Internet of Things (IoT)
The Internet of Things (IoT) refers to various devices able to connect to the internet and communicate with each other. It’s then possible to have all interconnected IoT devices passing information to one another. In relation to cryptocurrency, IoT allows devices across the internet to become more secure by sending data over blockchains, turning it immutable and preventing it from being changed.
IoT paves the way for an immense amount of use cases, allowing different industries to seamlessly connect to one another through the internet. This results in a more efficient and communicative space, whether at a personal or enterprise level.
Key Takeaway
The Internet of Things (IoT) refers to devices able to connect and share information with each other over the internet. IoT technology is most commonly seen in ‘smart home’ products, such as home hubs and multifunctional speakers.