Using Blockchain Technology to Strengthen IoT Security

The advent of the internet of things (IoT) has presented the IT sector with a world of opportunities. IoT enabled devices to provide real-time contextual information and reduce the overhead cost by automatically optimizing processes. It also aligns various operational tasks to improve coordination between individuals. Intelligent IoT devices are used in homes, offices, and public areas for entertainment, security, and automation purposes. Demand for interconnected IoT devices has exceeded 8.6 billion since 2018 and it is anticipated to increase to 22 billion by 2024.

IoT Security Challenges

IoT devices transmit large chunks of data across different networks, machine devices, integrated solutions, and platforms. The data passes through various administrative boundaries that may hamper data management and affect the functioning of IoT systems. IoT devices provide new opportunities with innovative features but require additional mechanisms to ensure security. Their vulnerability provides cybercriminals with the opportunity to elude systems and create backdoors within organizations’ IT infrastructure.

On October 21, 2016, Mirai botnet malware was used to launch massive internet outage in Europe and the US. The malware brought down various sites including Twitter, Reddit, CNN, the Guardian, and more. Mirai attacked online customer devices like home routers or IP cameras.

Measures Taken to Protect IoT Security

Shodan and IoTSeeker are two tools designed to detect IoT device vulnerabilities.

Shodan is the world’s first search engine for webcams, refrigerators, security, the Internet of Things, power plants, buildings, the Web, and more. Shodan discovers which of your devices are connected to the internet, who is using them and where they are located. Its servers are located around the world and are used for crawling the internet 24/7. Shodan provides the latest internet intelligence to prevent hackers from infiltrating IoT devices.

IoTSeeker is an open-source tool designed to detect IoT devices using the default, factory-set credentials. It enables organizations to scan their networks and detect how many manufacturers or vendors are still using default factory settings in their IoT devices.

Using Blockchain Development Solutions

Integrating blockchain technology in IoT development solutions provides a more promising security mechanism. Hackers attempt to exploit the vulnerabilities in routers and switches of IoT devices to alter the functioning of IoT devices. With blockchain, the devices form a group consensus regarding normal occurrences in the given network. The devices gain smart capabilities to lock down when suspicious behavior occurs at any node. The data exchange between the IoT devices is also protected by achieving near real-time data transmissions. Thus staging an attack is really hard and the systems or IoT devices can be protected against hacking attempts.

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