The birth of blockchain in 2009 opened the world to a whole new way of communication, interactions, transactions, and entertainment. While the blockchain has shown success in multiple industries, the technology has gained massive traction and praise because of its role in IoT adoption. Tech experts claim that the blockchain can accelerate the adoption of IoT devices all across the globe. This guide explores the concept of why Web 3.0 is actual proof that blockchain can accelerate IoT adoption. Web 3.0 Features One of the most significant developments associated with the blockchain space is Web 3.0. Web 3.0 is popularly known as a decentralized web system. It is characterized by features such as – Decentralized ownership and transfer of data No intermediaries Uninterrupted services Privacy at the core Top security No online borders Web 3.0, Blockchain, And IoT Web 3.0 is the most accurate indicator of how blockchain can accelerate the adoption of IoT devices. So how does it work? These are some of the ways to help you understand its functionality – Cryptocurrencies and NFTs As part of Web 3.0, cryptocurrencies and NFTs clearly show that blockchain can drive more IoT adoption. These blockchain-based assets accurately represent what blockchain can do for IoT. Hardware wallets are already available for such crypto-assets. Moreover, NFTs are explicitly linked to some real-world assets. Art NFTs, for instance, could be linked to the...
What Happened In Crypto This Week?
