A Technical Seminar

On

Block-Chain for IoT

By
Ayushi Jain
15H61A05C6

Under the guidance of

Mr. G. Balram
Assistant Professor
Department of CSE
Abstract
Blockchain technology has been transforming the financial industry and
has created a new crypto-economy in the last decade. The foundational
concepts such as decentralized trust and distributed ledger are promising
for distributed, and large-scale Internet of Things (IoT) applications.
However, the applications of Blockchain beyond cryptocurrencies in this
domain are few and far between because of the lack of understanding
and inherent architectural challenges. Here, the attempt has been made
to describe the opportunities for applications of blockchain for the IoT
and examine the challenges involved in architecting Blockchain-based IoT
applications.
Agenda
1. Abstract
2. Introduction
3. What is Blockchain
4. How does it work?
5. Blockchain Characteristics
6. Blockchain Applications
7. What is Internet of Things?
8. How does it work?
9. Opportunities
10. Challenges
11. Conclusions
12. References
Introduction

Enabling decentralized trust through a consensus protocol and distributed storage

through a tamper-proof ledger are the critical features of the Blockchain
technology. Any application that involves multiple stakeholders can benefit from
these features because it enables transparent interactions without requiring a
trusted third party. IoT applications in the context of smart cities and supply
chain management consist of numerous stakeholders, where the Blockchain
technology can be used to strengthen the confidence among the involved entities
and organizations.
What is Blockchain?
 Blockchain is a distributed, decentralized, public ledger
 At its most basic level, blockchain is literally just a chain of blocks.
 A single block on the blockchain can actually store up to 1 MB of data.
 “Blocks” on the blockchain are made up of digital pieces of information.
Specifically, they have three parts:
o information about transactions
o information about who is participating in transactions
o information that distinguishes them from other blocks i.e. Hash codes
How does it work?
When a block stores new data it is added to the blockchain. In order for a block to
be added to the blockchain, however, four things must happen:
o A transaction must occur
o That transaction must be verified
o That transaction must be stored in a block
o That block must be given a hash

 Anyone can view the contents of the blockchain

 Each computer in the blockchain network has its own copy of the blockchain,
which means that there are thousands of copies of the same blockchain.
 After a block has been added to the end of the blockchain, a unique hash code is
assigned to each block.
 Each block stores it’s hash code and previous block’s hash code.
Blockchain Characteristics

 Decentralized
 Secure
 Consensus
 Immutability
 Provenance
Blockchain Applications
 Cryptocurrency
 Supply Chain Management/IoT
 Digital IDs
 Copyright and Royalty protection
 Medical Record Keeping
What is Internet of Things?
The internet of things, or IoT, is a system of interrelated computing devices,
mechanical and digital machines, objects, animals or people that are provided
with unique identifiers and the ability to transfer data over a network without
requiring human-to-human or human-to-computer interaction.
A thing in the internet of things can be a person with a heart monitor implant, a
farm animal with a biochip transponder, an automobile that has built-
in sensors to alert the driver when tire pressure is low or any other natural or
man-made object that can be assigned an IP address and is able to transfer data
over a network.
How does it Work?
Opportunities

 Privacy/anonymity
 Monetary exchange of data and compute
 Record transactions
 Smart Contracts
Challenges

 Resource Constraints
 Bandwidth Requirements
 Security
 Latency Demands
 Physical Interface weakness
Conclusion

Blockchain technology has already made a significant impact in the

cryptocurrency applications. The fundamental building blocks - distributed
ledger, consensus mechanisms, and public-key cryptography - of blockchain
technology is promising for IoT and supply chain monitoring applications. Despite
the challenges, blockchain technologies are highly promising for resolving
security, privacy, and trust issues in multi-stakeholder application environments.
References

 https://www.investopedia.com/terms/b/blockchain.asp
 https://www.youtube.com/watch?v=TdLNDWb_GN4
 https://link.springer.com/article/10.1007/s12599-017-0505-1
 https://www.sciencedirect.com/science/article/pii/S0167739X17315765
 https://www.internetsociety.org/resources/doc/2015/iot-overview
 https://dev.to/damcosset/the-4-characteristics-of-a-blockchain-2c55