A private-preserved IoT and blockchain-based system in the cryptocurrency market

Abstract

In recent years, more and more cryptocurrency markets have adopted Internet of things (IoT) technology, with adoption rates steadily increasing since 2020. Industries that have seen significant growth in adoption include manufacturing, transportation, and public spaces. IoT connects all objects to the Internet through information sensing devices, enabling information exchange and intelligent identification and management of things. This has led to a wide range of applications. While blockchain technology addresses the centralization issue of traditional IoT systems, privacy leakage remains a key challenge for implementing smart supply chain management using IoT. We present privacy-preserving techniques to enable secure IoT trading. First, we propose a blockchain architecture based on post-quantum cryptography to securely store data and information. Second, we propose a post-quantum mixed currency mechanism for enhanced privacy protection. Third, we propose a blockchain-based IoT architecture designed for secure trading. By integrating blockchain, mixed currency approaches, and post-quantum techniques, we develop a blockchain-based IoT trading system. We implement this system within cryptocurrency markets. Our implementation and comparison with related solutions demonstrate that the system provides secure services for IoT trading.