Enhancement of Iot Security Solutions Using Blockchain Technology

A blockchain is a growing list of records, called blocks, which are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. It is a decentralized, distributed and public digital ledger that is used to record transactions across many computers called nodes. Blockchain, in collaboration with the technologies like Artificial Intelligence, the Internet of Things, Big data, etc., provides more effective outcomes by minimizing manpower with an increase in its feasibility. IoT is all about expanding the power of the internet beyond computers and smartphones to a whole range of other things, processes, and environments. Our day-to-day life can be made interesting with the applications of IoT-enabled devices in the home, agriculture, logistics, industries, healthcare sectors, and so on. They can be combined with the disciplines like data collection, management of huge data, storage of data, data analytics, etc. These IoT devices are embedded with sensors that are vulnerable to hackers and malware. At present, we cannot give complete assurance of the security of the access and data associated with the devices as it is possible for an intruder to misuse or mishandle the scheduled process. But, in association with blockchain technology, we can acquire solutions for problems related to security.

Keywords: Application, Authenticity, Blockchain, Banking sector, Consensus, Corda, Crypto-currency, Cryptography, Distributed, Ether, Ethereum, Egovernance, Hashing, Healthcare, IoT, Platforms, Proof of work and stack, Security, Smart contract, Smart city.