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IoT and Blockchain: Challenges and Risks

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The Internet of Things (IoT) is an ecosystem of ever-increasing complexity; it’s the next wave of innovation that will humanize every object in our life, and it is the next level of automation for every object we use. IoT is bringing more and more things into the digital fold every day, which will likely make IoT a multi-trillion-dollar industry in the near future. To understand the scale of interest in the internet of things (IoT), just check how many conferences, articles, and studies have been conducted about IoT recently. This interest has hit fever pitch point in 2016 as many companies see big opportunity and believe that IoT holds the promise to expand and improve businesses processes and accelerate growth. However, the rapid evolution of the IoT market has caused an explosion in the number and variety of IoT solutions, which created real challenges as the industry evolves, mainly, the urgent need for a secure IoT model to perform common tasks such as sensing, processing, storage, and communicating. Developing that model will never be an easy task by any stretch of the imagination, there are many hurdles and challenges facing a real secure IoT model.

The biggest challenge facing IoT security …

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