7 The Role of Blockchain Technology in the Internet of Things
7.1 Blockchain Technology in IoT
IoT is reshaping incumbent industries into smart industries featuring data-driven decision-making. However, intrinsic features of IoT result in a number of challenges such as decentralization, poor interoperability, and privacy and security vulnerabilities. Blockchain technology brings the opportunities in addressing the challenges of IoT. Blockchain is essentially a perfect complement to IoT with its improved interoperability, privacy, security, reliability and scalability [1, 2]. A blockchain is a chain of blocks which contain information. Each block records all of the recent transactions, and once completed, that ...
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