Blockchain Enabled Enhanced IoT Ecosystem Security

Blockchain (BC), the technology behind the Bitcoin crypto-currency system - is starting to be adopted for ensuring enhanced security and privacy in the Internet of Things (IoT) ecosystem. Fervent research is currently being fo-cused in both academia and industry in this domain. Proof-of-Work (PoW), a cryptographic puzzle, plays a vital rôle in ensuring BC security by maintaining a digital ledger of transactions, which are considered to be incorruptible. Fur-thermore, BC uses a changeable Public Key (PK) to record the identity of users –thus providing an extra layer of privacy. Not only in crypto-currency has thesuccessful adoption of the BC been implemented, but also in multifaceted non-monetary systems, such as in: distributed storage systems, proof-of-location and healthcare. Recent research articles and projects/applications were surveyed to assess the implementation of the BC for IoT Security and identify associated challenges and propose solutions for BC enabled enhanced security for the IoT ecosystem