The blockchain and the IoT have immense potential, and professionals are already working to combine these technologies. This merger can enhance data security within IoT networks & support various IoT solutions.
Here’s how blockchain features can be used to enhance IoT networks:
Why do IoT networks need blockchains?
The concept of an IoT network is that smart devices gather data about the environment, wirelessly connect to the internet and other devices via gateways & routers, & share the data collected within a network.
In addition, remote devices with user interfaces control IoT devices while transmitting data to users. In this IoT network, the data flows between IoT devices & can be stored on the cloud, local database, remote device, or IoT devices.
Applications of IoT:
IoT is used in workplaces, public spaces, streets, or at home, facilitating smart home systems, security systems, smart city infrastructure, etc. IoT devices are widely used in healthcare, manufacturing, construction, agriculture, & other industries. Wireless connections make IoT technology easy to implement for home & business usage.
Benefits of integrating a blockchain into an IoT network:
Data decentralization
The distributed architecture of blockchain means there’s no central point of control. This eliminates single points of attack or failure, reducing infrastructure, reconciliation, & management while improving fault tolerance. The nodes in a blockchain network manage the distributed digital ledger and confirm new blocks.
Improved system scalability
While reducing IoT silos, blockchain IoT integration contributes to improved scalability. Decentralized networks distribute workloads over devices and provide more computing power than centralized networks.
Guaranteed data stability
The data stability in a blockchain is ensured with cryptography that makes the distributed ledger permanent and unalterable. Added cryptography to smart devices provides secure data transfer & storage. A blockchain can keep a stable history of device communications within a specific IoT network.
Stronger authentication
With a blockchain, every IoT device can be identified. A blockchain can ensure trusted authentication & authorization for smart devices, which means all data within the IoT network will be secured. The private key remains with the user and is used to prove their identity, while the public key is distributed to the network provider.
Enhanced privacy & security
Blockchain secures communication between IoT devices by storing data in transactions & validates those transactions with nodes. This ensures traceability & accountability of sensor data. By using cryptography for communications, blockchain eliminates the risks of data breaches.
Improved data management
A blockchain facilitates IoT devices to communicate without involving a server, cloud storage, or other local databases. IoT developers can use blockchains to provide device-agnostic & decoupled applications.
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