How Can You Secure the Internet of Things with Blockchain Technology?
Blockchain & IoT are the most emerging and highly used technological platforms that facilitate several businesses through their IT solutions. The Internet of Things was introduced in the year 2009 with the motive of establishing connectivity among the different devices using intermediary components like sensors as well as the softwares. The connectivity of devices as well as the sensors is done over the internet to make such devices function automatically.
The Internet of Things has completely revolutionized the way how we humans live, work as well as communicate. Let’s take an instance of smartphones’ connectivity with our cars. The smartphone consists of software as well as our cars also consist of apps. To establish the connectivity several detection sensors are been used. But sometimes this technology also brings some security issues and risks. This is the reason the cyber attacks in the past few years have increased to an extent.
Table of Content
What is Blockchain technology?
Blockchain technology is simply a distributed ledger that keeps on storing data in a securest form. Blockchain is one such ledger that is open for public access but one cannot modify or delete any of the transactions from the blockchain. Blockchain only stores validated forms of data. Just because this ledger is managed by a network of nodes that are capable enough to verify and validate each transaction. After the transaction gets validated it gets automatically stored in this ledger.
Blockchain technology has gained momentum in the past few years as a method of securing financial transactions. Just because of its decentralized and temper-proof nature makes it an ideal solution for the different application softwares. It has proven to be ideal for a wide range of technologies like supply chain management, digital identity, and data sharing. Just because of its security properties, it has now become the most used technology worldwide. Some blockchain development services companies are working to integrate and make its utilization to the other platforms as well.
What is IoT (Internet of Things)
The IoT or Internet of Things is just an establishment of the connection of the different devices that are connected over the internet. These physical devices are simple sensors, software as well as hardware. IoT is one such technology that enables users to collect and analyze large amounts of data. It also automates several working processes as well as creates new applications that can improvise efficiency, reduce business costs as well as enhance our life experiences.
IoT has a lot of benefits but also has a particular concern which is security. Just because IoT facilitates the connectivity of multiple devices and when there are several devices connected with each other there are higher possibilities of security breaches as well as the cyberattacks. Just by searching any of the device vulnerabilities the attackers attack the whole system and can access each and every sort of data. These data breaches can cause severe damage to the company's revenues as well as reputation sometimes. That’s why it is necessary to find the crucial method of securing IoT data.
This is the main reason why most companies are trying to integrate blockchain technology into an IoT network with the motive of securing IoT networks thus facing the several challenges of integrating blockchain technology with IoT. In this blog, we are discussing how we can secure the IoT Internet of Things using blockchain technology. Since there are several hurdles in doing all such tasks but we will show you how one can easily secure the Internet of Things with Blockchain technology.
How One Can Secure The Internet Of Things With Blockchain Technology
There are three main approaches that one can use to establish the connectivity of IoT devices with blockchain technology.
IoT-IoT with blockchain: This approach states the integration of blockchain technology with IoT devices with the motive to store only a part of data. In this approach, all the IoT devices communicate with each other without the usage of blockchain technology. This approach is also considered one of the securest approaches to IoT device communication and data storage just because it only permits the devices to function offline. It integrates a blockchain into an IoT network just for storing only a part of the data of all the IoT devices.
IoT with Blockchain: This is a completely changed approach that enables the communication of all IoT devices using blockchain technology. In this approach, the blockchain technology acts in place of the cloud in a completely traditional IoT network. We all know that the blockchain is the securest form of data storage in which the data cannot be modified or deleted by any of the third-party users. All they have is accessible only to view that transaction. This approach leads to the enhanced independency of the data ensuring the complete security of that data from third-party users. On the other hand, this recording and storage of the transactions in the blockchain technology lead to increased bandwidth. Integrating a blockchain into an IoT network secures your data with higher efficiency.
Hybrid Connectivity Approach: This approach completely functions like both the above-mentioned approaches. It enables the sharing of all the data transactions amongst all the connected IoT devices as well as blockchain technology is only used to store a limited amount of data. This hybrid integration approach simply facilitates the usage of the fog and cloud computing approach for limiting the blockchain approach. Both fog and cloud computing is used to generally dig up data from a wide range of sources available over the internet and the blockchain is only limited to collecting a limited amount of the data generated from the IoT devices. This approach is one of the securest approaches for Blockchain and IoT technologies.
Blockchain and IoT security are one of the most emerging and latest concepts that are used these days by several IoT software development companies these days. Using the blockchain technology for the IoT application is the most challenging process. In this blog we have stated methodologies using which securing IoT data in the cloud with blockchain technology has now become much easier. As the use of IoT devices continues to grow, it is likely that we will see increased adoption of blockchain technology as a means of securing these devices and protecting our data.