The security issues with Internet of Things can be solved through blockchain technology. You must have seen and heard this word a lot in the recent past making headlines everywhere in connection to the current craze surrounding cryptocurrencies. With the recent ‘thingbot’ attack last year which is known as Mirai attack on the Dyn DNS hosting servers it became clear that IoT devices are vulnerable to virus attack and need better security. Moreover, it’s challenging to authenticate IoT devices because of their weak computing power that makes it a challenge to track their activity over time.
These security issues with IoT devices has shifted everyone’s attention from the benefits of their high efficiency and enriching data to a deep-rooted concern for the potential security threats they pose. One problem that arises with securing IoT devices is the methods used are based on a centralized, information-based model for authorization and authentication of devices. Though this model works perfectly to secure limited number of IoT devices involved in a small-scale network, it becomes challenging for any blockchain development company to secure devices connected in larger networks, which is where blockchain technology is helpful.
How Does It Work?
We all know blockchain is based on a distributed ledger of verified transactions that are impossible to break through unlike the centralized, information-based model for managing access. Though it is a public system but there are ways to make a blockchain system private and permissioned suited to secure IoT devices. A private and permissioned blockchain system would register all the connected IoT devices in a private ledger. Any new device that requires access would have to do get approved after a security screening process which eliminates the chances of any alien devices from getting access and hacking the system. Reason app developers are now learning blockchain development.
What Are The Benefits of Incorporating Blockchain with IoT Devices?
Because blockchain authentication process works on peer-to-peer communication, one of the main benefits of using this technology to secure IoT devices is the ability to set one security standard across the board for all devices of the same type. Doing so also ensures IoT devices’ data mining and processing is secured. Since data processing by IoT devices may be considered complex because they need to stay in constant communication with the network it becomes easier to enable direct and verified device-to-device communication. This way blockchain technology eliminates the issues associated with full automation fo data mining processes across the network.
Ultimately blockchain technology saves companies and businesses bucks that they otherwise spend on various technologies for data mining. Our software development company is working on blockchain products.
Although the blockchain technology is just started to being explored, it is quite clear that a distributed, trust-based authentication model instead of a centralized, information-based model is a better way to secure IoT devices. The latter model inhibits automated authentication of IoT devices and allows hackers to find a point of weakness within the network and exploit it.