Applicability of Blockchain smart contracts in securing Internet and IoT: A systematic literature review

Abstract

Abstract In the recent decade, there has been an exponential rise in the development and study of Blockchain Technology space. The driving force behind the interest in Blockchain research has been its key characteristics that provide security, anonymity, and integrity without relying on trusted third party organizations. Initially, Blockchain usage was restricted to cryptocurrencies only, however, with the advent of Ethereum that supports creation and execution of smart contracts (small computer programs that run on Blockchain), applications beyond cryptocurrencies are being developed and explored. Although there has been substantial progress towards improving Blockchain technology with a focus on the smart contracts, however, it was identified that there is a lack of descriptive review on the applicability of smart contracts in securing the Internet and IoT. This paper aims to identify and analyse peer reviewed literature that seeks to use Blockchain smart contracts for securing Internet in general and Internet of Things in particular and presents the systematic analysis of the identified literature. Finally, the paper highlights some challenges and future research directions in the field of Blockchain smart contracts application in securing Internet and IoT.