Towards Blockchain for Suitable Efficiency and Data Integrity of IoT Ecosystem Transactions
Keywords:Blockchain, IoT, ecosystem, Transactions
This article analyzes the effectiveness of deploying the Blockchain technology in the implementation of the IoT ecosystem database. To this end, we assess the processing efficiency of transactions originated by smart devices and the stored data integrity. The processing-efficiency evaluation is carried out through queue-theory-based analytical modeling, in which the average time for transaction confirmation is estimated. By its turn, the data-integrity is measured by simulations, where the probability of fraudsters altering already-stored data is estimated. Moreover, the experiments consider a set of scenarios related to different application domains. Final results show that the Blockchain technology may meet IoT efficiency requirements, besides providing adequate data integrity. Lastly, general conclusions and avenues for further research close this article.