Blockchain and the Internet of Things

Abstract

This chapter focuses on the synergies between blockchain and the Internet of Things (IoT) paradigm. We begin by describing the IoT and the technology at its foundations. We also present some of the application domains that typically benefit from IoT-based solutions. We then discuss how the blockchain is beneficial for addressing some of the open issues in the IoT and which new challenges this synergy poses. Then, we introduce IOTA, a blockchain specifically designed for the IoT. We conclude the chapter by discussing how and to which extent IOTA, Bitcoin, Ethereum, and Hyperledger Fabric can address the challenges of the IoT. Finally, a case study focuses on trusted artifact-driven process monitoring, a technique that exploits blockchain and the IoT to monitor inter-organizational business processes.