Blockchains and the IoT
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Bosch Connected World presentation on Blockchains and the IoT
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Blockchains and the IoT
- 1. Blockchains and the IoT Mat Keep Director of Product &Markets, MongoDB mat.keep@mongodb.com @matkeep
- 2. Bitcoin • Released in 2009 via a niche mailing list • Now world’s largest digital currency • Six hundred trillion SHA256 computations performed per second • Worth over $1k per bitcoin – 24,000% growth since launch • Buy pretty much anything
- 3. Blockchain: What’s Special? • Decentralized database maintaining a growing list of records • Peer-to-peer – not owned by a single instance • Any member can add it (if other participants agree) • State is distributed to all nodes • Immutable, tamper-proof • Trusted transfer of assets, value & ownership
- 4. Centralized System of Record Clearing House Ledger Blockchain Faster, Safer, Cheaper
- 5. Financial Services: World Economic Forum
- 6. Image courtesy of Dzone
- 7. 110GB in size 7 transactions per second, multi-minute latency
- 8. Core Blockchain Design Principles SCALABILITY CONSISTENTDECENTRALIZED
- 12. Blockchain Software Stack Application: Supply Chain, Identity Management, Energy Credits, Stocks, etc. Blockchain Layer Database Layer
- 14. Database Layer Rich Queries Scalability & Data Distribution Enterprise Hardened
- 15. Implementation Pattern Blockchain DB e.g. BigchainDB Client 1 Client 2 Admin Client 10,000 Co- Admin 1 Co- Admin 2 Co- Admin 21 control control data Distributed DB MongoDB Core DB MongoDB Client 1 Client 2 Client 10,000 data
- 16. How Real is This? Electric Vehicle Charging Music IP Licensing Trade Stores Embedded Database Layer
- 17. Why MongoDB for the Blockchain Database Scalability & Performance Always On, Global Deployments Data Model FlexibilityExpressive Query Language & Secondary Indexes Strong Consistency & Data Integrity Enterprise Management & Security
- 18. Learn More • Visit MongoDB Stand S12 • Download Enterprise Grade Blockchain whitepaper • Book a 2-hour workshop
- 20. Block #122 Hash Timestamp Nonce Transaction #817 • Metadata • Transaction Data Transaction #725 • Metadata • Transaction Data Transaction #933 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #123 Block #123 Hash Timestamp Nonce Transaction #7002 • Metadata • Transaction Data Transaction #3155 • Metadata • Transaction Data Transaction #2111 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #124 Block #124 Hash Timestamp Nonce Transaction #353 • Metadata • Transaction Data Transaction #10005 • Metadata • Transaction Data Transaction #8555 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #125 Blockchain Under the Covers
- 21. Characteristic MongoDB Traditional Blockchain Blockchainified MongoDB Database Characteristics Queryability ✔ ✔ Scale ✔ ✔ Operationalized ✔ ✔ Blockchain Characteristics Decentralized ✔ ✔ Immutable ✔ ✔ Assets ✔ ✔ Marrying Blockchain and the Database
- 22. Processing (e.g. Ethereum, Hyperledger) File System (e.g. IPFS) Database Blockchainified MongoDB (eg BigchainDB) Applications DecentralizedCentralized Processing (e.g. local server, EC2) File System (e.g. Linux FS, HDFS, S3) Database MongoDB Applications Processing (e.g. local server, EC2) File System (e.g. Linux FS, HDFS, S3) Database Blockchainified MongoDB (eg BigchainDB) Applications Database MongoDB Partly Decentralized Enterprise Blockchain Maturity Model
Notes de l'éditeur
- Fastest growing database – built on a non-relational, NoSQL design, customers in over 50% of F100, used as the database by the Bosch SI IoT suite IoT is a surging use case for us – not just Bosch, but also likes of AXA, GE Predix. Over the past 12 months, we’ve seen an explosion interest in blockchain. So this session brings those 2 topics together – look at the tech, use cases, and how you can started
- When people start thinking about blockchain, usually gravitate towards bitcoin as that is the largest working demonstration of what blockchain can do Some of tech below bitcoin – blockchain and distributed ledger is inherently useful beyond digital currency
- The blockchain can programmatically instantiates trust between the transaction’s counterparties. On left, traditional trade settlement system where a clearing house records all transactions between different banks – recorded in a central ledger, on right, have that same process taken to the blockchain – now each party has its own copy of the ledger, and no-one can alter it without agreement from all of the other parties - issue and transfer assets, without reliance on a central entity – which business processes faster, safer and cheaper In November 2016 Barclays claimed they had completed the world’s first blockchain-based global trade transaction – compressing a process that would normally have taken up to 20 days to just a matter of hours: A blockchain-based letter of credit closed a transaction between Ornua (formerly the Irish Dairy Board) and the Seychelles Trading Company, guaranteeing the export of almost US$100,000 worth of cheese and butter.
