Blockchain for IoT

Presented by: Under the guidance of:

Charika Kohli Dr.Shweta Sinha
A505145021004 (Associate Professor)
CONTENTS
Introduction
Objectives
What is IoT
What is Blockchain
Blockchain for IoT
Challenges
Future Scope and Conclusion
INTRODUCTION
The blockchain and the Internet of Things are two of the most
promising new technologies.However, both have their own
technical limitations.
The Internet of Things (IoT) describes the network of physical
objects—“things”—that are embedded with sensors, software, and
other technologies for the purpose of connecting and exchanging
data with other devices and systems over the internet.
Blockchain technology opens up the possibility of addressing IoT
concerns. A blockchain is a decentralized ledger of all transactions
across a peer-to-peer network.
Blockchain is an attractive technology for addressing IoT security
and privacy concerns. With blockchain support, a decentralized
approach to IoT connectivity solves many concerns.
OBJECTIVES
Immutability
Improved Traceability
Decentralization
Data Privacy
Enhanced Security
Greater Transparency
Reduced Cost
 IoT
With the advent of smart homes, smart cities, and smart everything,
the Internet of Things (IoT) has emerged as an area of incredible impact,
potential, and growth.

It represents a network where "things" or embedded devices having

sensors are interconnected through a private or a public network.

For e.g. the electrical appliances including washing machines and

refrigerators can be controlled remotely through IoT. The security
cameras installed for surveillance of a location can be monitored
remotely anywhere in the world. All these are nothing but examples of
IoT which we can find around us.
 BLOCKCHAIN
Blockchain is an immutable, distributed ledger i.e. it is decentralized
and is not controlled by a single entity.

Immutable means that once the transaction in blockchain has been

occurred it cannot be changed or reversed. It is transparent as everyone
in the network owns the information and can view all the transactions
making it accountable for the users.

Each individual who contributes to the blockchain network is called a

node and each node will have the exact same copy of the ledger.
Therefore, the ledger data is hosted and synchronized across the entire
network.
 Blockchain for IoT
The BC-IoT integration approach has a lot of remarkable opportunities. It
opens the new doors for both together.
Building the Trust between parties: The BC-IoT approach will build trust
among the various connected devices because of its security features. Only
verified devices can communicate in the network and every block of the
transaction will first verify by the miners then they can enter in the BC.
Reduce the Cost: This approach will reduce the cost because it
communicates directly without the third party. It eliminates all the third-
party nodes between the sender and the receiver. It provides direct
communication.
Reduce Time: This approach reduces the time a lot. It reduces the time
taken in transactions from days to second.

Security and Privacy: It provides security and privacy to the devices and
information.

Social Services: This approach provides public and social services to the
connected devices. All connected devices can communicate and exchange
information between them.

Financial Services: This approach transfer funds in a secure way without the
third party. It provides fast, secure and private financial service. It reduced
transfer cost and time.

Risk management: This approach plays important role to analyse and
reduce the risk of failing the resources and transactions.
 CHALLENGES
Resource constraints:
Most IoT devices are resource constrained.
For example, sensors, RFID tags, and smart
meters have low processing power, limited
storage space, poor battery performance,
and poor network connectivity. However,
blockchain distributed consensus algorithms
often require high computational power and
energy consumption.
Security vulnerability:
Although introducing blockchain technology
into IoT will improve IoT security by bringing
encryption and digital signatures, security
remains a big worry for BCoT due to the
vulnerabilities of IoT and blockchain
systems.
Privacy leakage
Some measures exist in blockchain technology
to protect the data privacy of transaction
records preserved in blockchains. However,
these security measures are insufficient.
Furthermore, comprehensive storing of
transaction data on blockchain may result in
significant privacy breaches.
Incentive mechanism in BCoT:
Performing data analysis with anonymous
blockchain data is difficult. Blockchain
technology can protect your privacy by
encrypting records and digitally signing them.
However, you often need to decrypt the data
before you can perform the data analysis.
Difficulty in BDA in BCoT
There is an influx of large amounts of IoT data
being generated in near real time. Massive
volume, heterogeneity, and business value
characterise IoT data. IoT data can be used to
extract hidden values and make intelligent
judgments using big data analytics.

Scalability of BCoT
The scalability of current blockchains also
restricts their use in large-scale IoT
applications. The throughput of transactions
per second vs. the number of IoT nodes and
concurrent workloads can be used to
determine the scalability of blockchains. Many
blockchain systems are plagued by slow
throughput.
APPLICATIONS
Smart manufacturing

Supply chain management

Food industry

Smart grid

Health care
 Conclusion &
Future Scope
Blockchain and IoT are the two great technological
disruptions and their combination would yield a better
result in every possible domain. It has the power to provide
efficiency and security to the field it had been employed to.
The paper presents a brief survey, discussing the basics
about the technologies, their integration, and their scope of
applications. It presents an individual description of IoT
and Blockchain. It also describes the IoT and Blockchain
relationship and the motive behind their integration.
Further the advantages of incorporating IoT with
Blockchain have been discussed. Future research
suggestions for BCoT could be inventing a feature or a new
technology having similar characteristics to Blockchain
which would decrease power consumption and
computation time. Other future work includes the method
to assure the safety and confidentiality of devices in
Blockchain and the best cost- efficient way to use
blockchain based safety clarifications.
Thank
you!!