Role of Distributed Ledger Technology (DLT) to Enhance Resiliency in Internet of Things (IoT) Ecosystem

Abstract

So far Internet has connected humans and now with technological advancements it is inter connecting `Things'. With more globalization and technological advancement, The Internet of Things (IoT) has been matured into self sustaining and evolving technology that has the capacity to change the way how physical and cyber worlds interact. We can also say IoT is about anything that can connect everything. With Involvement of Global Corporations, new IoT-based systems are being proposed in almost every sector which humans have so far envisioned. The thoughts (or Science Fiction) which was once fictional and unbelievable are becoming reality, whatever we desire will be available at touch of our finger someday. Mankind is moving fast towards connected future, where not only autonomous vehicles but entire cities infrastructure will be completely internet connected to support rapid urbanization. To reap the full benefit of IoT, it is imperative that the infrastructure we depend upon is adequate to deliver the services envisioned and has the necessary resilience, robustness and security. IoT can be described as an large scale, heterogeneous, ultra-complex Ecosystem acting as bridge between cyber and physical worlds. Recently, the Distributed Ledger Technology (Blockchain and Block less-different implementation of Data Structures with cryptographic algorithmic functions) has gained much attention in IoT solutions from security perspective. In This Research Paper we have explained the concepts about the functioning of Distributed Ledger Technology with focus on how it can provide security (for System Resiliency) in IoT Ecosystem.