Resolving IoT Security Issues with Blockchain Technology

Posted by Indrajeet on February 12th, 2020

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 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 behaviour 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.  

HyberLedger Fabric is the ideal blockchain platform for building an independent Root of Trust (RoT) to defend IoT devices. It prevents cyber-attacks like Advanced Persistent Threats (APTs).

Cyber-Trust is an innovative security service platform that detects and mitigates risks and secures the entire ecosystem of IoT devices. The platform uses distributed ledger technology to reduce hackers ability to tamper with legacy IoT devices. It offers resilience to stakeholders assets against large-scale and advanced cyber-attacks. 

Devices with poor configuration and flawed design are weaknesses attackers use to disrupt the entire IoT ecosystem. Let’s dig in how blockchain can prevent the security of IoT: 

Implementing blockchain to IoT solutions is effective to comply with confidentiality, authenticity, integrity, and non-repudiation requirements.   

Offers Highly Secure Environment: Blockchain creates highly secure, time-stamped and immutable database entry of every transaction. The transactions are easily traceable and irreversible and prevent fraud, double entries, abuse, and other manipulations. 

Prevents Data Distortion:  False positives or bad data due to outdated algorithms or security measures leads to additional costs for companies. Blockchain platforms have cryptography algorithms that address the security issues of IoT. A decentralized blockchain network filters data with verification and prevents tampering. Blockchain’s distributed ledger technology(DLT) approves data transfer and establishes guidelines for them. Cryptography algorithms prevent data distortion to improve security.

Successful Tracking: Every block within a secure blockchain network is identified by a hash which connects it to the previous block in the blockchain. It eliminates the possibility of inserting an intermediate block on the database to maintain a genuine record. The amalgamation of Blockchain and IoT ensures quick processing and tracking of multiple transactions in tandem. It can efficiently gather and process data generated by a large number of smart devices. 

Implementing distributed file sharing, peer-to-peer messaging, and autonomous device coordination functions in blockchain development solutions can strengthen IoT security. Blockchain secures all data exchanges with decentralization. As the access control, network traffic, and, the data cannot be fetched from a single point, hackers find it difficult to exploit vulnerabilities. Adopt cybersecurity standards for your organization using blockchain and protect your systems from external attacks. 

Looking for a secure IoT solution for your business? Contact Oodles Technologies, we are a seasoned IoT App Development company. We provide enterprise-grade and consumer IoT applications that harness the power of machine learning and advanced analytics. Our IoT solutions provide business efficiency and improved services. We build smart products including home automation, security systems, industrial IoT and more. Contact us today!

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