IoT related Blockchain projects

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Top Blockchain-IoT Projects
As I have highlighted to this point, while blockchain can add value to the IoT space, common blockchain architecture is not an exact fit. Now, I will discuss the three leading blockchain- and DLT-based IoT projects, examining how they combat the issues inherent with IoT application and evaluating their long-term market potential.
IOTA
IOTA (token symbol MIOTA) is the largest project on this list and the only one not based on blockchain technology. It is an IoT solution based on a concept known as direct acrylic graphs, or DAGs.
IOTA’s protocol, the Tangle, is unlike blockchain, where transactions are verified and added to a linear chain by miners. With DAGs, transactions are represented as vertices on a graph and users must verify two previous transactions before placing a new transaction.
The Tangle boasts feeless transactions with possible network speeds of over 1,000 transactions per second. But, while providing a lightweight, peer-to-peer network for more efficient IoT implementation, DAGs like IOTA’s Tangle bring up new concerns regarding security, as well as potential bandwidth limitations for nodes.

VeChain
VeChain (token symbol VET) is the second largest project tackling IoT integration. Their VeChainThor blockchain, which went live at the end of June, uses a two-token economy, semi-centralized governance structure, and Proof of Authority (PoA) consensus model to overcome obstacles associated with blockchain’s application to IoT.
The VeChainThor economy consists of the VeChain token (VET) and VeThor token (VTHO). VET is used for value transfer across the network and held to generate VTHO, which is used to pay transaction fees. The two-token model is meant to offer sustainable transaction fees on the network, as holding VET for sufficiently long will generate enough VTHO for fees.
VeChain is seeking to become the leading enterprise level solution for IoT integration, and is gaining support from businesses suffering from counterfeiters such as fashion and luxury goods. The foundation has formed strategic partnerships with PwC in China and Singapore and DNV GL, and has already begun implementing their technology.
VeChain uses an internally-developed smart chip, which utilizes RFID and NFC technology, to track products throughout their lifecycle and accommodate blockchain data requirements. Their smart chips also protect against retagging, as tearing the device renders it broken.
VeChain’s technology addresses a real problem facing fashion and luxury goods, its CEO and co-founder is the former CIO of Louis Vuitton China, the hardware is ready for implementation, and the project was runner-up in the 2018 LVMH Innovation Prize. There is a strong product-use case fit and significant corporate interest, making VeChain’s use-case the most clear and achievable in the next 2–3 years.

Waltonchain
Waltonchain (token symbol WTC) is a project focusing on blockchain enabled IoT with devices connected using RFID technology. Waltonchain’s proprietary RFID readers are nodes on the chain, and Waltonchain navigates blockchain’s IoT shortcomings through their parent-child chain ecosystem and Proof of Stake and Trust (PoST) consensus mechanism.
The Waltonchain serves as the parent chain in the ecosystem, with application-specific subchains — or child chains — affording customizable native token and block data structures. The Waltonchain serves as the public ledger of WTC transactions and provides a number of core functions including transaction and subchain management, smart contracts, and cross token transaction support within the ecosystem.
Their PoST consensus mechanism is based on the Proof of Stake (PoS) model. With PoS, all users are “miners” vying to validate transactions and discover blocks, of which the probability, and thus reward, is proportional to the amount of token staked. PoST expands on this idea by introducing a node reputation mechanism, adjusting the block discovery difficulty to better choose “honest” miners and improve network security.
Looking at use-case and ecosystem development, Waltonchain is actively working on contracts with the Chinese and Korean governments, building systems such as IoT-connected smart air purification solutions. Waltonchain also launched WTC-Food and WTC-Garment, initiatives to improve traceability of food and garments in countries like China that lack robust tracking procedures.

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