Development of a Cryptocurrency IoT wallet with Automatic Authentication

Abstract

The paper studies a practical implementation of Internet of Things device personalization. The solution of this problem greatly contributes to the creation of a system of devices that exchange trusted data. A fundamental architecture for a new information system that implements crypto wallets with automatic authentication of IoT devices, is proposed. The architecture provides a secure method of wallet initiation on a device. Internet of Things poses significant restrictions on hardware and software. The main problems are ensuring communication between IoT devices, optimizing the energy consumption of devices and small processing power. Changes in existing libraries and program code were required to implement the IoT wallet. The presence of a wallet makes it possible for the device to buy or sell data for crypto coins, for example, temperature readings of a video feed. This will contribute to the emergence of a new economic model in which the data collected is sold, not the devices themselves. Where seller IoT device transfers impersonal data to the customer and other IoT device validates integrity of data that is transferred. Based on integrous of data and its relevance other IoT device rates the seller and data costs.