A Study on Blockchain Networking for Internet of Things
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High expectations are posed on the blockchain-based internet of things (IoT), in which IoT and blockchain technology is combined to obtain trust in the Internet, where trust appears impossible to obtain. However, applications of current blockchain-based IoT technology to real-world scenarios appears to be significantly more difficult owing to limitations regarding scalability and security. In this paper, the difficulties to implement blockchain networking technologies for IoT and digital businesses are investigated and practical solutions such as sharding, off-chain, de-idetification and P2P crypto-currency exchange are explored. In further work, a blockchain platform for IoTs which provides scalability and security will be implemented according to this research results, and compared with conventional blockchain platforms.
Abstract
High expectations are posed on the blockchain-based internet of things (IoT), in which IoT and blockchain technology is combined to obtain trust in the Internet, where trust appears impossible to obtain. However, applications of current blockchain-based IoT technology to real-world scenarios appears to be significantly more difficult owing to limitations regarding scalability and security. In this paper, the difficulties to implement blockchain networking technologies for IoT and digital businesses are investigated and practical solutions such as sharding, off-chain, de-idetification and P2P crypto-currency exchange are explored. In further work, a blockchain platform for IoTs which provides scalability and security will be implemented according to this research results, and compared with conventional blockchain platforms.
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