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How Web3 Will Reimagine IoT Development with Decentralized Chip-to-Cloud IoT Protocol

How Web3 Will Reimagine IoT Development with Decentralized Chip-to-Cloud IoT Protocol 3

By bringing transparency into the trade with over 13 billion customers, the Kandola Network intends additionally to form future IoTs.

The web has morphed the Earth right into a extremely interconnected village. According to analysis, there have been over 13.8 billion IoT units as of 2021. Of significance, the determine is predicted to go up by over one hundred pc in three years.

Indeed, a significant market alternative. Moreover, extra digital units are getting interconnected through the web.

However, a way of insecurity is dawning on most people and governments around the globe. Remember, many of the Web2 corporations which have dominated the tech trade maintain vital private data.

As a consequence, correct platforms are required to attach the IoT through Web3. One main participant is the Kandola Network which has positioned itself strategically to faucet into the intersection between Web3 and IoT.

James McDowall from Arcanum Capital lately stated:

“The Kandola crew brings a wealth of experience and expertise from the Web 2.0 IoT world and in our opinion have chosen the proper time to innovate by making use of Web 3.0 applied sciences to IoT. With a pre-existing shopper base and a strong imaginative and prescient of the place the sector is evolving, Arcanum Capital is assured Kandola will turn into a frontrunner within the subject.”

Kandola Network: the IoT and the Web3

In a bid to kickstart the mission, the Kandola Network has raised a pre-seed spherical of $450K from buyers like Alpha Wave Global, Sandeep Nailwal (founding father of Polygon), and Harsh Rajat (Ethereum Push Notification Services), and others. The funding spherical additionally noticed participation from Arcanum Capital, a seed-stage VC agency centered on investments in decentralized protocols and purposes for the worldwide blockchain ecosystem.

By bringing transparency into the trade with over 13 billion customers, the Kandola Network intends additionally to form future IoTs.

“Kandola is constructing an IoT3 Network which can carry out real-time transactions and finality at unprecedented scale on Web3. We will ship this worth to IoT units, producers, and shoppers. Our parts and modules are generic and can be utilized in different domains in Web3 the place there’s a belief deficit between what’s produced, processed, and delivered to shoppers and require real-time communication. Once in movement, we envision a gradual energy shift from centralized enterprises to the true house owners, the worth creators,” elaborated Ragul Kumar, Chief Technology Officer of Kandola Network.

Plenty of crypto startups are trying into the IoT for scalability functions. While they continue to be decentralized, the safety of the ecosystem is assured by the rise within the good gamers.

The IoT and Web3 have opened alternatives for corporations like Ripple Labs which is now a billion-dollar firm.

Furthermore, scaling entails actual IPs on the bottom thereby making certain real-world utility for the blockchain know-how.


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