IBM Reimagines Blockchain Devices Proof of Work
IBM is looking to patent a method which is meant to ensure that a network dedicated to various device connection can execute Blockchain based smart cards securely.
According to the explanations of the tech giant, it gives an oversight of the patent application which was published on Monday, “one example method of operation may include determining a proof-of-work via a device and using a predefined set of nonce values when determining the proof-of-work, storing the proof-of-work on a Blockchain, and broadcasting the proof-of-work as a broadcast message.”
The problem is the process of the connection of the IoT (Internet of Things) devices by the use of Blockchain has drawn the attention of various startups, developers and also corporations in the last few years. Therefore, this is the major concept behind IBM’s “ADEPT” proof of concept which they created in collaboration with Samsung and was launched in 2015.
Therefore, a Blockchain network which is IoT focused could not put up with the competitive “mining” which is meant to power the bitcoin network, this is majorly due to the fact that a light bulb or a smart toaster can’t harness a warehouse power filled with specialized computers. Additionally, at the same time, a large-scale Blockchain mine could possess an easier time of attacking IoT network devices and this might lead to compromise.
Therefore, the solution proposed by IBM which is described in the application would not get rid of the proof of work system owned by Bitcoin. This is because the proof of work adds a data block which is the bitcoin transaction data to the Blockchain by passing it in a hash function. This process is simple; the work, therefore, emanates from the requirement of obtaining a hash which meets the various parameters which require the flash function to be run again and again.
The IBM however, makes an explanation that it would limit nonces number or the one-time use numbers which are in a defined range in which the IoT connected devices can update in the conceptual Blockchain.
The patent application declares;
“The complexity of constructing a POW [proof of work] can be adjusted dynamically, such that there is no incentive for any IoT device to use computing power beyond a determined threshold to increase its chances of a successful completion of a POW.”