Security Vulnerabilities in IoT Ecosystem? Blockchain is the Solution
In this world of interconnected devices where the risk rate is equally high as the success rate, the time has come when industries look at the novel technologies to solve the persistent security problems. Blockchain technology has witnessed an increase in adoption in recent time as people appreciate its offerings. It is proven that technology’s contribution is something that a lot of industries desired, and its increased adoption is the evidence for that.
• IoT security vulnerabilities
The Internet of Things is all about receiving and sending vast amounts of data through systems in real-time. With many devices connected, security issues tend to rise and one needs to ensure the protection of all the data and the communication. Also, it is essential to verify that the data is delivered to the right place, form and time.
With millions of IoT devices connecting daily, the number of communications will also increase which will lead to issues concerning scalability, economics, and engineering. Large IoT ecosystems will see the associated problems arise and find a way to resolve it.
• Blockchain Approach is protecting IoT
The combination of blockchain and IoT is one of the most significant emerging trends. The decentralization of the IoT network will help the latter in solving security issues. The capabilities of blockchain- decentralization, autonomy, trustworthiness make it a potentially essential component of the overall IoT framework. The blockchain is here to ensure the successful processing of multiple transactions, tracking, and coordination of smart devices.
Most importantly, as the shared ledger is based on cryptography, its integration into IoT networks caters additional privacy and security. This is because blockchain technology records the transaction carefully that means it maintains the history of connected devices and it can be recorded too.
The integration of blockchain decentralized approach to an entire IoT network can revolutionize the industry as it ensures proper security measures, privacy, and protection of data at all levels. Additionally, blockchain can also resolve scalability issues and provide an effective functioning of the system.