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Blockchains and Smart Contracts for the Internet of Things
Open accessAbstract
Motivated by the recent explosion of interest around blockchains, we examine whether they make a good fit for the Internet of Things (IoT) sector. Blockchains allow us to have a distributed peer-to-peer network where non-trusting members can interact with each other without a trusted intermediary, in a verifiable manner. We review how this mechanism works and also look into smart contracts-scripts that reside on the blockchain that allow for the automation of multi-step processes. We then move into the IoT domain, and describe how a blockchain-IoT combination: 1) facilitates the sharing of services and resources leading to the creation of a marketplace of services between devices and 2) allows us to automate in a cryptographically verifiable manner several existing, time-consuming workflows. We also point out certain issues that should be considered before the deployment of a blockchain network in an IoT setting: from transactional privacy to the expected value of the digitized assets traded on the network. Wherever applicable, we identify solutions and workarounds. Our conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.
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“A small integration test based on this platform was performed, but it did not meet all our expectations. Mainly it was because of the lack of support for smart contracts [42], [43].”
From A Trusted Approach for Decentralised and Privacy-Preserving Identity Management (2021) · cites this paper as [43]
In the citing paper
“The existing 5G technology infrastructure has remained unsolved challenges in terms of security, networking and computing performance degradation due to its centralized architecture [46].”
From Blockchain for 5G and beyond networks: A state of the art survey (2020) · cites this paper as [46]
In the citing paper
“Various works to develop secure light-weight IoT architecture based on the blockchain technology have been proposed in the literature [178-180].”
From A Review of Blockchain Architecture and Consensus Protocols: Use Cases, Challenges, and Solutions (2019) · cites this paper as [180]
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Metadata
- Authors
- Christidis, K., & Devetsikiotis, M.
- Affiliations
- North Carolina State University (US)
- Venue
- IEEE Access
- Published
- 2016
- Volume
- 4
- Pages
- 2292-2303
- ISSN
- 2169-3536 (ISSN-L)
- OpenAlex
- W2392113277
- Cited by
- 4,552
- References
- 21
- Citations by year
- 2026: 263 · 2025: 426 · 2024: 411 · 2023: 456 · 2022: 496 · 2021: 629 · 2020: 697 · 2019: 654 · 2018: 391 · 2017: 124 · 2016: 5
- FWCI
- 872.64
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Locations
- IEEE Access (publishedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Topics
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology in Education and Learning
- Physical Sciences › Computer Science › Computer Networks and Communications › IoT and Edge/Fog Computing
- Keywords
- blockchain, smart contracts, Internet of Things, peer-to-peer networks, service market, resource sharing, workflow automation, distributed applications, business models
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