How blockchain is a game-changer technology for ‘Internet of Things’?

Introduction

In the current era of Industry Revolution 4.0, the ‘Internet of Things’ (IoT) is going to influence almost all day-to-day activities. However, the increasing inclusion of IoT in our lifestyle leads to an increasing threat of being misused. Thus, there is an urgent need to secure IoT devices from cyber threats that can protect homes’ and businesses’ data from being transformed, exposed, and misused. There is a wide range of technologies existing in the market to incorporate IoT security but the blockchain is an emerging solution. It is potent to create more secure IoT systems in the upcoming time.

What is Blockchain?

Blockchain is the technology to record information as a digital ledger of transactions that is duplicated and distributed across a network of computer systems. It is a shared and immutable ledger to facilitate the process of recording and tracking transactions and assets respectively throughout the network. Along with this, it binds the data with a very strong crypto mechanism that is not easy to be tracked or tampered with by illegitimate users.

How it is a game-changer for IoT security?

IoT is a loosely coupled system of multiple heterogeneous and homogenous devices with the power to sense, process, and network capabilities. Blockchain can transform the security aspects of IoT in the following three patterns:

User Authentication

The sender will sign the message before sending them to other devices and the receiver devices get the public key from the ledger to verify the digital signature of the received message. The digital signature works as

Blockchain Security

Use Case

For an instance, blockchain can secure the IoT network through a decentralized system with a single authority that can approve any transaction. Each device of the network will have a copy of the growing chain of data. Whenever any device will try to access the data, then all the members of the network must validate it first. After data access request validation, the user performed transaction will be stored in a block and sent to all the nodes across the network. It will make sure that IoT system is secure from unauthorized access and security breaches.

Conclusion

In conclusion, it has been identified that blockchain technology can incorporate a more secure and entrusted IoT model with high-end hardware requirements. IoT is not going to be a full member of the blockchain network but IoT is going to be benefitted definitely from the functionalities of blockchain through offered APIs by the nodes of the network. It can ensure more secure data transmission between interconnected devices of IoT network. Thus, blockchain is proposed as an emergent solution for IoT security.

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IOTric

IOTric

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IOTric is a leading Blockchain, Mobile, Web application, AR/VR, IoT, and Custom Software Development Company.