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The fact that the Internet of Things technology is the future of robotics and the digital industry as a whole is far from news. And here, how blockchain will help it develop is the most relevant, hot and promising topic of the current time. So, how will blockchain help build intelligent information exchange systems?

How the Internet of Things Works

In a nutshell, the “Internet of Things” (IoT) is such a concept of the internal network for household devices and items. A kind of chat or messenger for coffee makers, washing machines, vacuum cleaners, refrigerators, and even cars, thanks to which they can exchange data on the external environment.

Hundreds of smart people around the world are struggling to create a language that will teach everyday objects to communicate with each other. And, it seems that the blockchaindevelopment by app development companies is of little use here. But this is only at first glance.

In particular, IBM is developing this concept. Combining the two concepts is supposed to help:

• track and record all changes in the network;
• create special magazines with the entire history of changes;
• Define a smart contract system for data transfer.

Blockchain, in this case, would help to unite several devices into a single infrastructure. They would thus be able to exchange parts of the property - for example, data or currency. At the same time, the blockchain itself can be used to track the time of transactions at any time.

What do the experts think?

IBM conducted a special survey among IT industry professionals to find out how promising they find blockchain technology concerning the concept of the “Internet of things”.

However, this is the main property of any blockchain, wherever it is used. In the "Internet of things" you can also adjust the level of control over the device: weaken or strengthen. Using the blockchain in this way, you can reduce the risks of hacker attacks on the data exchange system.

Dell, represented by its specialist Jason Compton, believes that blockchain could become an alternative to traditional security systems. Decentralized control will allow you to expand the scheme and make it more easily scalable - that is, you will not have to build a multi-level expensive infrastructure with secure servers that the devices would have to access to exchange data. You can connect them to a peer-to-peer network directly and in any quantity you like.

Blockchain is not only for security

Using distributed registry technologies for IoT devices can not only solve security issues but also add new features and reduce operating costs. Blockchain is a technology that works with transactions and provides interaction in the network. It is great for monitoring processes in IoT.

For example, based on the blockchain, you can support the identification and discovery of devices, facilitate microtransactions between them, and provide proof of payment.

Ways to use the blockchain for the “Internet of things”

There are at least four areas in which the blockchain can be integrated into IoT:

• Creation of a trusting environment;
• Cost-saving;
• Acceleration of transactions;
• Security Improvement.

By the way, they are already working on these technologies to use them in the development of “smart equipment” or its individual components.

Examples of solutions of blockchaindevelopment for IoT

A typical example is the support by the Hyundai industrial corporation of a startup using blockchain technology. The project was called HDAC (Hyundai Digital Asset Currency) and at the end of November 2017 raised about $40 million for development.

The essence of technology that Hyundai is developing is to adapt the blockchain for its own IoT devices. The consensus protocol will unite all devices and act on the principle of smart contracts for the exchange of transactions.

Another company, Filament, is developing an industrial chip for IoT that will automatically encode sensor data and then adapt it for the blockchain. Thus, the exchange of information from the external environment between various equipment in a peer-to-peer decentralized network will be achieved.

The third characteristic example is the IOTA project, which uses the innovative blockchain - Tangle, designed specifically for IoT devices. At the same time, MIOTA tokens are traded on the cryptocurrency market and have impressive capitalization, representing value for investors.

It is worth recognizing that the development of the blockchain for the Internet of things is still far from implementation. In particular, several security-related issues have not yet been resolved, and some legal issues have not been addressed. However, the potential from the interaction of IoT and blockchain is truly enormous.

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When Internet becomes commonplace, the world will become a smaller place where anything and everything will communicate with each other.

This is why Internet of Things app development has become such a hot topic in the recent days.

“In 2016, global spending on the IoT was approximately $737 billion. IDC predicts that by 2020, it will touch $1.29 trillion with a CAGR of 15.6 percent.”

This make us wonder how much does it cost to build an iot app? As a Digital Transformations company that has developed and launched Iot apps for healthcare, connected cars and connected manufacturing, we feel we are the best fits to answer this question.

The Multidimensional Impact of IoT App Development

There are two things to consider in IoT app development. The cost of building an iot app is also directly reliant on these two things. They are:

  1. App concept
  2. Proof of concept

The App Concept, in simple terms is the idea of the app. It should pertain to an industry, like healthcare, manufacturing, logistics, retail, automobiles, etc. The idea should be to connect and automate a process which was earlier dependent on manual processes.

Example: Collecting pressure, volume or heat readings from factory equipment

The idea should be conceived in such a manner that it can be collaborated or integrated with existing mobile applications for extensive usage and scalability.

The Proof of Concept (PoC) is like a feasibility report for your app concept. It establishes the workflow of your app and proves that it is possible to scale the concept into actual operations. Ideally, the PoC will be implemented in a real-life scenario where its commercial viability can be measured and recorded.

Example:  A manufacturing plant for automobiles that wants to automate its manufacturing workflow at each stage of operations at body shop, paint shop and dispatch.

Once you have sketched out the app concept and proof of concept you will have a precise idea of your app development requirements, like:

  • Hardware
  • Infrastructure
  • App in ioS, Android or Windows

Challenges in IoT App Development

Now comes the tough part. Unlike ordinary mobile app development, developing apps for IoT devices calls for unique set of abilities and infrastructure. The choice of hardware is the primary challenge.

The hardware should be something which has a tiny physical size and also can run for a long span of time without running out of power. The sensor must also have a low power appetite to meet the low cost expectations of an enterprise.

IoT devices primarily connect over a variety of connectivity protocols like Bluetooth, Wifi, Zigbee, RFID, Infrared, etc.

There are also other protocols followed for device identification, sensors, security and devices. The image below depicts how a typical IoT ecosystem is distributed.

Picking the right mix from the above is one of the toughest challenges in getting started with IoT development. The cost of building an IoT solution is also directly proportional to the choices made.


How Long Does it Bring an IoT to Market?


Wireframing, developing and deploying an IoT market is a hypothetical matter. There is no one answer which fits all situations. Depending on the app’s complexity, hardware used, software configurations required, the time required will vary. Some other factors which determine the time to market include:

  • Project size
  • Features involved
  • Dynamic changes 
  • New tech to be included
  • Visual Identification

Further, the cost to develop iot app will also increase or decrease with relevance to the teams involved. For a simple IoT app that can connect a Thing to a mobile app or cloud server will need a basic team consisting of:

  • 2 developers
  • 1 UI/UX designer
  • 1 QA engineer
  • 1 Project manager

For advanced IoT app development, the team requirement will include:

  • 3 to 4 developers
  • 1 UI/UX designer
  • 1 Business Analyst
  • 1 Backend developer
  • 1 Administrator
  • 1 Panel Designer
  • 1 QA engineer
  • 1 Project Manager

Overall, the cost estimation for IoT app development can be summarized as under:

  • Basic App - $3,000 to $8,000
  • Complex app - $8,000 to $15,000
  • Highly sophisticated app - $15,000 onwards

Is this a final quote for iot app development cost? Not exactly. Every mobile app, especially one designed to work with IoT will have dynamic pricing. 

 

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