“the Role Of Blockchain In Ensuring Energy Traceability”

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“the Role Of Blockchain In Ensuring Energy Traceability”

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The Growing Role Of Blockchain In Project Management

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By Abdelzahir Abdelmaboud Abdelzahir Abdelmaboud Scilit Preprints.org Google Scholar 1, * , Abdelmuttlib Ibrahim Abdalla Ahmed Abdelmuttlib Ibrahim Abdalla Ahmed Scilit Preprints.org Google Scholar 2 , Mohammed Abakers. Mohammed Abakers. Elfadil Eisa Taiseer Abdalla Elfadil Eisa Scilit Preprints.org Google Scholar 4 , Hashim Albasheer Hashim Albasheer Scilit Preprints.org Google Scholar 5, 6 , Sara Abdelwahab Ghorashi Sara Abdelwahab Ghorashi Scilit Preprints.org Google Scholar 7 and Faden Khalid Khalid 7 .

Mobile Cloud Computing Research Centre, Faculty of Computer Science and Information Technology, University of Malaya, Kuala Lumpur 50603, Malaysia

How Can Blockchain Technology Ensure Effective Data Governance In Healthcare Systems?

Department of Computer Science, College of Computer and Information Sciences, Princess Noora Bint Abdulrahman University, P.O. Box 84428, Riyadh 11671, Saudi Arabia

Received: 10 December 2021 / Revised: 25 January 2022 / Accepted: 27 January 2022 / Published: 18 February 2022

The Internet of Things (IoT) has become a popular computing technology paradigm. It is increasingly used to facilitate human life processes through various applications including smart healthcare, smart grids, smart finance and smart cities. Scalability, interoperability, security and privacy, as well as reliability are all issues facing IoT applications. Blockchain solutions will soon help overcome these difficulties. The purpose of this paper is to provide a review and tutorial on using blockchain in IoT systems. The importance of blockchain technology is discussed in terms of features and benefits for components of IoT applications. We propose a blockchain taxonomy for IoT applications based on the most important factors. Additionally, we explore the most widely used blockchain platforms for IoT applications. Furthermore, we discuss how blockchain technology can be used to expand the spectrum of IoT applications. Besides, we discuss the latest developments and solutions offered for IoT environments. Finally, we discuss the challenges and future research directions of blockchain application for IoT.

In recent years, the Internet of Things (IoT) has emerged as a new and significant technology in the computing paradigm. Market demand for smart devices is predicted to be worth trillions of pounds annually in the future, and almost all businesses will use some form of technology to improve their financial operations [1]. However, as important applications of IoT are rapidly increasing (for example, smart healthcare, smart grids, smart cities, and smart finance), they face many security and privacy challenges. In fact, in October 2016, the US internet was brought down by cyber attacks. The attacks targeted the servers of Dyn, the company that controls and operates the largest infrastructure of the Internet’s Domain-Name System (DNS). The company estimates that the attacks were launched from tens of thousands of IP addresses and that the attacks have grown in size. The attacks were caused by malicious software called Mirai, which affected web traffic received from IoT devices, including home routers, baby monitors, webcams and video recorders for digital use. According to Dyn’s estimate, Mirai attacks had a much broader scope than most distributed denial-of-service (DDoS) attacks, which have historically been able to reach 100,000 malicious endpoints [2].

Building A Transparent Supply Chain

As IoT attacks become more sophisticated, the threat vector grows. Therefore, blockchain technology plays an important role in addressing the security challenges and problems of using IoT [3, 4]. A blockchain system involves a type of large database used with many new computing technologies and protocols. Blockchain stores data on servers, which typically consist of large-scale computers with the storage space and computing power required for multiple users accessing the database simultaneously [5]. The first version of blockchain called Bitcoin was invented by Satoshi Nakamoto [6] in 2009. Bitcoin was set up as a stable, decentralized global currency that could be used as a medium of exchange for financial transactions. The blockchain concept uses a decentralized public ledger designed to permanently record transactions without requiring any authorization from third parties [6].

Vitalik Buterin created the first Cryptocurrency ‘Smart Contract’ in 2013. This system enables citizens to share value directly without intermediaries. Also, the ability of a smart contract to enforce or self-enforce contractual provisions is one of its most important features. Also, smart contracts have significantly helped the development of blockchain. The combination of automatically executed contracts in a trusted environment without centralized control has the potential to revolutionize the way business is conducted today. In addition, smart contracts and optimization rely on the mechanisms of IoT while reducing costs, whereas data security in IoT is ensured by time-series data and encryption. A blockchain network collects a lot of information and uses proper techniques to secure the data at a high level [3]. Smart contracts are increasingly used by businesses to reduce costs and improve efficiency [7].

Blockchain technologies, such as distributed ledger technology, have provided benefits to companies that require greater trust in the execution of their key transactions. In fact, blockchain is a distributed ledger technology that differs from standard distributed ledger technology in terms of storage mechanisms and data types. As a result, blockchain technology realizes privacy and security requirements and ensures the validity and security of data. Besides, record sets are a new thing in the ledger that secures connected devices. In blockchain, there is no such thing as master or slave; Each device has equal authority and a copy of the entire chain. A private or public blockchain can be used to implement the blockchain ledger. The application of the public ledger extends the benefits of blockchain beyond financial services to all aspects of daily life, and blockchain technologies have recently been explored in areas such as healthcare, transportation, and energy. Enterprise blockchain market value is expected to grow from $4.6 billion in 2018 to $20.3 billion by 2025, with finance and manufacturing dominating the blockchain market [8].

Consensus mechanisms are required for the integrity of the information stored on blockchains and protection against double attacks and are thus an essential component of blockchain technology. The ultimate goal is to build consensus in a dispersed network with no central authorities and participants who may or may not trust each other. Therefore, multiple consensus processes are possible with blockchain, and data privacy is achieved through cryptography and segmentation [3].

Does The Metaverse Need Blockchain To Ensure Widespread Adoption?

Asymmetric encryption algorithms are used to encrypt data on the blockchain. In blockchains, this asymmetric encryption is used for data encryption and digital signatures. Data encryption on the blockchain ensures transaction data security and reduces the risk of data loss or falsification. The transaction data is sent over the network and digitally signed to show the identity of the signer and whether the transaction was authenticated. In a blockchain system it is not necessary to reveal the true identity of the node associated with the participant. This feature is problematic because it indirectly facilitates criminal activities such as money laundering, but also protects the privacy and security of participants. Blockchain technology’s decentralization and data encryption make it ideal for building distributed security systems. IoT security is enhanced by blockchain. Blockchain’s decentralization creates a secure environment for IoT and creates a fully distributed system [9].

Blockchain technologies are used in many situations in many fields, including IoT applications such as data storage, identity management, time stamps, sensors, supply chain management, and everyday life applications including smart healthcare and smart homes. Using blockchain technologies is a promising solution to many problems in IoT applications, thus attracting the attention of academia and industry aiming to develop and integrate blockchain technologies into IoT applications [10]. This paper focuses on recent developments in blockchain technologies and properties, considering their applicability to IoT applications. Key contributions of this article

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