If we take the discussion to smart homes, this is again relevant and the probability would be even higher. For smart homes to function well on IoT, they would have a small server set-up locally and it will be easy for a hacker to take control of it exposing every bit of your personal information.But if we can decentralize the data and improve the connectivity between the devices, we can overcome these problems. This is where Blockchain comes into play.
Blockchain technology is the missing link to secured communication in IoT. By adding Blockchain, we can have a secured mesh network that will allow IoT devices to interconnect reliably and avoid the threats that are prevalent in central server models. This decentralized approach would eliminate single point of failure, creating a more resilient ecosystem for devices to run on. The cryptographic algorithm in Blockchain would make data more private.Moreover, the ledger developed by Blockchain is temper-proof and cannot be altered by malicious actors because it doesn’t exist in any single location. Man-in-the-middle cannot happen as well as there is no single line of communication. Blockchain makes peer-to-peer communication possible and bitcoins are a great proof of it.