YOU KNOW BY now that Internet of Things devices like your router are often vulnerable to attack, the industry-wide lack of investment in security leaving the door open to a host of abuses. Worse still, known weaknesses and flaws can hang around for years after their initial discovery.
A variant of the Mirai botnet was used to launch a series of distributed denial of service campaigns against financial sector businesses. The attacks utilized at least 13,000 hijacked IoT devices generating traffic volumes up to 30 Gbps, considerably less intense than the original Mirai assaults clocked at 620 Gbps.
Several technology conglomerates, such as IBM, are focused on developing centralized blockchain networks or permissioned ledgers. With the implementation of permissioned blockchain networks, there is a definite trade-off between security and flexibility.
Israeli startup Securithings has developed an IoT security system that it claims can address one of the biggest challenges of IoT security: securing networks comprising large numbers of relatively simple devices that lack more than the most basic security features.
It’s clear that the IoT provides a wealth of business and marketing opportunities for operators. But to ensure it’s not a short-lived fad, security must be taken seriously.
Businesses and smart homes can now afford a smile after the announcement of the IoT Chain (ITC) blockchain. Blockchain technology has offered quite a lot of practical solutions to a number of challenges and IoT Chain solves the problems experienced with the interconnection of IoT devices is a major boost.
For most IoT hardware manufacturers, security has been an afterthought. This forces them to retrofit devices after the fact, with solutions to address malicious entities when they are discovered. It is an expensive, time-consuming and ineffective approach.