Blockchain

Development

As we step into 2024 with new resolutions, our team has been reflecting on the technologies that are poised to make a significant impact in the coming year. Among various innovations, Artificial Intelligence (AI) and Blockchain have particularly captured our attention. Let's explore what the future may hold for these transformative technologies.

## **Blockchain: Paving the Way for a Decentralized Tomorrow**

Several team members are enthusiastically shifting their focus towards Blockchain technology. They recognize its potential beyond cryptocurrency and envision Blockchain as a key player in creating secure, efficient, and transparent systems across various sectors. In 2024, their dedicated efforts will be focused on enhancing their full-stack development skills, with a particular emphasis on mastering design patterns relevant to Blockchain and other emerging technologies.

![BlockchainAgency2024.png](https://strapi.suprabit.eu/uploads/Blockchain_Agency2024_545999260a.png)

## **AI: The Vast Realm of Possibilities**

When we asked one of our team members what he thinks, he simply replied with "AI stuff". The term "AI stuff" may sound simple, but it represents Artificial Intelligence's immense and mostly unexplored potential. Our team sees AI not just as a tech trend but as a game-changer in the making. From making everyday tasks easier to tackling complex challenges, AI is set to revolutionize our workplaces and daily lives. The real challenge and opportunity lie in turning theoretical AI concepts into practical and impactful business solutions. We're jumping on the bandwagon by providing our partners and clients with personalized AI experiences tailored to their business needs.

![AISolutionsAgency2024.png](https://strapi.suprabit.eu/uploads/AI_Solutions_Agency2024_02be6f5d17.png)

## **AI and Blockchain: The Dynamic Duo of 2024**

The merging of AI and Blockchain technology is something that really gets us excited. The amazing analytical capabilities of AI have the potential to greatly improve the security and efficiency of Blockchain networks. On the other hand, Blockchain can provide a strong and transparent foundation for applications driven by AI. With the growing regulation and popularity of cryptocurrencies, we think that 2024 could be a big year for the widespread use of these technologies, changing the way we interact digitally and the overall tech scene.

![BlockchainAISolutions.png](https://strapi.suprabit.eu/uploads/Blockchain_AI_Solutions_b0977e70e8.png)

As we welcome 2024, these insights not only showcase our excitement for the future but also demonstrate our dedication to remaining at the cutting edge of technological advancements. If you're looking to enhance your business with innovative AI or Blockchain solutions, don't hesitate to reach out. Send us a message through our [contact form](https://suprabit.eu/contact), and let's explore how we can propel your business into the future together.

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Discover the Future of AI and Blockchain in 2024! Our team shares insights on Blockchain's role in creating decentralized systems and AI's untapped potential in transforming businesses and daily life. We also explore the exciting synergy between AI and Blockchain and how this powerful duo can enhance digital security and efficiency.

AI & Blockchain in 2024: Embracing the Future

React

Design

In the ever-evolving landscape of smart building management solutions, we are consistently committed to innovation and excellence. In this case study, we’ll explore one of our most remarkable projects – the Smart Sensor, a cutting-edge multi-sensor designed for ideal room climate monitoring. Today, we visit this groundbreaking technology to dive deeper into its capabilities and the impressive results it continues to deliver for our Swiss-based client, a leading building automation solutions provider.

![Mask group.png](https://strapi.suprabit.eu/uploads/Mask_group_017e145b33.png)

The Smart Sensor project was born out of the need to address the complex challenge of room climate and environment monitoring. This IoT system integrates an array of sensors, including those for temperature, humidity, volatile mixed gases, presence/motion, brightness (light intensity), and noise level. The real magic happens through sensor fusion, where data from these sensors is intelligently combined to provide precise information about the room's state. Mounted discreetly on the ceiling, the Smart Sensor captures critical environmental data and also communicates room status to users through an LED ring, where each color signifies different aspects of room occupancy, air quality, or cleaning requirements.

