Comprehensive Analysis of Blockchain Frameworks and Their Usability in Various Applications

Abstract

The proliferation of Internet of Things (IoT) devices has led to an exponential increase in the volume of data generated, necessitating the development of secure, scalable, and decentralized systems for data management and communication. Blockchain, as a distributed ledger technology, has gained attention as a potential solution to the challenges faced by IoT applications. However, the selection of a blockchain framework for a specific IoT use case can be challenging due to the availability of multiple frameworks with distinctive features and characteristics. This chapter aims to provide a comprehensive overview of the most widely used blockchain frameworks, including Ethereum, Hyperledger Fabric, Corda, Quorum, and IOTA, and to evaluate their suitability for IoT applications based on various criteria, such as scalability, interoperability, consensus mechanism, and security. We also provide an analysis of the strengths and limitations of each framework in the context of IoT.