Five IoT Blockchain Tokens Worth Your Attention in 2024

The convergence of blockchain technology and Internet of Things (IoT) is reshaping the tech landscape. While many dismiss this intersection as hype, the numbers tell a different story. MarketsandMarkets projects the blockchain IoT market will balloon from $258 million in 2020 to $2.4 billion by 2026—that’s a 45% CAGR. Here’s what you need to know about the projects leading this charge.

Why Blockchain Matters for IoT

Before diving into the players, let’s cut through the noise. Why does blockchain actually matter for IoT networks? Three reasons stand out:

First, it solves the trust problem. Connected devices exchanging value and data need ironclad security—blockchain delivers that through immutability and encryption. Second, it enables true decentralization. Devices can communicate and transact without relying on a central authority, making systems more resilient. Third, it unlocks new economics. Micropayments between machines become feasible, automating everything from supply chain verification to real-time energy trading.

Smart contracts amplify this potential, turning IoT networks into self-executing ecosystems where transactions happen automatically, without intermediaries.

The Top 5 Players Reshaping IoT Blockchain

VeChain (VET): Supply Chain’s Backbone

VeChain pioneered blockchain-based supply chain tracking. Its dual-token model—VET for transactions and VTHO for network fees—ensures predictable costs. The platform combines distributed ledger technology with proprietary smart chip integration to track products from factory to customer.

Real-world validation matters: Walmart China and BMW use VeChain. That’s not hype—it’s industrial-grade adoption. The challenge? Scaling across industries beyond supply chain. VET’s upside hinges on whether enterprises embrace blockchain as standard supply chain infrastructure.

Helium (HNT): Building the Wireless Layer

Helium takes a different angle. Instead of focusing on transactions, it’s building decentralized wireless infrastructure for IoT devices. HNT holders operate network nodes, earning rewards for providing coverage and relaying device data.

The secret sauce is LongFi—a custom wireless protocol layered on blockchain that delivers long-range, low-power coverage at fraction of traditional costs. Partnerships with Lime and Salesforce signal real momentum, particularly in smart city projects. The bottleneck? Scaling network security while maintaining reliability. But if cities accelerate smart infrastructure rollouts, HNT’s growth trajectory could be steep.

Fetch.AI (FET): Autonomous Agents at Scale

Fetch.AI merges AI with blockchain—autonomous economic agents that handle data sharing and decision-making without human intervention. It’s an ambitious play: train these agents to solve real-world problems in transportation, supply chains, and energy markets.

FET tokens power agent deployment and transactions within the ecosystem. The potential is massive; the execution risk is equally high. Making AI and blockchain work together at scale in production environments remains largely theoretical.

IOTA (IOTA): The DAG Alternative

IOTA challenges blockchain orthodoxy. Instead of traditional blockchain architecture, it uses Tangle—a Directed Acyclic Graph (DAG) designed specifically for IoT constraints: scalability, minimal energy consumption, and handling millions of microtransactions.

This matters because most IoT devices need to execute countless tiny transactions. Traditional blockchains choke on this. IOTA’s feeless model and machine-to-machine transaction focus position it well for massive device networks. Bosch, Volkswagen, and Taiwan’s smart city initiatives validate the approach. But IOTA’s non-blockchain structure creates skepticism, and achieving mainstream adoption remains the primary hurdle.

JasmyCoin (JASMY): Data as Utility

Jasmy tackles a different angle: data sovereignty. The platform lets IoT devices share data securely while compensating users for their information. JASMY tokens secure these transactions and compensate network participants.

Advanced encryption ensures privacy. The pitch resonates—data ownership is increasingly valuable. But as a newer entrant competing against well-funded rivals, Jasmy faces an uphill battle. Growth depends on forging enterprise partnerships and adapting as IoT use cases evolve.

The Hard Truths: Challenges Nobody Wants to Discuss

Integration of blockchain and IoT sounds seamless in whitepapers. Reality is messier:

Scalability remains the elephant in the room. Bitcoin handles ~7 transactions per second. Large IoT networks generate orders of magnitude more. While Ethereum’s transition to Ethereum 2.0 and innovations like sharding promise improvements, the scaling problem isn’t solved yet.

Integration complexity is underestimated. IoT devices vary wildly in capabilities, protocols, and standards. Building a one-size-fits-all blockchain solution is like herding cats. This fragmentation slows mainstream adoption.

Security is still a concern. Yes, blockchain enhances security, but IoT devices themselves are vulnerable to physical tampering and cyberattacks. End-to-end security in massive distributed networks is genuinely hard.

Costs add up fast. Energy-intensive blockchains (especially proof-of-work systems) aren’t cheap to operate. IoT’s scale means millions of transactions—and millions in operational costs. Cheaper alternatives like proof-of-stake are emerging, but adoption takes time.

Where This Is Heading

Despite the headwinds, the trajectory is clear. Expect three major developments:

Scalability solutions will mature. Sharding, layer-2 protocols, and efficient consensus mechanisms are already in development. These won’t solve everything, but they’ll make blockchain-IoT more viable.

Security frameworks will tighten. More sophisticated protocols tailored for IoT edge cases will emerge, bundled with hardened hardware.

Automation and efficiency gains will drive adoption. Smart contracts automating supply chain workflows, utilities billing, and device coordination eliminate intermediaries and reduce friction. When enterprises see tangible cost savings, adoption accelerates.

The Bottom Line

The $2.4 billion blockchain-IoT market by 2026 isn’t science fiction—it’s projection. The five projects above represent different bets on how this future unfolds. VeChain owns supply chain; Helium is building infrastructure; Fetch.AI is pushing AI integration; IOTA solved the scalability angle differently; Jasmy is betting on data as a utility.

Not all will succeed. Technology moats matter, but so do adoption curves and market timing. The winners will be those that solve real enterprise problems at scale while keeping costs manageable.

Watch these projects. The blockchain-IoT convergence isn’t just reshaping how devices communicate—it’s redefining value exchange in a connected world.