Integrating blockchain with IoT: Evaluating the feasibility of lightweight Bitcoin wallets on resource-constrained devices

Abstract

The integration of blockchain technology with IoT architectures holds immense potential for advancing application design and enhancing security properties. However, the resource constraints typically present in IoT devices pose a challenge. This paper explores the feasibility of running a lightweight Bitcoin wallet on IoT devices and identifies the minimum requirements for their successful operation. A review of the literature is used to identify existing integration architectures and derive the wallet needs. The study evaluates performance metrics such as execution time, memory usage, network data transmission, and power consumption to determine the feasibility of deploying these architectures.