IoTeX Publishes IEEE Reports on Blockchain & IoT
The Institute of Electrical and Electronics Engineers (IEEE) is the world’s largest technical professional organization for the advancement of technology.
IoTeX was invited to join the IEEE as a technical contributor and Advanced Corporate Member alongside the world’s premier institutions to contribute to the development of technical standards related to blockchain, IoT, and privacy. Our primary efforts will be focused on IEEE P2418: Standard for the Framework of Blockchain Use in Internet of Things (IoT). Earlier this year, IoTeX also participated in the IEEE Global Blockchain Summit alongside leaders in government, academia, and industry.
The development of industry-wide standards is crucial to the advancement of new technological capabilities. IoTeX’s Head of Cryptography, Dr. Xinxin Fan, currently drives several research efforts for IoTeX, as well as the broader hardware and cryptography industries. Recently, Dr. Fan joined professors and researchers from around the world as a core author of two IEEE research papers on innovations in blockchain & IoT:
- Decentralized Framework for Data Authenticity Protection in IoT Systems
- Supporting Blockchain-Based Cryptocurrency Mobile Payments With Smart Devices
The technical concepts outlined in this new research underpin core parts of IoTeX’s technical vision. Firstly, new ways for IoT systems to authenticate and protect data using a two-layer decentralized infrastructure are described, which explain IoTeX’s design decisions for a blockchains-in-blockchain architecture. Second, the ability for smart devices to effectively pay and be paid is explained in the context of an innovative cryptocurrency-based mobile payment processing network.
For more details, please see the official IEEE digital libraries below — documents are available to IEEE members.
Decentralized Framework for Data Authenticity Protection in IoT Systems
It is predicted that more than 20 billion IoT devices will be deployed worldwide by 2020. These devices form the critical infrastructure to support a variety of important applications, such as smart city, smart grid, and industrial IoT. To guarantee that these applications work properly, it is imperative to authenticate these devices, as well as the data generated by them. Although digital signatures can be applied for these purposes, the scale of the overall system and the limited computation capability of IoT devices pose two big challenges. In order to overcome these obstacles, this paper proposes a novel decentralized ledger-based authentication framework for IoT devices. The framework utilizes a two-layer decentralized ledger architecture together with a lightweight data authentication mechanism to facilitate IoT devices and data management. This work has been published in IEEE Network.
Supporting Blockchain-Based Cryptocurrency Mobile Payment With Smart Devices
The ownership of smart devices is higher than ever before and mobile payments have become one of the major payment methods in many different disciplines. As a result, there is a natural demand to support cryptocurrency payments on smart devices. Considering the poor infrastructure and low penetration of financial services in developing countries, this combination has high potential impact. This paper proposed two different schemes for cryptocurrency mobile payments, one involving a centralized bank and the other not requiring any centralized party. This paper also provides a solution to meet KYC (know your customer) and AML (anti-money laundering) compliance requirements in the context of cryptocurrency mobile payment processing. This work has been published in IEEE Consumer Electronics Magazine.
About IoTeX
Founded as an open source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.