Cryptology ePrint Archive: Report 2021/1551

Blockchain for IoT: A Critical Analysis Concerning Performance and Scalability

Ziaur Rahman and Xun Yi and Ibrahim Khalil and Andrei Kelarev

Abstract: The world has been experiencing a mind-blowing expansion of blockchain technology since it was first introduced as an emerging means of cryptocurrency called bitcoin. Currently, it has been regarded as a pervasive frame of reference across almost all research domains, ranging from virtual cash to agriculture or even supply-chain to the Internet of Things. The ability to have a self-administering register with legitimate immutability makes blockchain appealing for the Internet of Things (IoT). As billions of IoT devices are now online in distributed fashion, the huge challenges and questions require to addressed in pursuit of urgently needed solutions. The present paper has been motivated by the aim of facilitating such efforts. The contribution of this work is to figure out those trade-offs the IoT ecosystem usually encounters because of the wrong choice of blockchain technology. Unlike a survey or review, the critical findings of this paper target sorting out specific security challenges of blockchain-IoT Infrastructure. The contribution includes how to direct developers and researchers in this domain to pick out the unblemished combinations of Blockchain enabled IoT applications. In addition, the paper promises to bring a deep insight on Ethereum, Hyperledger blockchain and IOTA technology to show their limitations and prospects in terms of performance and scalability.

Category / Keywords: applications / Distributed Ledger and Public Consensus and Blockchain

Original Publication (in the same form): Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering

Date: received 25 Nov 2021

Contact author: zia at iut-dhaka edu

Available format(s): PDF | BibTeX Citation

Note: Published in the Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering. Supported by RMIT Uni RTS Fund

Version: 20211129:122030 (All versions of this report)

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