Since the inception of the
world’s first decentralized peer-to-peer cryptocurrency i.e. Bitcoin, Block
chain technology, which serves as the backbone of this revolutionary idea, has
been scaled up to cater to various digital businesses worldwide; especially
businesses related to the Internet of Things (IoT) Industry. With the recent
boom in the value of bitcoin, many software experts and businesses are
beginning to realize the potential of the technology behind it and how it may
be improved to survive the influx of quantum computing in the future.
Simultaneously, Internet of Things rises noteworthy challenges that could be an obstacle of comprehending its probable profits. Attention captivating headlines about the hacking of Internet linked devices, investigation fears, and confidentiality suspicions by this time have apprehended community's attention. Technical encounters remain and innovative policy, legitimate and development challenges are emerging.
The phrase Internet of Things commonly refers to the situations where network connectivity and computing ability brings objects into its scope as well. Devices and everyday objects that are usually not considered computers, as it permits these devices to create, interchange and consume data with negligible human involvement. However, there is no universal definition of Internet of Things.
One such company, which aims to evolve the current dynamics of block chain to assimilate it in the IOT industry, is Exxor. The philosophy behind Exxor and the world’s first cryptocurrency, Bitcoin, is relatively the same, with the difference being that Exxor aims to make online machine-to-machine (M2M) digital transactions more secure in the long run, as compared to peer-to-peer interactions in the latter.