Streamlining IoT-driven Data Using Blockchain

Abstract

The integration of Internet of Things (IoT) technology has revolutionized data collection and analytics, creating vast networks of interconnected devices generating large volumes of data. However, this rapid expansion of IoT ecosystems introduces significant challenges related to data security, integrity, scalability, and privacy. Blockchain technology, with its decentralized and immutable nature, emerges as a compelling solution to address these challenges. This paper explores the synergy between IoT and blockchain, examining how blockchain can streamline IoT-driven data by providing secure data exchanges, enhancing transparency, and facilitating scalability. The study investigates the key mechanisms through which blockchain can mitigate common IoT data issues. It considers blockchain's role in ensuring data integrity by utilizing cryptographic methods, enabling traceability through distributed ledgers, and protecting against unauthorized data manipulation. Furthermore, it explores the potential of blockchain-based smart contracts to automate processes and improve interoperability among IoT devices. The paper delves into specific use cases, such as smart cities, demonstrating how blockchain can effectively streamline IoT data across various industries. The findings highlight that while blockchain offers substantial benefits, it also introduces unique challenges, including high energy consumption, latency concerns, and complex integration processes. This concludes with a discussion of Security concerns, Comparison with existing solutions. By addressing these challenges, blockchain can become a pivotal technology in streamlining IoT-driven data, paving the way for more secure, efficient, and trustworthy IoT ecosystems.