The Convergence of IoT and Blockchain
The Convergence of IoT and Blockchain
INTRODUCTION.
The concept “Internet of things” generally refers to connecting things
with the internet. These devices ranges from household appliances to the
sophisticated tool used in industrial processes, thus making them able to
send and receive data through the internet. This architecture is built with
the help of sensors that collect data from the surroundings, which is
processed by the microcontroller, and then according to that control
signals are passed to the interconnected things. Although this cutting edge
technology provide enormous benefits but at the same time there are
some challenges which needs to be addressed.
Another cutting edge technology which need to be discussed here is
Blockchain. It is a distributed database of records which are called
blocks. Each block contains the record of all the transactions that have
been executed and shared among peers and are encrypted by
cryptographic hash. Each transaction is verified by all the participants and
then added in the block. The main advantage of Blockchain over the
conventional client/server architecture is that the records of transactions
is difficult (nearly impossible) to alter or temper.
IoT and Blockchain are cutting edge technologies that plays an important
role in shaping the future of mankind. While both offer numerous
benefits, these technologies also come with certain limitations as well.
Combining both technologies can overcome these limitations.
LITERATURE REVIEW
The creator of Bitcoin, Satoshi Nakamoto[1] described Blockchain
technology as “Peer-to-peer structure” that can create trust between
sender and receiver in a trustless environment. The Bitcoin commands are
grouped into a structure called block. Each block will be connected to the
previous one by keeping the cryptographic hash of the previous
transaction and the public key of next owner. Each time a transaction is
made the digital signature will be passed to next owner. The nodes in
Blockchain which have high computational capabilities and can operate
complex task are called miners. The hash assigned to a block will be
verified by all the blocks. Once hash is verified, the block will be added
to Blockchain. This is known as consensus mechanism. Block hash
represent the work done by the miners and is called proof-of work. [2]
The term “Internet of things” generally refers to connecting things with
the internet. These devices ranges from household appliances to the
sophisticated tool used in industrial processes, thus making them able to
send and receive data through the internet. This architecture is built with
the help of sensors that collect data from the surroundings, which is
processed by the microcontroller, and then according to that control
signals are passed to the interconnected things. Although this cutting edge
technology provide enormous benefits but at the same time there are
some challenges which needs to be addressed.Despite the benefits
provided by these services, critical privacy issues still exist. The
connected devices transmit the personal information which reveals the
personal preferences and behavior. This making the data vulnerable to
any kind of misuse.
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