Blockchain‐IoT: A revolutionary model for secure data storage and fine‐grained access control in internet of things

Abstract With the rapid expansion of the Internet of Things (IoT), cloud storage has emerged as one of the cornerstones of data management, facilitating ubiquitous access and seamless sharing of information. However, with the involvement of a third party, traditional cloud‐based storage systems are plagued by security and availability concerns, stemming from centralized control and management architectures. A novel blockchain‐IoT model that leverages blockchain technology and decentralized storage mechanisms to address these challenges is presented. The model combines the Ethereum blockchain, interplanetary file system, and attribute‐based encryption to ensure secure and resilient storage and sharing of IoT data. Through an in‐depth exploration of the system architecture and underlying mechanisms, it is demonstrated how the framework decouples storage functionality from resource‐constrained IoT devices, mitigating security risks associated with on‐device storage. In addition, data owners and users can easily exchange data with one another through the use of Ethereum smart contracts, fostering a collaborative environment and providing incentives for data sharing. Moreover, an incentive mechanism powered by the FileCoin cryptocurrency is introduced, which motivates and ensures data sharing transparency and integrity between stakeholders. Furthermore, in the proposed blockchain‐IoT model, the proof‐of‐authority system consensus algorithm has been replaced by a delegated proof‐of‐capacity system, which reduces transaction costs and energy consumption. Using the Rinkby Ethereum official testing network, the proposed model has been demonstrated to be feasible and economical, emphasizing its potential to redefine IoT data management.