Is Blockchain The Way To Save IoT?

IoT Challenges

• Physical device attacks (unauthorized device control).
  
• Software attacks (malware such as viruses or worms).
  
• Network attacks (Denial of Service assaults, wireless vulnerability exploits).
  
• Encryption attacks (brute-force password cracking, “Man In the Middle” attacks).
  

Enter Blockchain

• Analytical model tracking: Allow the system to record metadata and results about logic executed at the edge of the network for the purposes of regulatory compliance, and create an immutable history of why certain “decisions” were made during IoT processing.
  
• Secure software updates: The ability to publish software updates as a URL on the blockchain, along with a cryptographic hash of the update which can be validated by blockchain-connected IoT devices during the process.
  
• Payments and micropayments: Automated payments to business network participants based on sensor data (indicating, for example, service completion or product delivery), as well as micropayments between devices themselves in certain networks for functions and capabilities — all without human involvement.