Unleashing the Potential of Blockchain and Internet of Things (IoT) Convergence: A Comprehensive Study

This comprehensive review explores the synergistic intersection of blockchain technology and the Internet of Things (IoT), revealing how the fusion of these two innovative technologies is revolutionizing both network security and applications. As the IoT ecosystem expands and becomes increasingly complex, the necessity for robust and efficient security measures escalates. Herein, we elucidate how Blockchain technology, renowned for its secure, decentralized nature, can play an instrumental role in safeguarding IoT devices and networks from potential threats and breaches. We conduct an in-depth exploration of the various Blockchain-enabled IoT applications, shedding light on examples that span numerous sectors such as healthcare, supply chain, smart homes, and more. These practical implementations exemplify the enhanced security, transparency, and improved efficiency that Blockchain can introduce to the IoT landscape. This review also identifies and discusses challenges faced when integrating Blockchain with IoT, such as scalability issues and energy consumption, providing suggestions for future research and developments in this area. As the digital age advances, the fusion of Blockchain and IoT holds immense potential not only to fortify security but also to redefine conventional application models. Our analysis presents a clear trajectory of progress and innovation, offering researchers, practitioners, and stakeholder’s valuable insights into the future of Blockchain-enabled IoT.