- WEF 2016 report on blockchain predicted blockchain would be “beating heart of finance within 5 years R3 Consortium – over 70 financial services Depository Trust & Clearing Corporation (DTCC) moving $11tn worth of credit derivatives – speed up post trade settlement, reduce operational costs Post trade estimated to cost banks ww $20bn a year See many other apps – Govt of Honduras using blockchain for land registry, govt of Estonia using it for citizen identification
- This chart from dzone – goes thru 8 use cases – manu, to retail, to connected vehicles Will all sensor data go onto the blockchain? No – but when dealing with trust and ownership, then it makse sense Think about tracking the provenance and authenticity of food – as Walmart is doing with farm to fork initiatives Think maintenance records of connected vehicles Think supply chains where sensors record shipment of products, against which invoices can automatically be generated by smart contracts Transactions coming from the IoT app can be recorded here in the blockchain https://dzone.com/articles/what-blockchain-can-do-for-the-internet-of-things
- However 1 “inconvient truth” if we were going to model blockchain app on bitcoin model How is this going to work for an iot app that could be ingesting hundreds of thousands of sensor readings every second How are we going to scale this thing?
- When we look at blockchain implementations – there are 3 core design principles we can optimize on Consistency: every node can see the same data Decentralized Any node can partiticipate in validation Scalability: performance and capacity Getting all 3 is not impossible, but computer science hasn’t solved that yet So optimizations are made to meet different app requirements
- Permissionless, public ledgers – we see bitcoin and ethereum Any node can act as a validator Comes at the expense of scalability – CPU power and in network bandwidth
- In terms of enterrpise usage – optimizing around consistency – every data can see the same data, and scalability, but they don’t have full decentralization – in other words a subset of nodes are allowed to validate, but not all – Think about a supply chain – could have a private blockchain where a permissioned node for each compnay in the supply chain can validate – but not every node that has a copy of the blockchain is invited to validate the transaction Still have core principles of blockchain, without the sscalability challenges, and you know exactly which nodes are authorized to validate a transaction – impt for regularoy compliance in knowing who your data controllers are Sometimes sparks religious debate, but this is a more practical manifestation
- When we look at the tech stack to implement blockchain – we see 3 s/w layers 1 – app layer Middle lyer Layer implements blockchain controls, ie consensus & immutability. Database layer – that stores the blockchain contents For blockchain vendors – they can try and build the blockchain layer and the database themselves But building databases is hard Another approach is to start with a proven distributed database, and then build the blockchain on top of that Approach taken by R3 corda ledger, or BigChainDB Drill into each a little more
- What does that blockchain software do? Enforces Decentralized: it handles which nodes are authorized to adminster or validate transactions. Impt because can’t have just one admin, since that would be centralized! Rather, there are several co-admins, which collectively share control. Each admin node votes on whether each incoming transaction is valid and which handles consensus Immutable : hashing functions to make each block point at its preceding block Asset transfer:manage keys that are assigned to each block to approve a transaction, execution of code as transactions commit to the blockchain – ie automatically issuing an invoice when goods delivered to the customer
- Queeyability – ability to query the blockchain to validate transactions, and to extract intelligence from the data in the blockchain Scalability – keep pace with growth in users and data Ent hardended – robust security, FT, backup and recovery, data distrubtion
- On the left, we have a regular mongodb – serving an iot app which is under control of a single entity - single admin. This is how mongodb is used On right – MongoDB with Blockchain s/w about it – see multiple admins – providing blockchain properties above, and controlled by multiple admins
- Bigchain – 1 of the leading blockchain s/w providers. Approaching GA, impressive list of partners working on blockchain projects across multiple industries, including Cap Gemini, Interledger – protocol for connecting multiple ledgers, Everledger – build public and private blockchains – targeting finsvs and supply chain
- Why does mongodb make a great database for blockchain. MongoDB based on nexus, best of relational and nosql This aligns really well with the requirements of blockchain Perform rich queries against the blockchain – checking the lineage of the block – use graph to query back against a block’s hash. Also perform rich search and aggregations for analytics against blockchain data to power operational intelligene Strong consistency needed for strict ordering of blocks. ACID guarantees on each block Need robust security controls – to control access permissions, for encryption, for auditing for reg compliance Blocks themselves are rich data structures, storing many transactions, with different inputs, outputs and payloads. Model that as a JSON document, rather than into a rigid row and column format of a RDBMS is much simpler – and blockchain apps are fast moving, agile development, so a flexible schema is essrential Scale out, deploy across DCs or regions for always-on
- Once parties initiate a transaction, its signed with a private key and posted to the network. Here its packaged with other transactions into a block, which is then cryptographically hashed and validated by authorized peer nodes, agreeing on state through a consensus mechanism. Once consensus has been agreed by authorized nodes, the block is immutably recorded into the ledger, and then distributed to all other nodes on the blockchain. Each block stores a timestamp and a link to the previous block, thus creating a chained sequence of records. This process of chaining provides an audit trail for every block recorded in the blockchain. any attempt to retrospectively alter the contents of the block is detected by all nodes participating in the blockchain.
- We can see this type of deployment patter being part of a blockchain evolution, or maturity model On the left – a traditional centralized app In the moddle – where we are now, partly decetnralized Moving in the future to one that is completely decentralized