Skip to Content

Sponsored

A Secure Model of IoT with Blockchain

The Internet of Things is a fast-growing, increasingly complex network of connected devices. This excerpt from an Open Mind article touches on blockchain as a way of securing this new ecosystem.
January 5, 2017

Provided byBBVA

As the Internet of Things (IoT) adds more and more devices to the digital fold every day, organizations of all sizes are recognizing the IoT's potential to improve business processes and, ultimately, accelerate growth. 

Meanwhile, the number and variety of IoT solutions has expanded exponentially, creating real challenges. Chief among them: the urgent need for a secure IoT model for performing common tasks such as sensing, processing, storing information, and communicating. But developing such a model involves overcoming numerous hurdles.

Of course, there are multiple ways of looking at the IoT. For instance, the system view divides the IoT into blocks, such as connected things, gateways, network services, and cloud services, while the business view consists of platform, connectivity, business model, and applications. But one common thread connects all these views: security is paramount.

A prime illustration of security's importance is the major distributed denial of service (DDoS) attack in October 2016. This massive assault affected millions of Internet addresses and temporarily crippled the servers of popular services such as Twitter, Netflix, and PayPal. One source of traffic for the attack: the countless IoT devices that had been infected and hijacked by Mirai, a simple malware program readily available online, and used against the servers.

The Blockchain Model

Blockchain's big advantage is that it's public. Everyone participating can see the blocks and the transactions stored in them. However, that doesn’t mean everyone can see the actual content of a transaction; that information is protected by a private key.

A blockchain is decentralized, so no single authority can approve transactions or set specific rules to have transactions accepted. As a result, the model involves a great deal of trust, as all the participants in the network must reach a consensus to accept transactions.

Most important of all, it’s secure. The database can only be extended; previous records cannot be changed—or, at least, there’s a very high cost if someone wants to alter previous records.

Read the full article here on Open Mind.

Keep Reading

Most Popular

transplant surgery
transplant surgery

The gene-edited pig heart given to a dying patient was infected with a pig virus

The first transplant of a genetically-modified pig heart into a human may have ended prematurely because of a well-known—and avoidable—risk.

Muhammad bin Salman funds anti-aging research
Muhammad bin Salman funds anti-aging research

Saudi Arabia plans to spend $1 billion a year discovering treatments to slow aging

The oil kingdom fears that its population is aging at an accelerated rate and hopes to test drugs to reverse the problem. First up might be the diabetes drug metformin.

Yann LeCun
Yann LeCun

Yann LeCun has a bold new vision for the future of AI

One of the godfathers of deep learning pulls together old ideas to sketch out a fresh path for AI, but raises as many questions as he answers.

images created by Google Imagen
images created by Google Imagen

The dark secret behind those cute AI-generated animal images

Google Brain has revealed its own image-making AI, called Imagen. But don't expect to see anything that isn't wholesome.

Stay connected

Illustration by Rose WongIllustration by Rose Wong

Get the latest updates from
MIT Technology Review

Discover special offers, top stories, upcoming events, and more.

Thank you for submitting your email!

Explore more newsletters

It looks like something went wrong.

We’re having trouble saving your preferences. Try refreshing this page and updating them one more time. If you continue to get this message, reach out to us at customer-service@technologyreview.com with a list of newsletters you’d like to receive.