Blockchain is a list of records linked with cryptography and is resistant to data modification. Internet of things is an interrelated system with computer devices that support data transfer by use of the internet. Availability of network enables internet of things to transfer data without the help of human-to-human interaction. Since it was established, blockchain acted as public transaction ledger benefiting cryptocurrency bitcoin (Dziuba, 2018). In modern days, blockchain is used in the internet of things to enable automation of routine tasks. The interaction of people has improved due to the use of modern machines and advanced technology. Direct machine interaction is a feature of the internet of things. Large industrial systems are prioritizing blockchain and IOTs to improve computational capabilities and enhance faster growth. The industrial field is revolutionizing because of blockchain and the internet of things. The research will analyze blockchain in the internet of things and its impact in ways of human interaction.
Keywords: blockchain, internet of things (IoT), cryptography, human interaction, direct machine interaction
Data transfer in different interfaces has made the internet of things a necessity for business organizations. Data-driven society requires IOTs to extract interesting information and support faster decisions in the industrial field. Blockchain in the internet of things conduct real-time monitoring, enable automation of routine tasks and generate sensitive personal data (Kim &Lampkins, 2019). The internet of things should be controlled to maintain the privacy of a company and prevent cyber-attacks. IOTs is in electronic devices like 3D printers that have sensors for collecting data and enable the necessary computation. Also, machines for gathering information like moisture sensors prioritize the internet of things. However, it should be known that the working of the internet of things depends on the information available in a technological system.
Recent research indicates that blockchain technology works with a decentralized network and has time-stamped digital records. Digital records are contained in the blockchain with network nodes that enable its functionality (Minoli, 2019). Modern industries require the blockchain to support centralized communication models for their systems. Centralized clouds in the blockchain of the IOTs require high maintenance level. The interaction between the blockchain and the internet of things can track connected devices by use of a strong network. Blockchain and IOTs prevent man-in-middle attacks in a modern company. Smart contracts for a company are supported by the technology of blockchain and IOTs. Some of the devices which have improved in their performance because of the blockchain of IOTs include devices of Smart Homes like Smartphone and in parking solutions. Modern companies have begun smart parking measures by the help of blockchain and IOTS.
Research was conducted to evaluate the need for blockchain and internet of things. Research questions included:
How does blockchain adapt to the internet of things?
How should blockchain be integrated with the internet of things?
Explain the feasibility of blockchain of IOTs in improving operations in an industrial field?
The research questions guided effective, qualitative research and allowed to have a focus on the information needed for the journal article. I focused on some comments from IBM human resource managers on the importance realized from the Blockchain of the IOTs.
Analysis of Blockchain and the Internet of Things
Characteristics of blockchain like the ability to be immutable, auditable and transparent allows easier interaction with the internet of things to provide security to all shared data of a company. Blockchain and IOTs provide data silos for use in computer cloud to enable data processing. Industrial systems are protected through application of blockchain and the IOTs. Blockchain and IOTs work as a framework for transaction processing and management of interacting devices. Manufacturers of computer devices need to apply blockchain and IOTs in their manufacturing process to support the lifespan of their devices (Urien, 2018). Therefore, blockchain and IOTs provides maintenance to a device and make it last longer. Generation of adequate data for computational purposes is enabled by blockchain and IOTs. Transactions in computer networks are also supported by blockchain. Business companies in need of protecting computer devices should implement blockchain and IOTs in their operations. Entrepreneurs are celebrating the technology of blockchain, which has simplified their work and increased accuracy in ways of storing data.
The blockchain of IOTs works in devices which are not restricted. In its integration, researchers have realized some drawbacks of blockchain, which include lower transaction processing power because of throughput and latency. Computer systems with blockchain suffer scalability because lots of data is processed by the new technology (Urien, 2018). Excessive use of blockchain of IOTs may undermine the privacy of company information. In all business fields, the privacy of the information on business operations is needed. Therefore, the reckless use of blockchain affects the security of some data of a company. There is need to consider computational resources when handling blockchain of IOTs because consensus algorithms are expensive and should be implemented when the manager of a company is sure on where to get an alternative of the consensus algorithms.
The Internet of Things is encountering exponential development in research and industry, however it despite everything experiences protection and security vulnerabilities. Ordinary security and protection approaches will in general be inapplicable for IoT, basically because of its decentralized topology and the asset requirements of most of its gadgets. Blockchain BC that support the digital money Bitcoin have been as of late used to give security and protection in shared systems with comparative topologies to IoT. In any case, blockchains are computationally costly and include high data transmission overhead and postponements, which are not appropriate for IoT gadgets. Position paper proposes another safe, private, and lightweight design for IoT, in view of BC innovation that disposes of the overhead of BC while keeping up the vast majority of its security and protection benefits. Research on portrayed technique is usually done on a savvy home application as an agent contextual analysis for more extensive IoT applications. The proposed engineering is leveled differently and comprises of savvy homes, an overlay system, and cloud stockpiles planning information exchanges with blockchain to give protection and security. The plan utilizes various kinds of BCs relying upon where in the system pecking order an exchange happens and utilizes conveyed trust strategies to guarantee a decentralized topology. Subjective assessment of the proposed engineering under basic risk models features its viability in giving security and protection to IoT applications.
In modern days, a blockchain of IOTs is applied in different scenarios to boost production processes of a company. Proper deliberation should be done before applying the blockchain of IOTs. In a scenario where a company is funding a project with little return after completion, blockchain should be avoided because it may incur high costs to the company. A standardized approach should be taken by the management of a company to determine when blockchain of IOTs should be applied (Rao & Clarke, 2019). In Smart City, the blockchain of IOTs guides the generation of diverse data needed in the maintenance of resources. In a device life cycle, a blockchain of IOTs helps in maintaining system interfaces to ensure the produced products lasts to serve people for a long time. IoT devices have user data utilization feature that store data and allow productivity in computational operations of an industry.
Whenever blockchain of the internet of things is applied in an industrial field, transaction information is kept immutable. The launch of Bitcoin cryptocurrency supported full network of participating nodes. The technology of blockchain does not require an intermediary to trust when making data computations. Currently, blockchain is improved through sharding of data for effective distribution in a device. Also, allowing multiple blocks in computer devices is a way of improving the functions of the blockchain of IOTs (Zhu, Gai & Li, 2019). Parallel blockchain in a modern company is enhanced through collective signing by data miners. A combined approach is taken when designing blockchain of the internet of things. Sensor nodes support the network of blockchain. Focusing on the blockchain of the internet of things gives employees an opportunity to use lightweight nodes in computerized sensors.
Wrapping data in regular transactions is the role of blockchain in the modern business world. Accuracy will be maintained in business activities after integration of blockchain of the internet of things. Blockchain has contributed to economic development because it allows industrial companies to make huge profit after minimizing errors in storage and computation of data (Zhu, Gai & Li, 2019). International companies like IBM are prioritizing blockchain of things to increase efficiency in the working of the company’s software and hardware devices (Occhiogrosso, 2018). Use of blockchain allows effective IBM services. For the blockchain network, the main components include Chaincode, ordering service and database channels. Concerning usability of the blockchain of the internet of things, this technology is easier for implementation, and all companies are allowed to plan for its installation.
Characteristics of Blockchain
Blockchain in several ways helps IoT to solve many problems. Here are the Blockchain characteristics as shown in figure 1: