The rise of smart technologies in various domains such as homes, cities, and other interconnected systems has propelled the Internet of Things (IoT) into a realm of immense influence, potential, and expansion. Cisco Inc. has forecasted a staggering 50 billion connected devices by 2020, underscoring the rapid proliferation of IoT. Despite this growth, a significant concern looms over the security of these IoT devices, as many are susceptible to hacking and compromise. Their limited computational, storage, and networking capabilities render them more vulnerable compared to traditional endpoint devices like smartphones, tablets, and computers.This paper examines and categorizes the major security challenges facing IoT devices. It reviews prevalent security issues within the layered architecture of IoT, encompassing networking, communication, and management protocols. The paper also delineates the security prerequisites for IoT and surveys current attacks, threats, and state-of-the-art solutions. Additionally, it presents a comparative analysis of IoT security challenges and existing solutions found in the literature.Furthermore, the paper delves into the potential of blockchain, the foundational technology behind bitcoin, as a pivotal tool for addressing numerous security issues in IoT. It discusses how blockchain can enhance security in IoT ecosystems. The paper concludes by outlining open research problems and ongoing challenges in IoT security, underscoring the need for continued innovation in this domain.
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