Qtum Foundation Presents Its First Trusted IoT Alliance Award To The University Of Sheffield

SANTA CLARA, Calif., July 16, 2018 /PRNewswire/ -- The Trusted IoT Alliance in partnership with Qtum Foundation award for academic research to the Department of Electronic & Electrical Engineering at The University of Sheffield, UK. Sheffield was selected for the $60K grant by the members the Trusted IoT Alliance. 

The university's proposal is designed to expand the blockchain community's experience with how blockchain protocols perform in lower power and low bandwidth environments. The proposed project, which will begin immediately, will deploy a pan-European network to connect sensors that measure electrical power reliability and availability. The project will provide cutting-edge hardware prototypes connected to a bandwidth-constrained low power wide area network that will serve as a reference platform for protocol and network testing.

The project makes novel use of the Qtum protocol, implementing specially designed "smart contracts" to update a blockchain's individual parameters, thereby ensuring that the data that the sensor measures are accurately transmitted throughout the network.

"The growth of the Internet of Things will require fundamentally new methods of transmitting vast amounts of data over a global network," said Patrick Dai, founder of Qtum. "The aim of this works is to provide the Qtum community with a better understanding of how current and future features of the Qtum protocol can be applied to the IoT."

"The viability of any massively scaled solution such as our proposed network requires long service life, and long-range, high-reliability radio systems that consume very small amounts of power and utilize a very narrow portion of the increasing crowded radio spectrum," said Dr. Jonathan Rigelsford, principal investigator for the project. "As part of the project, we will investigate the practicality of using the IoT network to provide LoRaWAN (Low Range WAN) based data connectivity for power metering and monitoring systems."

"As the IoT grows and demands maximum use of the RF spectrum, knowledge of the sources and causes of power quality disturbances is vital," said Zaki Manian, Executive Director of the Trusted IoT Alliance. "The knowledge gained from this project, both theoretical and practical, will be shared via the academic partnership with the Trusted IoT Alliance. We will provide access to relevant interested partners and a conduit for disseminating project outcomes."

About the University of Sheffield
The University of Sheffield is a world top 100 university renowned for the excellence, impact, and distinctiveness of its research-led learning and teaching. Sheffield is located in the north of the United Kingdom.

About Qtum
Qtum (pronounced Quantum), based in Singapore, is an open-sourced value transfer platform which focuses on mobile decentralized apps, or "dapps." It is a decentralized and open-source smart contracts platform and value transfer protocol that uses proof-of-stake consensus, meaning node operators are rewarded for validating transactions. Qtum provides a DGP (Decentralized Governance Protocol) governed blockchain where community participants can vote to change certain network parameters. Qtum provides a bridge between Bitcoin and Ethereum functionalities.    

About the Trusted IoT Alliance
The Trusted IoT Alliance seeks to enable trust in the data produced by IoT systems in an agnostic, distributed ledger/blockchain fashion. This will enable a decentralized trust model for interoperable digitized identities of physical goods, documents, immobilized assets, sensors, and machines. We wish to see this happen with the resiliency that can scale to support billions of connected devices. The consortium is working on a variety of use cases for distributed ledger-based identities, verification, firmware updates, and many more. To provide developers with a realistic environment to permit testing of protocols, applications, and devices, the Alliance has constructed a global Testnet. 

Visit us on the web at https://www.trusted-iot.org/; on LinkedIn at https://www.linkedin.com/company/trusted-iot-alliance/; and on Twitter @Trusted_IoT.

Media Contact: Zaki Manian, 650-862-5992, [email protected]

SOURCE Trusted IoT Alliance

Related Links

https://www.trusted-iot.org