Blockchains and Smart Contracts for the Internet of Things
Reads0
Chats0
TLDR
The conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.Abstract:
Motivated by the recent explosion of interest around blockchains, we examine whether they make a good fit for the Internet of Things (IoT) sector. Blockchains allow us to have a distributed peer-to-peer network where non-trusting members can interact with each other without a trusted intermediary, in a verifiable manner. We review how this mechanism works and also look into smart contracts—scripts that reside on the blockchain that allow for the automation of multi-step processes. We then move into the IoT domain, and describe how a blockchain-IoT combination: 1) facilitates the sharing of services and resources leading to the creation of a marketplace of services between devices and 2) allows us to automate in a cryptographically verifiable manner several existing, time-consuming workflows. We also point out certain issues that should be considered before the deployment of a blockchain network in an IoT setting: from transactional privacy to the expected value of the digitized assets traded on the network. Wherever applicable, we identify solutions and workarounds. Our conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.read more
Citations
More filters
Journal ArticleDOI
Practical Modeling and Analysis of Blockchain Radio Access Network
TL;DR: This study develops an analytical framework to model B-RAN and provides some basic fundamental analysis, and establishes a queuing model based on a time-homogeneous Markov chain that is evaluated with respect to latency and security considerations.
Journal ArticleDOI
Cloud-based vs. blockchain-based IoT: a comparative survey and way forward
Raheel Ahmed Memon,Raheel Ahmed Memon,Jianping Li,Junaid Ahmed,Muhammad Irshad Nazeer,Muhammad Ismail,Khursheed Ali +6 more
TL;DR: A high-level hybrid IoT approach that uses the cloud, edge/fog, and blockchain together to avoid the limitations of each infrastructure is proposed.
Proceedings ArticleDOI
Collaborative Anomaly Detection on Blockchain from Noisy Sensor Data
TL;DR: By formalizing the task of collaborative anomaly detection as that of multi-task probabilistic dictionary learning, it is shown that major technical issues of validation, consensus building, and data privacy are naturally addressed within a statistical machine learning algorithm.
Journal ArticleDOI
Towards a blockchain-based certificate authentication system in Vietnam.
TL;DR: This study proposed some blockchain-based application development principles in order to build a Blockchain-based authentication system in Vietnam, called the Vietnamese Educational Certification blockchain, called VECefblock with the following procedures: designing overall architecture along with business processes, data mapping structure and implementing the decentralized application that can meet the specific Vietnamese requirements.
Journal ArticleDOI
SHealth: A Blockchain-Based Health System With Smart Contracts Capabilities
TL;DR: Smart-Health (SHealth), a blockchain-based health management system, is presented, a private multi-layered blockchain integrated with a multi-tiered addressing scheme that defines the privileges and permissions of entities in the system.
References
More filters
Journal ArticleDOI
The Byzantine Generals Problem
TL;DR: The Albanian Generals Problem as mentioned in this paper is a generalization of Dijkstra's dining philosophers problem, where two generals have to come to a common agreement on whether to attack or retreat, but can communicate only by sending messengers who might never arrive.
Book ChapterDOI
The Byzantine generals problem
TL;DR: In this article, a group of generals of the Byzantine army camped with their troops around an enemy city are shown to agree upon a common battle plan using only oral messages, if and only if more than two-thirds of the generals are loyal; so a single traitor can confound two loyal generals.
Book ChapterDOI
The Sybil Attack
TL;DR: It is shown that, without a logically centralized authority, Sybil attacks are always possible except under extreme and unrealistic assumptions of resource parity and coordination among entities.
Proceedings ArticleDOI
Practical Byzantine fault tolerance
Miguel Castro,Barbara Liskov +1 more
TL;DR: A new replication algorithm that is able to tolerate Byzantine faults that works in asynchronous environments like the Internet and incorporates several important optimizations that improve the response time of previous algorithms by more than an order of magnitude.
Proceedings Article
In search of an understandable consensus algorithm
Diego Ongaro,John Ousterhout +1 more
TL;DR: Raft is a consensus algorithm for managing a replicated log that separates the key elements of consensus, such as leader election, log replication, and safety, and it enforces a stronger degree of coherency to reduce the number of states that must be considered.