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3 Blockchain Patterns That Can Ensure Security for IoT

Image source:Statecraft

The Internet of things (IoT) and blockchain are among the latest buzzwords with steadily increasing popularity since the time of their creation. It’s no exaggeration when we say that the IoT is soon going to be a part of our day-to-day activities to make lives easier and more convenient.

In this article, we’ll explore the possibilities further by discussing three unique blockchain design patterns that companies can deploy based on the use of wallets, which contain public and private keepers to create and access user data.

Let’s get to it!

To ensure this happens, companies can deploy either of the following blockchain patterns:

Under this blockchain pattern, all data and control flows are centrally managed by the platform tier. In other words, it’s the central platform that makes all the decisions and controls the wallet.

For instance, the central platform will monitor the data coming in from the vehicles in the field and then log it in the time-series database of the platform. The unique thing here is that only vital events are logged into the system to prevent blockchain overload.

In this case, it‘s assumed that every asset has an embedded wallet to sign and access its data on the blockchain. The other belief is that the embedded wallet will be the only way to get access to the data related to every asset.

The problem with this blockchain pattern is that it needs custom hardware that can be quite expensive. In addition to this, even the development and maintenance cost is relatively high due to the fully distributed nature of the system.

The specialty of this blockchain pattern is that you can integrate it into either of the two above patterns. Having a smart contract allows the independent execution of business logic between stakeholders, while simultaneously embedding business logic into the blockchain.

Both the logged data and the business logic become tamper-proof due to the distributed and cryptographic nature of blockchain. The execution will only take place if the maturity of distributed nodes in the blockchain is in agreement about the outcome of a specific decision.

As you can see, all these three patterns are certainly unique and can be helpful for promoting the security of the overall IoT system, irrespective of the industry niche. This system of innovative compliant integration and distributed ledger technology can be useful for keeping imminent threats at bay.

In the case of IoT, the sender digitally signs the message before sending it to other devices. The receiving device is then allotted a public key from the ledger and then uses it for verifying the digital signature of the message received. It’s a whole process that can be useful for authenticating the involved parties, keeping the message confidential.

This is precisely why security measures need to be taken to the next level. In this case, an IoT device can send an encrypted message using the public key of the destination device before storing it in the blockchain network. The sender then asks its network node to get the public key of the receiver of the ledger and then encrypts the message using the public key of the receiver. Hence, only the receiver will be able to decrypt the message through his private key.

Plus, IoT devices with a blockchain network eliminates any single authority. This gives every connected device a copy of the ever-growing chain of data. A transaction is stored in a block only after it’s been validated and is then passed on to the other nodes of the network. All of this helps to make our IoT systems more secure, blocking any unauthorized access and making security breaches nearly impossible.

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