A Comprehensive Report on Blockchain Technology, Its Applications, and Open Research Challenges
Shilpi Garg, Rajesh Kumar Kaushal, Naveen Kumar · 2022
The IoT is a vast technology that allows communication between billions of devices worldwide. The massive amount of data produced by these sensors must be controlled in a secure manner. The centralized solutions are not suitable for these concerns due to security challenges and scalability problems. Thus, blockchain technology is an effective solution, and the “distributed” method has been engaged to overcome these issues to allow for entirely secure communication among devices. Blockchain is an encrypted, distributed, and immutable ledger technology. The main objective of this chapter is to present the state of art of blockchain technology in IoT environment. Integration of Blockchain technology with IoT also produces some challenges like scalability, throughput, and power consumption. The search terms like IoT, Blockchain, Blockchain and IoT issues, Blockchain and IoT applications has been used. After exclusion 40 papers were included for this study. The ramifications of this study is that it will absolutely help the scholars and academician to understand the approach of Blockchain in IoT environment and gives useful insights for improvements of blockchain based IoT ecosystem by integrating other technologies such as artificial intelligence, big data and cloud computing.