Blockchain Empowering Internet of Things: A Comprehensive Analysis of Applications and Security Challenges

https://doi.org/10.46610/RRECE.2024.v01i01.002

Abstract

An accessible, dependable, and secure infrastructure is necessary to manage the ever-increasing amount of processed data, which is being driven by the proliferation of Internet of Things (IoT) devices in society. There is a risk of single-point failures in the current IoT model because it depends on a central cloud server. One solution to this problem is the increasing popularity of combining Blockchain Technology (BCT) with the IoT. This takes advantage of the decentralized structure of Blockchain (BC) networks. IoT security has been greatly enhanced by this merger. A comprehensive analysis of Blockchain-based Internet of Things (BC-IoT) applications and the security risks they pose is provided in this study. It examines the IoT and BCT side by side, using well-structured and efficient scholarly literature to classify blockchain-based IoT applications in many different industries, such as manufacturing, healthcare, transportation, supply chain management, and ad hoc Vehicle Networks (VANET). In addition, the article discusses the shortcomings of BCT as it pertains to the IoT and the security concerns surrounding applications built on the blockchain. Academics and researchers can use the given insights to further develop BC applications based on the IoT.