Monitoring the growth of 5g, the Internet of things and blockchain technologies will be crucial, because these three outstanding technologies will shape the future of us and the Internet.
Since all three technologies are designed to work together and influence each other, it is difficult to discuss only the influence of the former two technologies on the latter. So what is the potential of combining these three emerging technologies?
Perhaps the biggest technology wave sweeping the world is the adoption of the latest cellular network technology – 5g, and experts and non professionals have been waiting for a long time. Although the global 5g coverage is expected to be implemented in 2020, some companies have begun to implement their own plans. For example, Verizon has announced that it has achieved 5g coverage in about 19 cities in the United States, and more coverage will be achieved by 2020.
If 4G long-term evolution technology is great, 5g is even greater: newer network technology can transmit data at a rate of up to 10GB per second, while 4G is 100MB per second. 5g will ensure faster network speed, lower latency and greater networking device capacity.
These advantages make IOT devices the beneficiaries of this new technology, especially smaller, low-power devices. Faster speed means faster data transfer over the network. In addition, 5g’s excellent connectivity means that more IOT devices will benefit from it.
Internet of things (IOT)
Internet of things technology allows physical objects in daily use to connect to the Internet and transmit data through algorithms to better serve users. The world has seen a surge in smart devices such as televisions, furniture, vacuum cleaners and air conditioners.
Smart home already exists, and it’s completely operated by built-in algorithms. The Fraunhofer Institute estimates that the potential savings for smart homes are 40% in terms of heating costs. This goal applies to both families and industry.
The concept of smart city is not far from being realized. The dream of smart city is not just to reduce emissions and energy costs. McKinsey estimates that smart city can shorten commuting time by 15-20% and emergency service response time by 20-35% with the help of smart road. As mentioned before, 5g will provide a powerful way for these smart homes, smart cities and more smart devices to realize their real potential.
Once intelligent devices, especially low-power devices, have a development platform, the Internet of things will get a huge impetus. Because it will be easier to operate these devices, there will be more devices and even more people willing to use them. The world is reaching a point where without the Internet, it will be very difficult for individuals to live. In fact, the United Nations has declared network access a human right since 2016.
However, although the combination of 5g and the Internet of things has proved to be happy, there are still reasonable concerns, especially in terms of security and privacy, which is the use of blockchain.
Today, many people know about virtual currency, such as bitcoin, Ethereum, swisscoin, litecoin, TAC, etc. But only a few people have really mastered the technology behind it: blockchain. Blockchain is a decentralized database platform for storing linked transaction data blocks, hence its name.
The decentralized nature of blockchain means that it can resist most security problems. Compared with the traditional client server system, its advanced encryption provides more powerful anti hacker protection. And that’s why it’s very safe to use virtual currency for online transactions and payments.
The Internet of things and 5g have great potential together, but they can only be realized by injecting blockchain technology. While 5g provides connectivity coverage for IOT devices and transactions, blockchain processes security and ensures protection of user and transaction data. In fact, this Trinity will be very powerful, because each part will strengthen the other.
With the introduction of blockchain, skill network will be greatly promoted. Earlier this year, a Chinese doctor used a robot to perform the world’s first 5g remote operation on a patient thousands of kilometers away. As we see a significant improvement in global healthcare services, more of this is expected to happen. For obvious reasons, security in this area is crucial – and implementing blockchain in healthcare will make remote processes more secure.
In addition, the expected large-scale adoption of 5g driven intelligent devices means that blockchain will have more data than ever before, which greatly promotes the globalization of technology.
However, a blockchain that has to deal with more data is likely to lead to scalability issues. The technology stores transaction data in blocks linked by chains, and it takes about 10 minutes to build each block – what happens when more data needs to be processed and processed? The result is a large increase in block size, resulting in more response time.
In conclusion, although 5g provides speed for IOT devices, the integration with blockchain may actually slow down data and transaction processing. This is the expected challenge of integrating 5g and the Internet of things into the blockchain, and the specific solution seems not obvious. Perhaps 5g speed or better cellular technology will balance this slower processing speed.
In short, 5g, the Internet of things and blockchain all need to interact to flourish in this globalized world. Now the development of 5g and the Internet of things is unstoppable, so we urgently hope that engineers and developers can find a way to solve or bypass the problem of blockchain scalability, so that these three technologies can play their consistent maximum potential.
Editor in charge: CT