Futuristic Challenges in Blockchain Technologies
Arun Kumar Singh, Sandeep Saxena, Ashish Tripathi, Arjun Singh, Shrikant Tiwari · 2023
Internet of Things (IoT)-based services have grown rapidly worldwide, and IoT is evolving at a very fast pace in industry and research, yet it is still not able to address privacy and security vulnerabilities, although traditional security and secrecy approaches are inappropriate due to lack of decentralized and resource limitation for most of their devices. Blockchain technology has recently come into focus to support the infrastructure for Bitcoin transactions. It also offers security and privacy in peer-to-peer networks, including an inventory along with a decentralized ledger, connected blocks of transactions, and additional transactions, as contrasted with addresses to operational data in the network that are distributed in a blockchain-like way. For documents enabling micro-payments or agreeing devices, decentralized blockchain renders it more secure and resistant to a single point failure than a conventional process. IoT devices have become a big part of our daily lives, such as smart home devices, smartphones, and internet-enabled gadgets for humans. Now, the security of the latest trending IoT devices has become one of the major concerns of the IT industry. In this chapter, we will discuss the latest challenges in blockchain and IoT technology. New IoT technology is being employed in a wide range of industries, from the home to healthcare, telecommunications, and energy to the environment, manufacturing, and construction. Security is becoming more important for IoT systems because of the exchange of personal data produced by sensors and the ability to combine real and virtual worlds. It is also necessary to use strategies that are not too heavy to protect IoT devices. This paper's purpose, thus, is to highlight the security difficulties and critical concerns that are anticipated to develop in the IoT environment in order to guide authentication procedures to provide a safe IoT service.