Abstract
Blockchain technology, which would be the underlying technology, has recently become very popular with the increase in cryptocurrencies and is being used in IoT and other fields. There have been shortfalls, however, which impede its implementation, including the volume of space. Transactions will be produced at a significant level due to the huge amount of Connected systems that often work in many networks as data processors. In IoT, the storage issue will become more intense. Current storing data platforms have a wide range of features to respond to an extensive variety spectrum of uses. Nevertheless, new groups of systems have arisen, e.g., blockchain with data version control, fork semantics, tamper-evidence or some variation thereof, and distributed analysis. They're showing new challenges for storage solutions to effectively serve such energy storage Systems by integrating the criteria mentioned in the processing. This paper discusses the potential security and privacy concerns of IoT applications and also it is shown that in first step the storage is enhanced by 50% and further in the next step, it is improved and it takes only 256 bytes irrespective of the input data size.
Highlights
The user interface for the cryptocurrency is BLOCKCHAIN
At present, owing to its unique characteristics such as decentralization, untraceability, confidentiality, and security, a vast amount of research is based upon the applications of blockchain to banking, healthcare, education, IoT (Internet of Things), and other sectors
In spite of the fact that this arrangement may work appropriately these days, the normal development recommends that new ideal models should be proposed. Among such recommendations, decentralized structures were proposed in the past to make huge Peerto-Peer (P2P) Wireless Sensor Networks (WSNs), yet a few pieces were absent corresponding to protection and security until the appearance of blockchain innovation
Summary
As described by Bitcoin, Blockchain initially emerged in 2008 This was introduced by Nakamoto [1] and the definition thereof is a form of the ledger to record the transactions. In certain IoT network that uses blockchain infrastructure, because of the constraint of IoT devices, they will often not become a peer in blockchain, but instead, create a link with a particular platform or server. At this stage, the linked server will act as a node, and the focus is passed to the subsequent server to store the full blockchain database. A significant number of Connected devices create transfers at a significant level, making the volume of transactions enormous
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
