Abstract
Blockchain (BC), a by-product of Bitcoin cryptocurrency, has gained immense and wide scale popularity for its applicability in various diverse domains – especially in multifaceted non-monetary systems. By adopting cryptographic techniques such as hashing and asymmetric encryption - along with distributed consensus approach, a Blockchain based distributed ledger not only becomes highly secure but also immutable and thus eliminates the need for any third-party intermediators. On the contrary, innumerable IoT (Internet of Things) devices are increasingly being added to the network. This phenomenon poses higher risk in terms of security and privacy. It is thus extremely important to address the security aspects of the growing IoT ecosystem. This paper explores the applicability of BC for ensuring enhanced security and privacy in the IoT ecosystem. Recent research articles and projects/applications were surveyed to assess the implementation of BC for IoT Security and identify associated challenges and propose solutions for BC enabled enhanced security for the IoT ecosystem.
Highlights
The primary aims of this article is to conduct a detailed study exploring how Blockchain technologies can be utilised in enhancing the overall security of the Internet of Things (IoT) ecosystems and to foresee the future of Blockchain of Things (BCoT) fusion
To understand how Blockchain can be applied for enhancing IoT security, it is very important to understand how these two technologies are put into function
To answer the research question “To what extent can the Blockchain be used in enhancing the overall security of the Internet of Things (IoT) ecosystems?”, this paper first introduced how these two emerging technologies work
Summary
The primary aims of this article is to conduct a detailed study exploring how (and to what extent) Blockchain technologies can be utilised in enhancing the overall security of the Internet of Things (IoT) ecosystems and to foresee the future of Blockchain of Things (BCoT) fusion. Considering the fact that the Blockchain is comparatively an avant-garde technology, this paper presents a representative sample of research conducted in the last ten years, commencing with the early work in this domain. AETiC 2020, Vol 4, No 4 algorithm based on mainly solving a mathematical challenge, is the major method to assure the security aspects of the BC by recording and maintaining a complete digital ledger of all the completed transactions. Implementation of a blockchain may be seen as a six-layer hierarchical model [9], as shown in Fig. 2, below
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