Exploring blockchain solutions: Integrating cryptocurrency with IoT for enhanced security
M Shravan, Shital Kakad, Umar M Mulani, Geeti Sharma, Mohit Tiwari, Mary Shiba C · 2025
Blockchain, initially developed as the underlying technology for Bitcoin, has garnered significant attention for its applications beyond cryptocurrency, particularly in complex non-monetary domains. Utilizing cryptographic methods like hashing and asymmetric encryption, combined with a distributed consensus model, Blockchain-based ledgers achieve high levels of security and immutability, effectively removing the need for third-party intermediaries. Meanwhile, the rapid growth in Internet of Things (IoT) devices being connected to networks raises substantial concerns around security and privacy. Addressing these security challenges is essential for the expanding IoT landscape. This paper explores the blockchain solution by integrating cryptocurrency with IoT for enhanced security, reviewing recent studies and applications to evaluate Blockchain's role in IoT security, pinpoint challenges, and propose Blockchain-driven solutions to improve security in the IoT ecosystem.