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Tokenization of Ownership Management for Web-of-Things with Role-based Modeling

  • Currently, the Internet of Things (IoT) is connected to the virtual world through the Web of Things (WoT), allowing efficient utilization of real-world objects with Internet technologies. The WoT facilitates abstract interaction between applications and connected IoT devices, allowing owners to switch between devices while using multiple ones. To achieve this, virtual assets in WoT devices can be tokenized through smart contracts and transferred using hashed proof as transactions within blockchain networks that support virtual currencies. The goal of Web of Things is to establish connectivity, interoperability, and integration among IoT devices using web standards and protocols, reducing reliance on device manufacturers. This enables easy integration of Web 3.0 cryptocurrency for device management. This study proposes a solution for WoT applications involving different cryptocurrency definitions. Finally, simulation results are presented to demonstrate the tokenization-based ownership transfer in the Web of Things.

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Author:Oruc Orcun, Uwe Aßmann, Maliha Raja
Parent Title (German):Konferenzband zum Scientific Track der Blockchain Autumn School 2023
Publisher:Hochschule Mittweida
Place of publication:Mittweida
Document Type:Conference Proceeding
Year of Completion:2023
Publishing Institution:Hochschule Mittweida
Contributing Corporation:Tu Dresden
Release Date:2023/10/17
Tag:Cryptocurrency; Smart Contract Programming; Web of Things
GND Keyword:Blockchain
Page Number:7
First Page:71
Last Page:77
Open Access:Frei zugänglich
Licence (German):License LogoUrheberrechtlich geschützt