How do smart contracts enhance IoT applications?
An example of an AI chatbot conversation about smart contracts and IoT applications.
How do smart contracts enhance IoT applications?
Smart contracts automate processes in IoT, ensuring secure and efficient transactions between devices.
Can you give an example of this in action?
Sure! In a smart home, a smart contract can automatically pay for electricity based on usage data from IoT devices.
What are the security benefits of using smart contracts with IoT?
They reduce the risk of fraud and ensure data integrity by executing transactions only when predefined conditions are met.
Are there any challenges in implementing smart contracts in IoT?
Yes, challenges include interoperability between devices, scalability, and the need for robust security measures.
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