Internet of Things is the prevailing technology that can streamline blockchain technology, enhancing its processing aspects. The interesting fact about the IoT industry is the total number of IoT devices connected to the internet is more than the total global population. As blockchain technology keeps records, automates tasks, and manages digital elements, IoT devices gather data and h in research, making the data available for the blockchain network.
However, adding blockchain technology with IoT is an act of sheer research and development; emerging startups are coming up with great IoT-backed blockchain technology.
In this blog, we’ll know about 20 startups that are providing IoT-backed blockchain systems. We’ll also explore how their developments are used in the blockchain sector.
Helium is a decentralized machine network. The company uses blockchain to connect low-power IoT machines (like routers and microchips) to the Internet. Helium’s blockchain-based wireless internet infrastructure uses radio technology to strengthen internet connection and drastically reduce the power needed to run “smart” machines.
Chronicled‘s first industry revenue management solution, Contracts & Chargebacks, automatically settles chargeback claims between pharmaceutical manufacturers, distributors, and group purchasing organizations to ensure drug pricing accuracy for healthcare providers, pharmacies, and other dispensers.
Moeco’s visibility solutions improve global supply chain operations through actionable data insights into the location and shipment conditions. Moeco’s solutions enable vast cost reductions by automating insights and alerts to reduce manual tracking efforts, allowing operators to focus on more important and inspiring tasks.
4. FOAM Inc.
FOAM is a geospatial protocol for Ethereum smart contracts. The platform tokenizes geospatial data using the Ethereum blockchain. Uses an autonomous network of radio beacons to offer location services. The platform can be used to track the location of IoT devices. At FOAM, They are committed to building spatial protocols, standards, and applications that bring geospatial data to blockchains and can empower a consensus-driven map of the world.
HYPR fixes the way the world logs in by breaking the tradeoff between strong security and consumer-grade user experiences. Their approach shifts the economics of attack and risk in the enterprises’ favor by replacing password-based MFA with Passwordless MFA.
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With HYPR, customers provide users with a consumer-grade experience while finally enabling cross-platform desktop MFA, stopping phishing, and virtually eliminating fraud associated with weak or stolen passwords.
6. Xage Security
Xage is the first and only zero-trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises and governments secure, manage and transform digital operations across OT, IT, and the cloud. Xage solutions include Identity & Access Management for on-site security, zero trust remote access, and data protection, all powered by the Xage Fabric.
GridPlus creates products that enable the mainstream use of digital assets and cryptocurrencies. We are hardware, software, and cryptocurrency experts building the foundation for a more efficient and inclusive financial future. The GridPlus Lattice1 and SafeCards use uncompromising security to enable the most secure cryptocurrency storage ever created. GridPlus products form a new, fully integrated infrastructure stack for the burgeoning world of cryptocurrencies.
Atonomi – The Secure Ledger of Things, Enabling Secure, Blockchain-based Cryptosecurity for IoT Transactions. The Atonomi Network is a blockchain-based security solution to protect the Internet of Things and enable secure device-to-device autonomous transactions. The Atonomi Security Protocol validates device identity, tracks device reputation, and provides immutable blockchain ledgering of all transactions.
Riddle&Code is a product-led services company specializing in onboarding industries to Web3. The company is the main driver for a world of interconnected token economies by enabling sustainable, green, and resilient machine industries. Riddle&Code offers various solutions to tailor industry-specific hardware wallets and an application suite to build on decentralized blockchains, mainly contributing to the RDDL Network blockchain protocol.
IOTA Foundation is a non-profit organization and creator of the Tangle, a permissionless, multi-dimensional distributed ledger, designed as a foundation of a global protocol for all things connected. IOTA is basically a protocol to ensure faster transaction settlement with the value of data integrity. It is one of the interesting blockchain IoT projects, which features a Tangle ledger for reducing the need for expensive mining.
WoTT is building the infrastructure for tomorrow’s connected devices. WoTT is developing protocols and open-source software to decentralize identification and authentication – delivering the security needed to safely step into the future. Vehicle-to-vehicle communication, smart factories, and telemedicine are only the beginning of the applications that will be available when connectivity stretches into new devices. In an interoperable future, where any device can ‘talk’ to any other, trust is a requirement.
DiscoveryIoT is a Blockless DAG IoT Network powered by Edge Computing, Artificial Intelligence, Ubiquitous Computing & Backscatter Communication that is run through a network of Distributed Applications, residing on the mobile phones of a community of users. In other words, it is a crowd-sourced network powered through mobile phones that form the nodes of the blockchain network. The Discovery network has the capability to handle more than 1 million transactions per second. Since it is built on a minerless infrastructure, it has near zero transaction costs.
UBIRCH is a digital data-proof solution that brings security into data-driven processes and establishes trust between multiple stakeholders. It’s one cloud-based Proof Machine that enables everyone involved to verify the authenticity and integrity of data received. Founded and managed by experienced specialists in cryptography, blockchain, and data-driven business models, UBIRCH is combining robust cryptography and modern blockchain technology into an innovative, easy-to-use SaaS product
Taraxa is working to use scalable concurrent contracts, trustless light nodes, and encrypted data markets on top of block-lattice to help secure and decentralize IoT data. Their aim is to help connected device providers achieve node-level concurrency by speculative parallelization of smart contract calls.
BiiLabs aims to build up a world trusted by DLT-based infrastructure of the Machine Economy for tomorrow’s IoT world. Therefore, BiiLabs is dedicated to developing distributed ledger technologies (DLTs) to connect the digital world to our human world by making Internet & IoT devices trustable, enabling everyone to make transactions at will.
IOTW is building a secure IoT ecosystem that enables instant transactions, and green micro mining from any connected device without any extra hardware and at no additional cost. Part of their mission is to use the concept of micro-mining in smart devices to reduce the overall energy impact of the crypto mining industry.
17. Next Big Thing AG
Next Big Thing AG (NBT) is a Berlin-based startup incubator for the Internet of Things and Services (IoT/IoS) and blockchain. They are an operational VC, and their hope is to accelerate the development of blockchain and IoT solutions to help advance the use of connected devices everywhere.
Ockam has a simple developer experience and powerful primitives that orchestrate end-to-end encryption, key management, authorization policy enforcement, and mutual authentication. Modern applications are distributed, interconnected, and have Zero-Trust in network boundaries. These applications must exchange data with Trust. Ockam empowers developers to build applications that can Trust Data-in-Motion across complex, variable, and hostile networks.
IoTeX is the leading decentralized network powering the future of web3 and machine economy (MachineFi). The platform is built for developers to connect billions of machines with web3 infrastructure, to create innovative products including Defi, NFT, DAO, Metaverse, and MachineFi applications. They are using their blockchain to provide a currency for connected device transactions in the hopes of creating a decentralized autonomous organization model for IoT.
SmartMesh is a blockchain-based underlying protocol built for the Internet of Things. SmartMesh has built-in blockchain light nodes and extends the Raiden and Lightning Networks’ second layer architecture network protocols, allowing internet-free digital payments and transactions.
Utilizing blockchain-based token incentives, SmartMesh technology allows the formation of agile, decentralized Mesh Networks that can self-repair and have higher near-field speeds and bandwidth than standard internet connections.
Through these emerging startups and their IoT-backed blockchain innovation, the future of blockchain technology is surely secured and brighter. New players are regularly enhancing the efficiency with their developments; it’s affirmative that with increasing blockchain usability rate, IoT-backed blockchain will be popular and successful in getting more admirers under their umbrella.