Blockchains and Smart Contracts for the Internet of Things
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
Blockchain-Based Data Sharing and Trading Model for the Connected Car.
TL;DR: A Blockchain-based vehicle data marketplace platform model, along with a data sharing scheme, using Blockchain- based data-owner-based attribute-based encryption (DO-ABE) that achieves the basic requirements such as data confidentiality, integrity, and privacy.
Journal ArticleDOI
Service architecture of IoT terminal connection based on blockchain identity authentication system
TL;DR: The memory usage and the corresponding traffic consumption during the process of creating the wallet and data upload are analyzed to verify the stability of the system and the rationality of the IoT identity authentication system based on the blockchain.
Proceedings ArticleDOI
Transparent Contribution Evaluation for Secure Federated Learning on Blockchain
Shuaicheng Ma,Yang Cao,Li Xiong +2 more
TL;DR: Wang et al. as discussed by the authors proposed a blockchain-based federated learning framework and a protocol to transparently evaluate each participant's contribution, which protects all parties' privacy and transparently evaluates contributions based on the model updates.
Journal ArticleDOI
Information traceability platforms for asset data lifecycle: blockchain-based technologies
Roberto Brandin,Sepehr Abrishami +1 more
TL;DR: This study provides an exploratory framework to be used by the supply chain members in offsite manufacturing, and the architecture, engineering and construction (AEC) industry in general, to track asset information throughout their entire life cycle securely and transparently.
Journal ArticleDOI
The role of blockchain technology in the integration of sustainability practices across multi-tier supply networks: implications and potential complexities
TL;DR: In this paper , the authors explored the integration of sustainability across complex multi-tier supply networks through the utilization of blockchain technology and found that blockchain can enhance suppliers' visibility and increase suppliers' predictability and create robust sustainable supply networks.
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.