Atonomi, the blockchain-based arm of leading IoT security provider CENTRI Technology, today announced the launch of the Atonomi Network, a crypto-security protocol that will enable advanced trust and identity validation for IoT devices for the first time. Building on Ethereum technology, the Atonomi Network will provide an immutable blockchain-based identity and reputation service to secure the vast realm of IoT devices – ranging from home automation systems to smart-city infrastructure, to industrial sensors and controllers.
The project, backed by venture capital firm LaunchCapital, will also provide the security, identity validation, reputational trust, scalability and transaction processing speed required for billions of IoT devices to conduct trillions of device-to-device transactions.
Standout advantages of the Atonomi Network include validated device identity, reputational tracking, an immutable blockchain-based ledger of things, interoperability across industrial and consumer devices, and a partner-focused extensibility model to enable broad adoption of the solution.
Atonomi CEO Vaughan Emery said:
“Building on years of CENTRI’s experience in security technology innovation and our relationships with large device manufacturers, the Atonomi Network’s protocol will create a secure ecosystem for autonomous device-to-device transactions. IoT already enhances many aspects of our lives, but the current challenges that plague security, including the absence of identity validation and device trust mechanisms, impede the way we transact and interact. By verifying the identity of individual devices via the blockchain, the Atonomi Network will help the IoT reach its full potential for scale.”
“We are focused on extensibility of the Atonomi Network so that vendors will be able to build distributed applications, known as DApps, using our protocol and secure infrastructure to meet the precise security needs of specialized verticals and custom use cases.”
The Atonomi Network will help secure the IoT and its real-world applications. Homeowners, for example, can register smart home devices with the Atonomi Network to validate devices on the premise and help eliminate the risk of hackers accessing personal information. Electric cars can plan the next charging stop by monitoring the price and location of upcoming charging stations, and make the payments autonomously.
Within industrial IoT, the Atonomi Network can protect against hackers gaining control of the sensors, controllers, and other devices that regulate the operation of essential infrastructures, such as hydroelectric dams and utility grids.
Advisor Andrii Zamovsky from Ambisafe said:
“We were immediately attracted to the Atonomi vision and the advanced architecture that sets the Atonomi Network apart. IoT absolutely requires this innovative technology built on identity and trust, and this project will provide the solution needed to make IoT work.”
The basic Atonomi architecture, built upon the Ethereum platform, will include three key elements for users and ecosystem developers:
- Identity Registry – is a private blockchain consensus network that validates device identity to establish the root of trust of new devices, and tracks device reputation. This enables validated devices to engage in autonomous transactions with other validated devices.
- Transaction Validation Ledger – mediates transactions between IoT devices that have been validated by the Identity Registry while applying additional attributes such as reputation, transaction limits, and other user-defined variables. The Transaction Validation Ledger facilitates real-time transactions while recording validated transactions for an irreversible record.
- Atonomi Token – a blockchain-based native cryptocurrency which is used to conduct transactions on the Transaction Validation Ledger. An Atonomi Token can be used, for device-to-device autonomous transactions – such as a sensor in the field seeking the lowest market price for electricity, or purchasing temporary wireless access for intermittent reporting.