Abstract:
By 2025, smart applications will connect over 75 billion devices to the IoT ecosystem. Sensors provide data, and applications pay data producers. IoT payments and marketplaces enable billions of connected devices to make micro-transactions in the heterogeneous, decentralized, and diverse IoT ecosystem. Realizing such an ecosystem requires overcoming poor interoperability, resource constraints, and IoT device and platform security and privacy vulnerabilities. Distributed Ledger Technology (DLT) like blockchain may help realize IoT payments and marketplaces. Blockchain has decentralization, traceability, immutability, and non-repudiation. This paper reviews blockchain-based IoT payments and marketplaces. This paper briefly introduces IoT payments and marketplaces. Then blockchain-based solutions are used to discuss IoT payment and marketplace technical challenges. Blockchain-based smart applications that use IoT marketplace and payment concepts are also shown. The paper then discusses integration challenges and solutions. This paper will illuminate blockchain-based IoT payments and marketplaces.
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