An Assessment of Blockchain Consensus Protocols for the Internet of Things

Abstract

In a few short years the Internet of Things has become an intrinsic part of everyday life, with connected devices included in products created for homes, cars and even medical equipment. But its rapid growth has created several security problems, with respect to the transmission and storage of vast amounts of customers data, across an insecure heterogeneous collection of networks.The Internet of Things is therefore creating a unique set of risk and problems that will affect most households. From breaches in confidentiality, which could allow users to be snooped on, through to failures in integrity, which could lead to consumer data being compromised; devices are presenting many security challenges to which consumers are ill equipped to protect themselves from.Moreover, when this is coupled with the heterogeneous nature of the industry, and the interoperable and scalability problems it becomes apparent that the Internet of Things has created an increased attack surface from which security vulnerabilities may be easily exploited.However, it has been conjectured that blockchain may provide a solution to the Internet of Things security and scalability problems. Because of blockchain’s immutability, integrity and scalability, it is possible that its architecture could be used for the storage and transfer of Internet of Things data.Within this paper a cross section of blockchain consensus protocols have been assessed against a requirement framework, to establish each consensus protocols strengths and weaknesses with respect to their potential implementation in an Internet of Things blockchain environment.