IBM is seeking to patent a method for ensuring that a network of connected devices can securely execute blockchain-based smart contracts.
As the tech giant explains in a patent application published Thursday, âone 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.â
The problem of how to connect Internet of Things (IoT) devices using blockchain has drawn the attention of a number of developers, startups and companies in recent years â indeed, that was the central concept behind IBMâs âADEPTâ proof-of-concept, created in partnership with Samsung and unveiled in early 2015.
An IoT-focused blockchain network couldnât engage in the kind of competitive âminingâ that powers the bitcoin network, largely because a smart toaster or lightbulb canât harness the power of a warehouse full of specialized computers. At the same time, a large-scale blockchain mine could conceivably have an easier time of attacking a network of IoT devices and, thus, potentially compromise it.
IBMâs proposed solution â described in the application â wouldnât ditch bitcoinâs proof-of-work system. Proof-of-work adds a block of data â transaction data, in bitcoinâs case â to the blockchain by running it through a hash function. This is a simple process; the âworkâ comes from the requirement to obtain a hash that meets certain parameters, which calls for running the hash function again and again.
Essentially, IBM explains that it would limit the number of nonces, or one-time-use numbers, within a defined range that the IoT-connected devices can employ when updating the conceptual blockchain.
That way, IBMâs patent application says, âthe 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.â
This system, the application argues, has the dual benefit: it averts competition among the networkâs devices for greater and greater computing power, and it prevents an outside actor with a high hash rate from being able to take control of the blockchain. It should, in other words, âprovide equal chances of successful completion of proof-of-work to all IoT devices in the network.â
IBM envisions applying this invention to smart contracts, with use cases such as âpeer to peer (P2P) energy networks, logistic networks, crowd-sourced weather networks, and the like.â
Lightbulbs image via Shutterstock.