Blockchain for IoT: A Critical Analysis Concerning Performance and Scalability
Ziaur Rahman, Xun Yi, Ibrahim Khalil, and Andrei Kelarev
TL;DR
This paper critically analyzes blockchain's performance and scalability issues in IoT, highlighting trade-offs, security challenges, and evaluating Ethereum, Hyperledger, and IOTA for IoT applications.
Contribution
It identifies key trade-offs and security challenges in blockchain-based IoT, guiding developers in selecting suitable blockchain technologies for IoT applications.
Findings
Ethereum faces scalability limitations in IoT.
Hyperledger offers better performance but has security trade-offs.
IOTA shows promise with scalability but has security concerns.
Abstract
The world has been experiencing a mind-blowing expansion of blockchain technology since it was first introduced as an emerging means of cryptocurrency called bitcoin. Currently, it has been regarded as a pervasive frame of reference across almost all research domains, ranging from virtual cash to agriculture or even supply-chain to the Internet of Things. The ability to have a self-administering register with legitimate immutability makes blockchain appealing for the Internet of Things (IoT). As billions of IoT devices are now online in distributed fashion, the huge challenges and questions require to addressed in pursuit of urgently needed solutions. The present paper has been motivated by the aim of facilitating such efforts. The contribution of this work is to figure out those trade-offs the IoT ecosystem usually encounters because of the wrong choice of blockchain technology. Unlike…
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