IoT Blockchain Node for Direct Peer Transactions
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Solution Overview
Problem
Current IoT devices, including smartwatches, cannot conduct blockchain transactions without a smartphone, even with sophisticated APIs, due to the need for smartphone connectivity or range/power issues.
Innovation Solution
A system and method that enables IoT devices to directly interact with blockchain peers through a data bus, using processors and memory to receive, reformatted, and send blockchain queries and responses, facilitating transactions without a smartphone, employing components like security, channel management, message formatting, and event management to ensure proper data communication and security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If IoT devices use smartphone connectivity to access blockchain, then transaction capability is enabled, but device independence and accessibility are reduced
Solution Approach 1:
The patent introduces a blockchain node as an intermediary component that runs directly on the IoT device. This node acts as a mediator between the IoT device and the blockchain network, enabling direct communication and transaction capability without requiring smartphone connectivity. The node manages blockchain protocols, peer connections, and transaction broadcasting locally on the IoT device.
2Device complexity
If IoT devices have limited processing power, then device complexity is reduced, but ability to handle blockchain transactions is worsened
Solution Approach 1:
The patent segments the blockchain functionality into modular components that can be selectively implemented on IoT devices with limited processing power. The blockchain node includes separate modules for peer-to-peer communication, transaction validation, and blockchain protocol handling, allowing IoT devices to participate in blockchain transactions with minimal resource requirements while maintaining transaction reliability.
Data Source
AI summary
A system and method for facilitation transactions between an Internet of Things (IoT) system and a blockchain peer without the use of a smart phone are disclosed. The system may have security, a channel manager, a message formatter, parameter enumerator and formatter, a final formatter, a notifier, a monitor and an integrator. The system may accept blockchain queries from the IoT device and may reformat the blockchain queries and alter parameters into a format and parameter framework which is operable by a blockchain peer. The system may also accept responses from the blockchain peer and may reformat the response and alter parameters into a format and parameter framework which is operable by the IoT device. The system may send the reformatted response to the IoT device for display.