Blockchain and IoT: Technologies Paired to Ensure Valid and Secure Transactions

Blockchain and IoT: Technologies Paired to Ensure Valid and Secure Transactions

The Internet of Things (IoT) offers a level of convenience which is set to revolutionize the world, for consumers and businesses alike. Yet, in terms of security and operability, this technology is still far from perfect.

Although a great deal of research is still required, it is widely believed that IoT’s flawed elements can be accounted for with blockchain. IoT devices often lack the proper memory and computing power necessary to run breach-proof security protocols. Blockchain provides these features through the use of a decentralized ledger and encrypted data. Such features of blockchain IoT security aid in providing a balance to current IoT security protocols, especially when dealing with the storage of data and payment procedures.

The Benefits of Applying Blockchain to IoT

Many IoT devices are made rather small to be more user-friendly and convenient — think of a smartwatch or a thermo sensor. Due to this, however, they often lack memory as well as proper processing power, which makes it difficult to ensure the appropriate security level for the data these devices are capable of tracking.

Interaction with these devices is often somewhat limited, therefore, users may be totally unaware if their device has been accessed from an outside source. Meanwhile, these ...


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