Internet of Things and Blockchain
Ansh Riyal, Parth Sarthi Prasad, Deepak Kumar Sharma · 2021
The Internet of Things has thriving applications in several fields of technology, including ubiquitous computing in health care, industrial, and lifestyle applications. The IoT has been gaining in popularity by virtue of being a crucial standard for low-power lossy networks, under constrained resources. On the flip side, this technology faces two major hurdles: security and privacy. Blockchain is simply a public, permanent, and append-only ledger. This protocol relies on a cryptographic signature, making it safe and guaranteeing its authenticity and identity. Hence, it presents a decentralized model of data security. Blockchain has come to be utilized in various fields, as in the adoption of cryptocurrency, such as Bitcoin, where transactions are encoded and then divided into the system, to be kept by each participant. In this chapter, we strive to give a detailed introduction to the convergence of blockchain with the IoT. With the help of some proposed models, we explain the basic concepts, terminologies, and internal workings. We also highlight present challenges to the domain, the scope of future research, and the development of existing technologies.