IoT 22(3): e3

Research Article

Blockchain Technology: A Panacea for IoT Security Challenge

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  • @ARTICLE{10.4108/eetiot.v8i3.1402,
        author={Nehemiah Adebayo and Amos O. Bajeh and Micheal Arowolo and Erondu Udochuckwu and Kayode Jesujana and Mary Ajayi and Surajudeen Abdulrasaq and John Onyemenam},
        title={Blockchain Technology: A Panacea for IoT Security Challenge},
        journal={EAI Endorsed Transactions on Internet of Things},
        volume={8},
        number={3},
        publisher={EAI},
        journal_a={IOT},
        year={2022},
        month={10},
        keywords={IoT, Blockchain technology, Consensus algorithm, Connected devices, Smart contracts},
        doi={10.4108/eetiot.v8i3.1402}
    }
    
  • Nehemiah Adebayo
    Amos O. Bajeh
    Micheal Arowolo
    Erondu Udochuckwu
    Kayode Jesujana
    Mary Ajayi
    Surajudeen Abdulrasaq
    John Onyemenam
    Year: 2022
    Blockchain Technology: A Panacea for IoT Security Challenge
    IOT
    EAI
    DOI: 10.4108/eetiot.v8i3.1402
Nehemiah Adebayo1,*, Amos O. Bajeh1, Micheal Arowolo1, Erondu Udochuckwu1, Kayode Jesujana2, Mary Ajayi1, Surajudeen Abdulrasaq1, John Onyemenam1
  • 1: Landmark University
  • 2: Ekiti State University
*Contact email: adebayo.nehemiah@lmu.edu.ng

Abstract

The Internet of Things (IoT) platforms, despite the wide range of application is not without loop holes of which cyberattackers can take advantage. In order to improve the platform's security while also increasing other features, it has been proposed that blockchain technology be implemented in any IoT system. However, while blockchain technology has many advantages, it is important to consider other options because they all have their own drawbacks that may not be ideal for every use case situation. IoT network devices have limited computer power, storage space, and bandwidth. As a result, these systems are easily prone to assault than other network connected devices, such PCs, cell phones and tablets. With focus on IoT security challenges and the countermeasures offered by the blockchain technology, consensus algorithm, data encryption and smart contracts were discovered to be the common and effective algorithm employed by the blockchain technology in securing Iot systems over time.