Role of Blockchain in IoT Security
Tasneem Jahan, Imran Ali Khan · River Publishers eBooks · 2022
This chapter covers the working of Blockchain, along with its advantages and disadvantages. It discusses examples of Blockchain in Internet of Things (IoT) applications, security aspects of Blockchain, and Blockchain in business. In an IoT network, the Blockchain can keep an immutable record of the history of smart devices. This feature enables the autonomous functioning of smart devices without the need for centralized authority. The concept of BitCoin is mostly derived from the most promising feature of Blockchain, which is decentralization of verification of transactions along with suitable cryptographic procedures. Payment of transaction fees is optional to transactions. The present-day IoT solutions are expensive because of the high infrastructure and maintenance cost associated with centralized clouds, large server farms, and networking equipment. Establishing a peer-to-peer communication model presents a few challenges, but it has emerged out to be a suitable solution to maintain secured data transactions in huge IoT networks.