Emergence of Blockchain Technology

Abstract

The Internet of Things (IoT) is dominating every aspect of life. Smart homes, security systems, industrial automation, smart and intelligent power grids, etc. are important implementations of the IoT. It is an impactful addition to information and communication technology. As the IoT rises to the top, several issues emerge. Security, privacy, and vulnerability issues need to be addressed, to secure future IoT advancements. Blockchain technology is another tremendous addition to modern technology. Its decentralized architecture, distributed ledger, and cryptographic protection make this technology a potential integration element with other technologies, such as the IoT. Blockchain-enabled solutions for various IoT issues are the main aspect of this work. This chapter presents blockchain fundamentals and principles in detail, including blockchain-based IoT security solutions, with a comprehensive overview of the IoT architecture and its potential categorized security issues. The main motivation is to integrate blockchain in leveraging the issues of the IoT, as well as point out future research trends.