Wallance, an Alternative to Blockchain for IoT

Abstract

Since the expansion of the Internet of Things (IoT), connected devices became smart and autonomous. Their exponentially increasing number and their use in many application domains result in a huge potential of cybersecurity threats. Taking into account the evolution of the IoT, security and interoperability are the main challenges, to ensure the reliability of the information. The blockchain technology provides a new approach to handle the trust in a decentralized network. However, current blockchain implementations cannot be used in the IoT domain because of their huge need for computing power and storage utilization. This paper provides a lightweight distributed ledger protocol dedicated to the IoT application, reducing the computing power and storage utilization, handling the scalability and ensuring the reliability of the information.