![Frame 10.png](https://strapi.suprabit.eu/uploads/Frame_10_24c5bbe3b7.png)


In this case study, we will explore the firmware, mobile application, and dashboard that make this technology a game-changer in smart building management.


## Holistic Approach
For this project, it was crucial to take a holistic approach. We needed to synchronize the embedded and IoT teams with our product designer and mobile app development team. From the project kickoff until the final bug fixes, the entire team worked collaboratively to create the perfect solution. We held team meetings with our client to discuss their needs, and then our teams planned together to ensure smooth coordination. The client’s product development team would provide the requirements, our designer would create the UI for the mobile app feature, and the IoT team would develop the firmware. At the same time, the mobile team would begin implementing the feature. This iterative approach allowed us to address any issues promptly, eliminating long waiting periods between different teams.

## Academic research
As we ventured deeper into the project, leveraging cutting-edge technology, we encountered a significant challenge with our sensors, specifically in obtaining accurate noise level measurements. Recognizing the critical need for precision, we decided it was time to elevate our approach. To achieve the highest level of accuracy possible, we visited a local university. There, we gained access to their quiet room—a space so tranquil that even the sound of a heartbeat can be heard.

![silentroom.png](https://strapi.suprabit.eu/uploads/silentroom_2acc2ccd92.png)

In this controlled acoustic environment, we diligently fine-tuned and calibrated our microphone sensors, ensuring they delivered the most reliable and precise results. This collaborative effort with academia underscored our commitment to excellence and demonstrated our readiness to go above and beyond to guarantee the Smart Sensor's exceptional performance in real room conditions.

## IoT Development
In the realm of IoT development, the Smart Sensor project represented a significant milestone for us. The primary goal of the Smart Sensor was to monitor room climate and environmental conditions, and to achieve this, we integrated a range of sensors, including temperature, humidity, volatile mixed gases, presence/motion, brightness (light intensity), and noise level detectors. These sensors were meticulously designed to work in concert, enabling sensor fusion to provide highly accurate information about the room's state.
![senzori.gif](https://strapi.suprabit.eu/uploads/senzori_2d6699f3ec.gif)

Our IoT-ready approach was a key element of this development, as the Smart Sensor implemented MQTT communication via IP/Ethernet. Additionally, we leveraged Bluetooth Mesh for seamless networking of sensors, enabling efficient communication between up to 16 nodes and a gateway device. This wireless networking capability allowed for real-time data exchange between devices through node-to-node communication. Bluetooth Beacon technology was employed to enhance interaction with the mobile application, providing precise device localization within the room.
![case study.png](https://strapi.suprabit.eu/uploads/case_study_b65d97440b.png)

Our work extended to the firmware, where we crafted a robust solution in C/C++ for the ESP32 with dual-core processing, ensuring the efficient operation of the Smart Sensor. This IoT development effort represents our commitment to innovation and excellence in delivering solutions that transform complex challenges into user-friendly, efficient, and highly functional IoT devices.


## Design
When developing the Smart Sensor mobile application, our design approach placed user experience (UX) at the forefront. Unlike many specialized applications that often neglect user-friendly design, we aimed to create an intuitive and enjoyable user journey from the very first interaction.

![App.png](https://strapi.suprabit.eu/uploads/App_4f1c2ef09c.png)

While prioritising UX over UI in the initial stages, we emphasized rapid iteration and user feedback to identify and resolve potential issues efficiently. Through constant communication among teams and a deep understanding of the possibilities and limitations of both sensor hardware and application, we crafted a seamless provisioning process for technicians, ensuring simplicity and error-proofing.

The design process involved some innovative solutions and out-of-the-box thinking, such as using unique colors and LED rings on sensors to aid technicians in precise sensor identification during provisioning. Thoughtful language choices, like replacing "Provision" with "Configure" and "Lock," were made to eliminate confusion and improve the user experience. This commitment to user-centric design not only resulted in a more intuitive application but also highlighted the profound impact of intentional language and iconography in creating a user-friendly interface.

