Overview of IoT Security Challenges, Authentication, Encryption and Blockchain Solution

Abstract

The modern world is experiencing a new industrial revolution, known as industry 4.0, where machines, storage systems and other production facilities are capable of operating, exchanging information and triggering actions autonomously and independently. The growth of IoT is playing a key role in industry 4.0. However, the rapid increase in the number of IoT devices also raises serious concern about its effect on cybersecurity and privacy as these devices are typically limited in processing power, storage and network capacity, and therefore vulnerable to attacks. This thesis paper surveys and presents major challenges for IoT security and available methods to protect the IoT system from being hacked or compromised. The security risks were reviewed, existing attacks and threats were categorised based on what layer in the IoT architecture they may affect and their motives. For the solution, the best and widely accepted methods for authenticating and encrypting data were presented. A new approach in IoT security with emerging technology, blockchain, is discussed. There is not any perfect solution to solve all security issues. Therefore, the thesis explains the pros and cons of each method that IoT developers need to put in consideration before choosing the right method for their own system. However, recommendations are also given based on the research results.