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Abstract

Blockchain and the Internet of Things (IoT), two of the most emerging technologies, are alreadyreconfiguring our digital future, as described by the drastic change in the current network architecture. Theincorporation of IoT has brought the objects around us to life, making them “smart” and capable of communicatingwith one another, thereby amassing massive data by consistently acquiring the physical world for analysis andintelligent action. It has made our dream of seamless integration of the digital and physical worlds a reality, alteringthe essence of our perception of the physical world. However, the issue with current IoT solutions is the requirementfor a centrally controlled party (similar to a cloud server). This research covers the most essential implications ofIoT’s most challenging scenarios, as revealed by the current studies, when connecting and communicating via theInternet. The vast amounts of generated sensitive data pose a significant risk to privacy and security; interestingly,the original architecture design calls for a decentralized system, such as the distributed or peer-to-peer (P2P) system.This scenario highlights the relevance of the blockchain, as it can offer a secure and trustworthy method of sharinginformation via a distributed/P2P model for achieving transparency, security, privacy, auditability, resilience, accessauthentication, data immutability, and so on. In this study, we explain how blockchain and IoT technologies arecombined to overcome their specific shortcomings and ultimately achieve their maximum benefits. This researchalso discusses the technical aspects of IoT and bitcoin. We present a comprehensive overview of both technologies,including the blockchain-based IoT (BIoT) architecture and operation, and a few examples of BIoT applications andtheir comparison.

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