![sensors.png](https://strapi.suprabit.eu/uploads/sensors_79eefbbaac.png)

Overall, our approach to design reflects our dedication to delivering high-quality, innovative, and user-centric applications that set new standards in the field of smart building management. You can read more about our design journey [here](https://suprabit.eu/article/smart-sensor-design).

## Mobile app development
The development of the mobile application for the Smart Sensor project was a crucial part of the solution. Our client required an app that would empower their technicians to efficiently provision the sensor, map out floor plans and networks, and configure settings effortlessly. Beyond the initial setup, the mobile app continued to play a pivotal role, enabling users to monitor and manage room conditions, as well as to update the sensors wirelessly. It acted as the essential link between users and the sensors. All of this added an extra layer of convenience to setting up and maintaining the whole system.

![Phone.png](https://strapi.suprabit.eu/uploads/Phone_3c26d79663.png)

Using the versatility of React Native with the convenience of Expo, our mobile team delivered a robust application that catered to both Android and iOS platforms. This cross-platform approach ensured that our clients had access to a wider user base, making it more accessible and user-friendly. The app seamlessly communicated with the sensor devices using Bluetooth Low Energy, providing technicians with real-time access to vital data. This capability was the key to the provisioning and setup of the Smart Sensor, making the commissioning process efficient and user-centric.

## Conclusion
In conclusion, the Smart Sensor project has provided us with valuable insights into smart building management solutions. Throughout the project, our teams worked together to develop software for an advanced IoT device that seamlessly monitors room climate and environmental conditions. We prioritized precision by consulting with academia to fine-tune sensor technology.

Our IoT development efforts, including MQTT communication, BLE Mesh networking, and iBeacon technology, set new benchmarks for real-time data exchange and device localization. Additionally, we created a user-centric mobile application that simplifies provisioning, configuration, monitoring, and updates for technicians.

The Smart Sensor project not only met the requirements of our client but also pushed the boundaries of sensor calibration, IoT development, and user-friendly mobile applications. As we look towards the future, our commitment to innovation and excellence remains, and we eagerly anticipate developing new smart building solutions.




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Read all about how we reinvented the Smart Building Industry using our IOT, design and development expertise.

Smart Sensor - Case Study

We've all become acquainted with cryptocurrencies like [Bitcoin](https://bitcoin.org/) and [Ethereum](https://ethereum.org/en/). Some of us have dived into the crypto market, exploring and investing in various digital currencies, familiarizing ourselves with the array of options available. Crypto investors are often drawn to volatile cryptocurrencies with fluctuating values, but ultimately, many end up converting their funds into stablecoins via pools on decentralized exchanges (DEXs). 

*Have you ever wondered how stablecoins maintain their equal value to the dollar on a distributed ledger?* USDT and USDC are two of the most talked-about stablecoins. These coins are not fully decentralized or algorithm-based, but they play a significant role in the cryptocurrency market. They are considered centralized because they are issued by specific authorities who ensure each coin is backed one-to-one by dollars, for which they charge a fee.

USDT, for example, claims to always be worth exactly one US dollar. However, there are some doubts about the actual cash reserves backing each USDT, as the issuer, Tether, sometimes lacks transparency in this area. On the other hand, USDC is known for its openness and regular audits of its dollar reserves. It's issued by Circle and Coinbase and also maintains a one-to-one value with the US dollar. Despite this transparency, the control over issuing and managing USDC remains centralized.

Now that we've briefly examined how centralized stablecoins operate, let's delve deeper into our topic.

## What are Decentralized Stablecoins?

Unlike centralized stablecoins backed by assets like fiat, gold, oil, or real estate, decentralized stablecoins are algorithmic. No central authority backs or controls them.

