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Blockchain (BC), a by-product of Bitcoin cryptocurrency, has gained immenseand wide scale popularity for its applicability in various diverse domains -especially in multifaceted non-monetary systems. By adopting cryptographictechniques such as hashing and asymmetric encryption - along with distributedconsensus approach, a Blockchain based distributed ledger not only becomeshighly secure but also immutable and thus eliminates the need for anythird-party intermediators. On the contrary, innumerable IoT (Internet ofThings) devices are increasingly being added to the network. This phenomenonposes higher risk in terms of security and privacy. It is thus extremelyimportant to address the security aspects of the growing IoT ecosystem. Thispaper explores the applicability of BC for ensuring enhanced security andprivacy in the IoT ecosystem. Recent research articles and projects orapplications were surveyed to assess the implementation of BC for IoT Securityand identify associated challenges and propose solutions for BC enabledenhanced security for the IoT ecosystem.

Integration of Blockchain and IoT: An Enhanced Security Perspective