Securing IoT Devices and Data: An Analysis of Blockchain Technology and Mechanisms

The Internet of Things, or IoT, has expanded substantially in recent years. Combining IoT and the Internet allows heterogeneous intelligent devices to process real-time data and conduct transactions. Thanks to the Internet of Things (IoT), almost everything and everything can be connected to the internet and covered. Smart housing, smart healthcare, smart irrigation, and many other uses for IoT are all common [2]. However, the IoT’s dependability in terms of privacy and security presents significant development challenges. Consensus mechanisms, decentralization, smart contracts, and data encryption are all blockchain elements that are well suited for building IoT systems since they assist designers in preventing potential attacks and lowering transaction costs. Blockchain serves as a decentralized and open database platform, which can improve the performance of IoT security. We must consider the security challenges and concerns that come with blockchain technology in addition to its ability to provide us with more dependable and useful services. Blockchain technology creates a decentralised, tamper-proof ledger that can securely record and confirm transactions, offering a viable solution for improving the security of IoT devices. Using an explanation of the underlying blockchain technology, a discussion of the security issues that IoT devices must deal with, and a description of the possible advantages of using blockchain for IoT security, we investigate the utilization of blockchain innovation for safeguarding IoT gadgets in this paper.