Blockchain technology operates on a decentralized ledger, creating a natural demand for decentralized stablecoins. These coins offer an innovative solution in the cryptocurrency world. They combine the stability of traditional currencies with blockchain benefits. Decentralized stablecoins use algorithms and smart contracts to keep their value stable, no matter the external influences. Let's explore how these principles work and how they ensure stability.

## Understanding MakerDAO: The Backbone of Decentralized Finance

In the vast landscape of decentralized finance (DeFi), MakerDAO stands tall as a pioneer, offering a unique solution to the volatility conundrum inherent in cryptocurrency markets. At the heart of MakerDAO lies a symbiotic relationship between two tokens: MKR and DAI. MKR, the governance token, empowers holders with voting rights, allowing them to actively participate in shaping the future of the MakerDAO ecosystem. On the other hand, DAI serves as a stablecoin, meticulously pegged to the value of the US dollar. But what sets MakerDAO apart is not just these tokens; it's the ingenious mechanism behind them.

The core concept revolves around maintaining the value of DAI in relation to the USD through a decentralized framework, achieved with the assistance of collateral and vaults - smart contracts that oversee collateralization.

### Here's how it Works:

A user deposits ETH or ERC-20 tokens as collateral into a vault. Based on the collateral, the user can mint new DAI tokens. However, there's a catch - the system imposes a minimum collateralization ratio. For instance, if the minimum ratio is set at 150%, the user must have at least $150 worth of collateral for every $100 worth of DAI generated. If the collateralization ratio falls below the minimum (e.g., 150%), the user must either add more collateral or face liquidation.

### Let's Illustrate this with an Example:

Imagine a user possesses 5 ETH, each valued at $200, totaling $1000. Assuming a minimum collateralization ratio of 150%, the user can generate a maximum of 667 DAI. However, for safety, the user decides to mint only 500 DAI, maintaining a comfortable collateralization ratio of 200%. In this scenario, the user secures their position, safeguarding against potential market fluctuations.

![im_1.png](https://strapi.suprabit.eu/uploads/img_1_1d36e38d5b.png)

If the value of the collateral increases, the user can generate additional DAI tokens. The system mints an over collateralization buffer of 500 DAI. In our example, if the price of ETH rises to 300 USD, the user can generate an additional 250 DAI tokens (if they wish to maintain a 200% ratio).

![img_2.png](https://strapi.suprabit.eu/uploads/img_2_6e2d1717dc.png)

On the other hand, if the value of the collateral falls to $500 (or below), the user can deposit additional collateral into the vault. The collateralization factor stands at 150%, allowing a maximum loan of 1,000 DAI, calculated by dividing 1,500 by 1.5. Another user, known as the keeper, can liquidate the contract. The actual loan amounts to 500 DAI, resulting in a collateralization ratio of 300%.

The keeper sells enough collateral to gather the DAI tokens needed to repay the vault. The keeper keeps a certain fee and returns the remaining collateral to the user's vault.

![im_3.png](https://strapi.suprabit.eu/uploads/img_3_197971a0fa.png)

Conversely, if the price of ETH drops to $150, with the collateral now valued at $750 and the ratio standing at 150%, the keeper will sell 3.33 ETH for 500 DAI and return it to the vault. They will retain 0.2 ETH as a fee, while the remaining 1.47 ETH will be returned to the user's vault.

![im_4.png](https://strapi.suprabit.eu/uploads/img_4_3a15ad08dd.png)

## Ensuring Stability and Sustainability in MakerDAO

As MakerDAO continues to revolutionize the landscape of decentralized finance (DeFi), it uses various mechanisms to maintain stability and foster sustainable growth within its ecosystem. Let's explore these mechanisms:

