Blockchain For Reinventing Cloud
By Sandeep Kasalkar
BlockCloud is the name given to a novel blockchain-enabled TCP/IP architecture that blends blockchain with SCN to power IoT applications. It is not limited to otherwise cumbersome systems, but instead functions as a highly mobile, layered solution that does not suffer from the same scaling concerns as other blockchain choices. Although Block-Cloud will face stiff competition from comparable and centralised systems, the benefits it provides will give it a fighting chance of penetrating the burgeoning IoT industry.
The market opportunities
As new technologies such as driverless cars, augmented reality, and smart healthcare permeate our daily lives, the society we live in will become increasingly device-oriented. A streamlined and networked future does have its drawbacks, most notably a poorly constructed IoT infrastructure.
Several sceptred systems are attempting to address these fundamental concerns, but BlockCloud is attempting to address them more comprehensively by promoting mobility, security, scalability, and trust while allowing for a fair division of revenues among market players.
In the case of Block-Cloud, blockchain will be in charge of the apps layer, while SCN technology will be used to build the underlying infrastructure. This creates a danger since the BlockCloud team is attempting to integrate two previously disparate technologies into a full, unified solution.
There are five major components.
- A layer for integrating blockchains
- Using the service access layer for communication
- Proof-of-service is used to validate services.
- Transaction logging using the CoDAG or Compacted Directed Acyclic Graph technique
- Honest (ongoing) double bidding is used as the price method.
Block-Cloud, which is focusing on a novel PoS (Proof of Service) consensus, is attempting to resolve blockchain transactions merely by having the required devices communicate information between themselves. This will allow for a clean verification environment, with bad actors fined and barred from utilising the network.
BlockCloud seeks to propose a few fresh ideas as a multi-layered solution:
- Edge computing – which improves the present levels of communication between various computing devices
- Internet of Vehicles – a smart vehicle communication solution
- Smart Home – Future smart houses’ functionality will be powered by blockchain.
- Smart Health – IoT-based solution for better delivery of different health-related services
- Sharing Economy – a Block-Cloud-powered decentralised, trustless ecosystem
BlockCloud technology incorporates the pricing mechanism to establish a market for both service providers and service users. Due to the fact that more businesses will want to offer their services and have access to all of this new data, the market will play a significant role. There is a lot of potential and future benefit in fixing the infrastructure’s fundamental problems and then adding new application layers on top.
It can be utilised by nearly everyone without costing money for a specialised hardware infrastructure because it is a cloud-based blockchain solution. The BlockCloud whitepaper goes into great detail about all the positive potential that this technology presents, including the development of next-generation IoT computing by better integrating it with blockchain.
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