A Blockchain-based IoT Security Solution Using Multichain

Blockchain technology is increasingly being utilized in Internet of Things (IoT) systems to provide secure data communications and hence prevent data tampering. Private blockchain offers improved speed and efficiency for small networks controlled by a single authoritative node while maintaining the secure, transparent, and immutable characteristics of blockchain technology. Multichain, an open-source private blockchain platform, offers high flexibility in building robust IoT security solutions through customizable configurations and permissions. Key features of Multichain include rapid deployment, unlimited asset management, and streamlined data streams. In this paper, we undertake a comprehensive review of existing work on blockchain IoT solutions using Multichain. To further validate our findings, we conduct a blockchain-based simulation experiment using Multichain and aim to provide insights into the potential applicability of the Multichain platform for securing IoT systems.