Proposal of an economy of things architecture and an approach comparing cryptocurrencies

Abstract

In the present computational scenario, one can perceive the emergence of cryptocurrencies and the increased utilization of IoT devices, which are pushing to new challenges, opportunities, and behavior changes. It is still not known how these technologies will impact the current business and economic models. In this regard, this study proposes an economy of things architecture and an approach comparing several cryptocurrencies. Therefore, the proposed architecture aims to use these new opportunities to enable device-to-device (D2D) interaction based on this novel paradigm, called the Economy of Things (EoT). An experimental environment was conducted to compare characteristics of the cryptocurrencies Ripple, Iota, and Ethereum. The initial results show several interesting differences related to transaction costs, errors, speeds, and threads.