Usability of Blockchain in Internet of Things

Abstract

Internet of things commonly known as IoT is a technology that is helping in making life easier. It basically means connecting various devices that perform a specific task together on a network so that the devices can be accessed much more easily, and their accessibility can increase, though with the increase in technology, problems in IoT arise. Concerns like data security, access management and scalability arise. In this study, we identify those problems and see how using blockchain, the technology behind all cryptocurrency and being a distributed ledger with features like immutability on a distributed network these problems can be tackled. A single point of failure is created by the server/client model, which mandates that all devices connect to and are authenticated by the server. Therefore, it might be best to decentralize the Internet of Things system. One of the most common decentralized technologies is blockchain. The Blockchain is a potent technology that decentralizes administration and computation processes, which can address many IoT problems, particularly security. We come to the conclusion that combining blockchain and IoT can result in a potent strategy that can greatly open the door for new business models and distributed applications.