Figure 1. Statista report of connecting devices between 2015-2025
[1]
The blockchain is considered as validating and selecting a chain of
blocks. Every IoT node is able to perform validation and selection
criteria. The transactions fired by the IoT node are converted into
blocks. The blocks are transmitted to the public network and this block
will reach every IoT node but this block will be selected by the valid
node and verify the hash code. The hyper ledger stores the transaction
records publicly with security. Every transaction is digitally signed
before transmitting to the network. So, the transactions are much more
secured that shows its authenticity and integrity of the Hyperledger.
The following points can be considered for the blockchain:
i) A blockchain is a decentralized, public, distributed and secure
database among IoT nodes.
ii) Each IoT node has the ability to validate the blocks.
iii) Sometimes some IoT nodes (Miners) are considered as a controller in
the block chains.
iv) The peer-to-peer topology is used in blockchains.
v) The hyper ledger stores all recorded transactions. The blockchains
update after recorded.
vi) BT is always on. No any IoT node off the BT.