Integrating Smart Contracts in IoT Networks Powered by Blockchain Technology

• Published in: 2024 3rd International Conference for Innovation in Technology (INOCON) pp. 1 - 6
• Main Authors: Sengupta, Pompi Das, Chauhan, Aakriti, K N, Raja Praveen
• Format: Conference Proceeding
• Language: English
• Published: IEEE 01-03-2024
• Subjects: Authentication; Block chain; Blockchains; Channels; Encryption; Integrating; Internet; Revolutionizing; Safety; Smart contracts; Structure; Technological innovation; Trustless services; Understanding; Validation
• DOI: 10.1109/INOCON60754.2024.10511631

integrating smart contracts into the Internet of Factors (Iota) networks powered by using block chain technology presents a unique set of challenges and possibilities. Smart contracts offer an automatic technique to facilitate transaction processing and facilitate cozy and reliable statistics sharing across the dispensed Iota community. At the same time, understanding the safety implications of this technology, techniques for addressing such implications, and sensible answers for integration remains an ongoing region of research. Block chain technology is revolutionizing the structure of the Iota. By utilizing clever contracts, block chain can enable trustless, relaxed verbal exchange channels and automatic validation of transactions. It presents a unique method for safely storing, authorizing, and sharing information throughout numerous distributed nodes. Smart contracts also allow the cost-powerful and cozy execution of multiple clever contracts at the identical Iota network. The security of any Iota gadget is substantially impacted by using the integration of clever contracts. This integration calls for the addressing of troubles related to scaling, failure control, and machine integrity. It additionally calls for the robust encryption of records and the authentication of requests through virtual signatures.