SmartMesh® and MeshBox® Ecosystem (Ecosystem) is excited to announce the release of the Blockchain and IoT whitepaper for Value Internet. The Whitepaper is the labor of love from scientists, researchers and engineers from both Foundations, and will provide guidance towards the development of IoT architecture in the near future.
SmartMesh® and MeshBox® has been working together towards the mission of enabling inclusive connectivity and finance for everyone and everything, or the Value Internet and Internet for Everything and Everyone. The whitepaper focuses on design and construction of the IoT architecture by leveraging the Foundations’ HyperMesh architecture, which is closely related to Value Internet and Web3.0. The IoT architecture will ultimately form the building block for metaverse where massive real-life metadata are fed from IoT sensors and vice-verse.
Background
The Internet has evolved from Web 1.0 in the 1980s to Web 2.0 in the early 2000s — an Information Internet era. The emergence of Blockchain, Edge-Computing, Internet of Things (IoT) and Artificial Intelligence (AI) calls for the next stage evolution of internet.
Web 3.0 is a decentralized, open and trustless network where peers can transact directly with each other without centralized intermediaries, and users are the rightful owners of their data — ushering in the Value Internet era. Participants have been expanded to include machines as part of the Internet of Things (IoT).
IoT and associated applications are regarded as another wave of information technology progression in Internet evolution. According to IDC, by 2025 there will be approximately 42 billion devices connecting to internet with 73 zettabytes of data having been generated. Coupled with AI, devices are becoming smarter and autonomous in decision making by interacting with each other. However, large-scale deployment of IoT is still constrained by several fundamental factors.
- limited scalability
- interoperability challenges with fragmented, proprietary technologies
- security and privacy risks
- exclusion of underserved peoples due to non-inclusive ROI analysis
- lack of incentivization to accelerate deployment
HyperMesh Architecture Solution
To address such challenges, a highly vertical-integrated HyperMesh architecture is proposed, on top of which IoT applications are built. Critical security requirements for IoT devices and data are enabled by the SmartMesh Spectrum blockchain and Photon payment network, a Layer-2 scalability solution for Spectrum blockchain. The architecture, specifically designed for edge-networking and IoT applications, comes with high-throughput wifi-based internet connectivity and distributed content storage system with high-availability and reliability, and can operate
- with or without the Internet
- with or without a blockchain; with Photon state-channel secondary architecture,
- with or without an electrical grid; with renewable battery and solar technology.
Highlights of HyperMesh architecture that addresses IoT challenges are:
- HyperMesh architecture leverages MeshBox edge-networking nodes and enables the Web 3.0 paradigm — a decentralized, open and trustless network for peer-to-peer interactions without intermediaries.
- While the Information Internet era uses packet switching for data transfer, HyperMesh satisfies the critical requirement of Web3.0 and Value Internet paradigm by supporting the concurrent transfer of both information and value in the same protocol, a process labeled as Token Switching by the Ecosystem.
- The DeFi in SmartMesh and MeshBox Ecosystem offers monetization of IoT observability and controllability functions, which incentivize deployment, leading to wide-scale proliferation of IoT applications.
- The proposed HyperMesh enables blockchain based inclusive finance by giving users ownership of their data and helping them to monetize their participation.
- The Ecosystem partners such as satellite operators, LoRaWAN technology providers, and application builders work towards the Web 3.0 paradigm shift, which incentivizes deployment with token rewards. Instead of traditional service providers determining when and where to roll out service, the residents of a community decide when and where to deploy infrastructure such as HyperMesh nodes.
Stay tuned for future articles which detail how the HyperMeshTM Architecture, enabled with SmartMesh® and MeshBox® technology, can speed up the realization of the Value Internet.
We aim to bring dignity and a sustainable livelihood for the 3.7 billion people without internet access and the 1.7 billion people who are unbanked via Value Internet.
Please find Blockchain & IoT Whitepaper for Value Internet here.
