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Research Topics in IoT with Blockchain Technology

Research Topics in IoT with Blockchain Technology

   Blockchain technology creates temper-resistant immutable blocks of IoT data transactions and improves the security of data transmission. The blockchain is a distributed ledger technology in which cryptographic currencies are used to secure the corresponding operation. For instance, HYPR is a significant blockchain-based IoT application. The blockchain increases the potential of HYPR by creating distributed secure network among Automated Teller machines, cars, locks, and smart homes.
   The data in the blockchain is immutable, which offers high security to the IoT network transaction. It neglects the network shut down issues owing to the compromised IoT devices. The major advantages of using blockchain are security, trust, traceability, and transparency. It also minimizes the costs and enables visibility. Blockchain technology is broadly classified into four categories that are public, private, consortium, and hybrid. The public blockchain follows the distributed ledger model that enables the user to access the data anytime.
   The major advantage of a public blockchain is the decentralization and independence of organizations, whereas it necessitates efficient authentication methods to enhance the security level of transactions. The private blockchain is mainly used in a closed environment where authenticated users can only access the blocks. A single entity is responsible for controlling the private blockchain. The main advantage of a private blockchain is authentication and security. The consortium blockchain is a federated blockchain that includes the features of both public and private blockchains. Similarly, the hybrid blockchain combines the advantages of public and private blockchains and improves system efficiency.