Connecting to a Blockchain: A Primer
You probably already know, or at least have an inkling of, the revolutionary ways a blockchain can change how we function economically, legally, and socially. By connecting devices to a blockchain – from smartphones and computers to internet-enabled cars, apartment smart locks, and security systems – we can facilitate a sharing economy for the internet of things. This makes possible not just peer-to-peer transactions but even machine-to-machine payments for services, from tollbooth payments to 3D printing access. Best of all, because these interactions are on a blockchain, they won’t rely on financial intermediaries or be subject to the security risks inherent in centralized data storage.
The problem is that it’s not necessarily easy to get devices, IoT or otherwise, to interact with a blockchain. For one thing, users who aren’t running a full node are likely operating on one of the available remote services that can connect them to a blockchain. While these services make it easy to start transacting on a blockchain, there’s no guarantee for security. Moreover, overreliance on any one service risks creating a central point of failure. On the other hand, running a node on a connected device requires extra processing power, space to download the information contained within the blockchain, and time to sync it all.
In June 2019, Blockchains acquired German blockchain technology company, slock.it. With the acquisition, the development of Blockchains’ planned projects fast-forward significantly, thanks to slock.it’s expert developer team and an award-winning product that provides blockchain connectivity for any internet-enabled device.
The Incubed client, which connects to a trustless, incentivized remote node network, securely connects devices to a blockchain. Whereas a remote client will connect you to just one server, Incubed’s network of remote nodes connect your device to multiple nodes that have made a cash deposit they’ll lose if incorrect information is relayed from them to your device. Every time nodes send information, it’s verified by a separate series of nodes acting as “watchdogs” that can claim the cash deposit if they find that a node has sent incorrect information.
In addition to being trustless, the Incubed client is also stateless. This means your device needs neither to store data from the blockchain – freeing up precious space – nor to sync to the blockchain – making the link between device and blockchain quick and easy. The stateless feature also makes the Incubed client compatible with not just the Ethereum mainnet, but with any blockchain network running the Ethereum Virtual Machine.
Incubed solves the problem of efficiently connecting a device to the blockchain and adds the necessary features to totally change machine-to-machine, human-to-machine, and machine-to-human interactions. You’re able to easily gain access to a secure and decentralized blockchain, while maintaining the interoperability of devices and services, capitalizing on blockchain technology without losing any of the familiarity you’ve already formed with your device.
Learn more by visiting slock.it.