Security Concerns and Privacy Preservation in Blockchain based IoT Systems: Opportunities and Challenges

Abstract

Blockchain is a decentralized network consisting of peer-to-peer nodes which perform all the operations within a network without the need of a central authority unlike IoT where information exchange, validation and authentication of data is done using a central authority. The trivial security and privacy protocols in place for IoT suffer due to the decentralization and limited resource capabilities of IoT devices. Blockchain in IoT with its cryptographic functions and decentralized nature could prove significantly useful. This paper discusses the motivation for IoT using Blockchain, the attacks and challenges in Blockchain, the challenges in the integration of Blockchain in IoT and the opportunities of such an integration. Some applications of Blockchain in IoT are also discussed to provide an insight into the future prospect of this integrated technology.