How to Make a Socket Selling Power and Internet Access for Ether
Earlier ForkLog wrote about Valery Litvin, a Belarusian blockchain developer from the Cyber.Fund team, and the smart socket selling power and Wi-Fi access for Ether he had created. The device has been presented and successfully tested at the recent Blockchain Conference Kyiv.
Essentially, the socket is an Internet of Things (IoT) device that acts as an autonomous agent charging users for its services. Potentially the device will be able to pay for its own operating expenses, be it power or internet bills, or payments for repairs and other human-rendered services. Currently, the socket supports two kinds of connection: a standard 220V socket and a USB port. The device is also equipped with a display to show QR codes of payment addressees and other relevant information (like Wi-Fi password).
Further development and usage of the device is limited by the developers’ fantasy. For instance, it could be equipped with a solar panel to sell the generated power.
Generally, the device works as follows:
1. A smart contract in the Ethereum network grants a client access to the device’s resources (power, internet access) after the payment has been executed.
2. The client connects to the socket and transacts ETH to the account from the QR code.
3. The device starts supplying power.
Apart from the device itself, Valery Litvin also spoke about the DAO concept, as well as about the opportunities such entities create for devices and companies.
â€śThe idea of creating a smart socket is an old one. Dima Starodubtsev (architect at Cyber.Fund) and Kostya Lomashuk (Satoshi.Fund CEO) have been into it ever since the Ethereum’s crowdfunding back in 2014. It all triggered after I talked to Kostya at the Bitcoin Conference Moscow, as well as after Mike Chobanyan attended Bitcoin & Blockchain Meetup Minsk #1 I had organized this April. Mike offered me Kuna Bitcoin Agency’s cooperation as a part of creating Smart Hub in Kyiv, which is a platform for cryptocurrency and blockchain projects. Additionally, I had a chance to speak at the Blockchain Conference Kyiv. Currently the development is taking place at the Cyber.Fund labs, where we are engaged in designing a number of smart appliances and prepare our DAO concept for the release,â€ť Litvin told ForkLog.
The developer intends to issue a series of features to enable anyone to assemble a similar device. Further development of smart sockets will be funded by cyber.Fund. The project’s progress will be reflected in their blog.
Subscribe to our Newsletter<
- Whales Transfer Over 700K ETH in ‘Pre-Pump Positioning’
- Report: Hackers Took Advantage of ETH Mempool Congestion to Steal $8.3M MakerDAO
- Creating Token In 5 Minutes. Enecuum Example
- Will Bitcoin Always Be #1?
- Hackers Can Impersonate Bluetooth Devices to Steal Users’ Personal Data: Is This a Threat to You?
- Cryptocurrency Documentary Review: Should You Watch It and Why
- Token Ecosystem Nobody Has to Pay For: Will It Work?
- Ethereum May Not Be Able To Handle DeFi Workload: What It Could Mean for Decentralized Finance