- **Stability Fee:** This fee has a variable interest rate applies to all vault users who generate DAI tokens. It serves to regulate the DAI supply and is crucial for keeping its value stable relative to the pegged currency (USD).
- **DAI Savings Rate (DSR):** On the flip side, the DAI Savings Rate offers a variable interest rate that DAI token holders receive. To earn DSR, holders must deposit their tokens into a specific smart contract. Note that the DSR remains lower than the stability fee, motivating users to borrow DAI instead of holding it.
-  **Debt Ceiling:** To prevent excessive expansion of the DAI supply, MakerDAO imposes a debt ceiling. This ceiling limits the maximum amount of DAI that one can generate in a particular vault, depending on the collateral type. This control helps keep the system within safe limits and protects against risks from too much issuance. If liquidation fails to cover the outstanding debt of DAI tokens, the system covers the shortfall using the collected stability fees. This mechanism keeps the system solvent even in adverse market conditions, bolstering confidence among users and investors alike.

## Governance and Initiatives within MakerDAO

At the core of MakerDAO's decentralized governance model lies the MKR token, serving as the mechanism through which stakeholders influence the protocol's parameters and direction. Let's explore the role of MKR token holders and other participants within MakerDAO.

### MKR Token Holders:

MKR token holders wield significant power within the Maker protocol. They actively participate in governance decisions, ranging from adjusting protocol parameters to voting on the distribution of surplus funds. In the event of a failure of debt repayment mechanisms, MKR token holders can mint new tokens and sell them to cover outstanding debts. However, this dilutes the ownership stake of existing MKR holders.

Additionally, in the event of system malfunctions or emergencies, MakerDAO has provisions for an emergency shutdown, ensuring the protection of user funds and the integrity of the protocol.

### Motivations and Initiatives:

MKR token holders are incentivized to manage the platform effectively, as the value of their holdings correlates with the success and stability of MakerDAO. They have a vested interest in maintaining the integrity of the protocol and making decisions that foster long-term sustainability.

Keepers, on the other hand, play a vital role in the ecosystem by executing liquidations and earning fees for their services. Users also play a crucial role by utilizing the platform for various purposes:

- Users may choose to collateralize their assets (such as ETH) rather than selling them, anticipating future appreciation in value.
- They may leverage the platform to access additional liquidity, either by minting DAI against their collateral or utilizing financial leverage to increase their exposure to assets.

###  Maintaining the DAI-USD Peg:

To ensure the stability of DAI's peg to the USD, MakerDAO implements various strategies:

- If the price of DAI exceeds $1, users can lock additional collateral to mint new DAI tokens, subsequently selling them on the market. This increases the supply of DAI, driving its price back towards $1.
- Conversely, if DAI's price falls below $1, existing users may buy DAI from the market and return it to the vault reducing the supply. MakerDAO may also increase the stability fee to incentivize users to return DAI to the vault, thereby stabilizing its price.

Through these mechanisms, MakerDAO endeavors to maintain the stability and integrity of the DAI stablecoin, ensuring its usability and reliability within the broader cryptocurrency ecosystem.

![im_5.png](https://strapi.suprabit.eu/uploads/img_5_3edbe10d03.png)

## Conclusion

In conclusion, MakerDAO pioneers decentralized finance (DeFi) with innovative stablecoin solutions and governance.
Through decentralized governance, empowered by MKR token holders, MakerDAO ensures protocol resilience. With collateralized debt positions and smart contracts, MakerDAO maintains DAI stability while fostering liquidity and risk management. Incentivizing responsible participation and upholding the DAI-USD peg, MakerDAO commits to stability and sustainability. Leading DeFi with collaboration and innovation, MakerDAO sets standards for decentralized governance and stablecoin mechanisms, shaping finance's future.

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Explore MakerDAO's impact on DeFi and stablecoins, ensuring DAI's stability and robust governance.

AI & Blockchain in 2024: Embracing the Future

Blockchain: Paving the Way for a Decentralized Tomorrow

AI: The Vast Realm of Possibilities

AI and Blockchain: The Dynamic Duo of 2024

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Smart Sensor - Case Study

Decentralized Stable Coins