The Internet of Things is the backbone of technology these days. It makes the world smart with various applications, devices, and online platforms. But, as nothing comes with perfection, IoT applications have certain loopholes.
IoT strives towards instilling various smart features into technologies belonging to multiple sectors. But, IoT has concerns about scalability, security, privacy, interoperability, and trustworthiness. Hence, blockchain comes to the rescue to outwit the drawbacks of the Internet of Things.
Blockchain technology consists of a distributed ledger. It brings into action an extensive database with advanced computational features. It allows many users to access the database.
The database is on servers involving ample storage space and computational technologies.
These features of blockchain make it the most appropriate technology to fill the gaps in IoT. Hence, let us look at blockchain implementation in IoT and how they work as a pair.
Before we jump to the real-life applications of blockchain in IoT, let us glance at blockchain. It has features that play vital roles in erasing the drawbacks of IoT.
Interoperability is an essential feature that runs IoT devices and applications. It allows various components of the IoT network to communicate.
But, some IoT applications need to gain interoperability to the required level. It causes issues with the communication of various devices in IoT. Blockchain has a cure for this problem. It implements its advanced communication ability between different blockchains.
Such communication between different blockchains in a network stands as cross-chain communication. Cross-chain communication allows integration with existing systems and apps on the same chain. It does so while initiating and conducting transactions with other chains and networks. It enhances the interoperability between the IoT components. They can communicate with high efficiency.
The orchestration of IoT devices decides their efficiency. It is the way various components arrange to maximize the coordination between them. But, the orchestration of IoT devices comes with flaws. There are drawbacks to data security and threat to their identity.
It is where Blockchain comes into action. It facilitates the way various IoT devices coordinate with each other. Moreover, it smoothens the way smart contracts work in IoT. The mechanism includes data transfer management within the network, dynamic positioning, and data development.
High scalability is an essential feature for all IoT applications and devices. But it is only sometimes possible for IoT applications to maintain high scalability.
IoT networks consisting of many devices tend to be slow and make them costly. They include millions of transaction verifications and authentications. It contributes to the delayed response of the network, thus reducing scalability.
But, Blockchain has a mechanism to enhance the scalability of IoT networks. It employs consensus, which speeds up the process. It processes the transactions from a centralized to a P2P distributed network. This eliminates issues associated with centralization.
A decentralized system of transactions causes fewer failures. It also enhances the scalability of IoT networks.
Threats to data privacy and security are a huge concern in IoT. It relates to the data stored in IoT devices and applications. IoT devices collect and store large chunks of data received from sensors. The data is under contact risk of security breaches.
Blockchain technology is a major contributor to the security of data in IoT devices. It employs various approaches to do so. The pseudonyms approach is one of them. It preserves privacy by not linking the transactions to the users’ real identities.
Public blockchain and private blockchain are the two mechanisms of blockchain. They work in different manners to decide the accessibility of data. Public blockchains are open to all IoT users. They can join the network at any point. Private blockchains have limited access and include the gatekeeper mechanism.
Both types of blockchain technologies tighten the security of IoT devices. They maintain the anonymity of the users associated with them. There are many examples of blockchain and Internet of Things working together toward data privacy. Some are commitment plans, ring signatures, zero information checks, multiparty computing, etc.
Now you know how blockchain technology impacts the Internet of Things. It is time to glance at some real-life applications of the two technologies doing wonders.
Smart transportation is a living example of the Internet of Things. It facilitates transportation through enhanced connectivity between vehicles. Smart transportation systems improve the transportation system’s security, sustainability, and performance.
It makes the tracking of vehicles and routes easier. This caters to emergency needs and helps find the best and safest route. But vehicles connected via software are also prone to security breaches. It can make the people traveling vulnerable.
These issues are at the mercy of blockchain technology. It implements its full privacy and security feature. It makes transportation connectivity safe by enhancing traceability. This allows smart transportation systems to work the way they should.
Smart city is a slogan throughout the world, and the Internet of Things is the backbone of it. It aims to simplify the issues people face in a city by implementing the ICT mechanism. But privacy protection is also a major concern associated with maintaining a smart city.
Blockchain technology uses the decentralization of databases. It makes the network of interconnected cities secure and private. It employs several features to do so. Some examples are asymmetric encryption, smart agreements, differential privacy, and lightweight privacy security. Smart contracts also play a vital role in smart cities. They work as a mechanism to tighten security.
Besides protecting privacy, blockchain helps maintain a secure voting system. Voting system, which is vital in smart cities. Thus, it makes the electoral system fair.
Smart grids and utilities aim to ease the power distribution system. It works towards enhancing electricity output. Smart grids also consist of several power plants interconnected. It forms a distribution line that enhances the services offered to end-users.
But data privacy and protection risk also prevail in the smart grid and utilities. It is because they store a large amount of data. Blockchain technology outwits these issues with a decentralized framework. It promises stability and confidentiality.
Smart city employs cryptographic securitization along with the consensus approach. It prevents the immutability of the data collected from electricity transactions. This makes a smart grid with increased transparency, efficiency, scalability, and resilience. Hence, there are rare chances of malicious attacks concerning with power supply sector.
Blockchain also plays a significant role in maintaining smart healthcare. These smart devices use sensors to record data from a patient’s body for medical diagnosis.
Smart healthcare technology facilitates the medical examination processes. It keeps the patient in constant contact with the doctor. But the data collected is at a huge risk of cyber-attacks.
Blockchain provides a safe storage space for the medical records of patients. It also includes features for maintaining a secret password. It keeps a patient’s medical history in order so the doctors can use it later for future medical purposes.
Read: Use of IoT in education
The Internet of Things and Blockchain are remarkable technologies in today’s era. IoT strives to make the world a smart place to live in using various IoT devices and applications. But it resides in a loop of security threats and lack of scalability. Poor interoperability and orchestration among various IoT devices are also an issue. But blockchain comes with a solution to all problems related to IoT. It implements its decentralized database feature. Decentralization ensures the smooth functioning of various IoT applications.
Did you know that more than 46% of cyberattacks are directed at companies with fewer than 1000…
Digitalization has both pros and cons. However, one of the major disadvantages that each of…
The concept of machine learning is completely changing the world and revolutionizing various sectors. But…
Did you know that in the year 2023, around 353 million faced digital breaches that could potentially…
How safe is your internet browsing experience? In a world where cyberattacks have become common,…
With the penetration of cyber threats every minute, cybersecurity has become critical in the personal…
TheEncrypt uses cookies.