit in their own diversified use cases. But an application based on both IOTA and Hyperledger Fabric can develop highly efficient solutions for permissioned IoT devices. While IOTA is a public platform for micro-transactions between smart devices, Hyperledger Fabric can create automated and permissioned blockchain applications for device-based networks.
Technically, IOTA and Hyperledger Fabric Solutions have a massive grey area when mulling their prospects together in a combined blockchain based IoT system. Such an application is yet to emerge, but there is a strong possibility of Hyperledger applications in massive IoT infrastructures. In such solutions, IOTA can handle the micro-transactions between connected devices, while Hyperledger Fabric will facilitate the integration of large infrastructures. Massive IoT ecosystems are imminent and integrated Distributed Ledger Technology will encompass the internet landscape. Against this backdrop, IOTA and Hyperledger will both emerge as efficient DLTs. The objective is not to compliment the technologies but to combine them.
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