Blockchain of Things (BCoT): The Fusion of Blockchain and IoT Technologies

TL;DR

This paper explores the integration of blockchain technology with IoT to enhance security and decentralization, analyzing its feasibility, challenges, and potential benefits of the Blockchain of Things (BCoT).

Contribution

It provides a comprehensive analysis of the viability and challenges of combining blockchain with IoT, introducing the concept of Blockchain of Things (BCoT).

Findings

Blockchain enhances IoT security through cryptography.

Decentralization in BCoT can improve data integrity.

Challenges include scalability and resource constraints.

Abstract

Blockchain, as well as Internet of Things (IoT), is considered as two major disruptive emerging technologies. However, both of them suffer from innate technological limitations to some extent. IoT requires strengthening its security features while Blockchain inherently possesses them due to its extensive use of cryptographic mechanisms and Blockchain, in an inverted manner, needs contributions from the distributed nodes for its P2P (Peer-to-Peer) consensus model while IoT rudimentarily embodies them within its architecture. This chapter, therefore, acutely dissects the viability, along with prospective challenges, of incorporating Blockchain with IoT technologies,inducing the notion of Blockchain of Things (BCoT), as well as the benefits such consolidation can offer.