Towards an Optimized BlockChain for IoT

There has been increasing interest in adopting BlockChain (BC), that underpins the crypto-currency Bitcoin, in Internet of Things (IoT) for security and privacy. However, BCs are computationally expensive and involve high bandwidth overhead and delays, which are not suitable for most IoT devices. This paper proposes a lightweight BC-based architecture for IoT that virtually eliminates the overheads of classic BC, while maintaining most of its security and privacy benefits. IoT devices benefit from a private immutable ledger, that acts similar to BC but is managed centrally, to optimize energy consumption. High resource devices create an overlay network to implement a publicly accessible distributed BC that…