Application of Blockchain Technology in an IoT-Integrated Framework

Abstract

The IoT is a current technology that has the ability to interconnect the embedded devices and merge the sensors and wireless networks to communicate and exchange data with one another via the internet. Building and automation, healthcare, monitoring, agriculture, etc. are applications of IoT. Currently, with the rapid increase of IoT applications, we created an environment for device-to-device interconnections, new business models, where these interconnected devices accumulate, process, and share the data with each other. Data integrity or ownership issues, cyber-attacks, single point of failure, etc. are some of the limitations of current IoT solutions. Blockchain technology or a distributed ledger technology has the potential to greatly enhance the security aspect, privacy, and reliability concern of the data. High efficiency, transparency, low cost, and no third-party interventions make this technology a one-stop solution for limitations to integrated IoT devices.