Examining the Viability of Integrating Blockchain Technology into IoT Devices for the Supply Chain

Preview this chapter:

Examining the Viability of Integrating Blockchain Technology into IoT Devices for the Supply Chain, Page 1 of 1

< Previous page | Next page > /docserver/preview/fulltext/9789815324099/chapter-8-1.gif

Decentralized solutions with many benefits over centralized systems are something that blockchain and IoT can provide. IoT devices may guarantee the accuracy and dependability of their data by utilizing the blockchain's fault tolerance, security, and data transparency. However, there are difficulties when implementing blockchain in IoT systems, particularly with consensus procedures. Dup>A recent paper suggests an empirical method for implementing blockchain in supply chain scenarios to overcome these issues. The report also proposes a customized Raft consensus algorithm for use with the Hyperledger permissioned blockchain. Each transaction in this updated protocol is sent to a leader node before being relayed to follower nodes in order to prevent a bottleneck from affecting the system's scalability and throughput. The supply chain context is one where this strategy can be especially useful.

Overall, the paper addresses some of the issues related to consensus protocols while highlighting the potential advantages of combining blockchain and IoT in supply chain contexts. By assuring data integrity and eliminating fraudulent actions, this technique can make managing supply chain data more secure, transparent, and effective.