ThingsChain is a next-generation platform for IoT devices based on blockchain technology. It uses a multilayered architecture which provides a solution to the issues faced by current blockchains like lack of scalability and low transaction throughput rate. IoT devices are becoming increasingly more important in our digitized society. It is estimated that there will be 20 billion connected IoT devices in the world by 2023. Despite their growing prominence, IoT devices are hindered by the issues of lack of interoperability, poor security, and increased centralization. Blockchains are a possible solution to these problems, but current blockchain designs are not suited for application in IoT. Our team has designed a solution which attacks these problems of interoperability and scalability by creating a new multi-layered blockchain architecture specifically for IoT application. ThingsChain is a multi-layered blockchain which solves the problem of scalability and low transaction throughput faced by current blockchains. The protocol design uses a multi-layer architecture with cross chain communication and added security protocols to ensure the safety of IoT data on the blockchain.

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