Web3 Startup Kandola Reimagines IoT Development With a Decentralized Chip-to-Cloud IoT Protocol

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IoT devices have taken over the world by storm. The total installed base of connected devices reached 13.8 billion units in 2021 and this figure is predicted to go up to 30.9 billion units by 2025. Data is being constantly processed and transmitted by IoT devices like smart TVs, speakers, connected printers, and even smart thermostats, and it is being harnessed by large companies. Often, this data is also shared or sold to different companies, which is a severe violation of user privacy and data security.

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As the public and governments are becoming increasingly aware of the security and privacy risks posed by connected IoT devices, countries worldwide are adopting new and stringent cybersecurity laws. While this move will ensure IoT devices and applications become more robust and secure, developing solutions for these connected devices have become a lot more complicated and time-consuming. IoT solutions now need to be implemented in compliance with proper data privacy laws and the specified security mechanisms in place.

This is where Kandola’s IoT Network comes into the picture, applying Web3 technology to applications that require real-time communication and data stores like IoT hardware and apps, messaging apps, games, real-time NFT, and MetaVerse apps. Kandola promises an innovative real-time distributed message queue and decentralized IoT data store, designed to address such security and data privacy issues while maintaining the scalability requirements for IoT. Simply put, the Kandola Network will be a Global IoT laws compliant, full-stack, decentralized IoT platform that’s ready to use.

Kandola’s core team brings a wealth of experience in developing Web 2.0 IoT solutions and knows the challenges and the requirements to develop robust solutions for IoT networks in the current market. As a result, the team is focused on reimagining IoT devices and IoT platforms by placing consumers at the center stage via Web 3.0 technologies. This also gives control to the rightful owner of the data being generated by IoT devices, further enabling monetization opportunities for the end-user.

Kandola’s real-time decentralized chip-to-cloud IoT protocol platform is based on the following principles.

  • Real-time processing and finality of messages
  • Real-time data processing and storage
  • Implicit and configurable NFTs for messages
  • Privacy, confidentiality, and integrity by design
  • Built-in compliance with global data privacy regulations

 

The startup provides robust firmware on top of the IoT hardware which supports Device Identity management using DIDs, two-way optimistic verifications, and selective disclosure of device data using zero-knowledge proof cryptography. Kandola’s Chip-to-Cloud approach covers the entire ecosystem, from the connected devices to the decentralized IoT cloud platform. Moreover, Kandola’s firmware features developer-friendly APIs and real-time data streaming, making IoT development quicker, easier, and cost-effective.

With their IoT protocol, developers have easy and scalable cloud-based data access and control. Also, since the data is standardized, they can easily exchange it with other apps and solutions. Further, as an economic incentive to manufacturers, developers, and data storage and real-time streaming nodes, the Kandola protocol will also incorporate a digital token.

However, the startup aims to be more than an IoT protocol platform by becoming a global marketplace for IoT devices, data, and IoT solutions of all types. In fact, the company’s components and modules are generic and are also compatible with other domains in Web3.

Kandola currently offers a variety of Web3 based services that are not just limited to the IoT industry. Its solutions include Web3 Real-time storage and analytics persistence, Web3 Implicit NFTs for every transaction/message, and even Digital Identity for People, Entities, and Devices in Web3.

Kandola recently raised $450,000 in a pre-seed round from a marquee list of investors which include AlphaWave Global, Sandeep Nailwal (founder of Polygon), Harsh Rawat (EPNS), and even Arcanum Capital, a seed-stage VC firm focused on investments in decentralized protocols and applications for the global blockchain ecosystem.

James McDowall from Arcanum Capital recently said, “The Kandola team brings a wealth of expertise and experience from the Web 2.0 IoT world and in our opinion have chosen the right time to innovate by applying Web 3.0 technologies to IoT. With a pre-existing client base and a solid vision of where the sector is evolving, Arcanum Capital is confident Kandola will become a leader in the field.”

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