Both Blockchain technology and internet of things are the backbone of the new industrial revolution we have just stepped in. although both of them are initially in the period of infancy and are steadily growing their popularity to revolutionize the environment around us. However, there is a long way ahead for them to gain their true potential, industry experts are predicting rapid development in the future for the technology.
Considering the recent boom in IOT technology, securing the data, the technology utilizes, had become a major concern. However, securing such a large interconnected system of IOT is not an easy task and providing multilevel security at each end is not cost effective. Hence the integration of Blockchain technology into IOT solution can add strong security layer that ensures security.
How Blockchain technology ensures IOT security.
IOT technology is primarily based on the centralized model, where interconnected device we call smart is not that smarter to make their own decision outside these model. Centered within the cluster and clouds everywhere, the device works to provide authentication, authorization and encryption services in IOT infrastructure. To make it simple, IOT operation rely entirely on a single central authority and if there is any breach of security on it, the whole system including data is a threat.
Whereas Blockchain works on a decentralized authority model and the complete data is stored on each node. Devices don’t require any central authority for communicating with each other instead these interconnected devices connect automatically for managing system updates, bugs, and energy management.
Hackers in Blockchain target nodes, however, this devices and node participate actively in validating and encrypting data. Whenever any bit of unknown data is added to any part of this network, the data gets verified by this node to ensure security based on the public ledger.
Scalability and resilience is another two characteristic feature of Blockchain that supports its application in IOT transactions. Although the basic principle remains same as of bitcoin where each transaction gets logged in a public distributed ledger and verified by nodes, however, unlike bitcoin units are replaced with credits in IOT transactions.
Integrating Blockchain in IOT technology seems quite challenging. Unlike smooth operation it offers to bitcoin, Blockchain technology in IOT is more complex that need to manage infrastructure for device authentication, security and control layers of the entire interconnected devices simultaneously. However, the technology is just in their infancy and considering that we predict a major expansion in the technology as a security tool in IOT.