A Survey of Blockchain Enabled Cyber-Physical Systems

Abstract

Cyber-physical systems (CPS) is a setup that controls and monitors the physical world around us. The advancement of these systems needs to incorporate an unequivocal spotlight on making these systems efficient. Blockchains and their inherent combination of consensus algorithms, distributed data storage, and secure protocols can be utilized to build robustness and reliability in these systems. Blockchain is the underlying technology behind bitcoins and it provides a decentralized framework to validate transactions and ensure that they cannot be modified. By distributing the role of information validation across the network peers, blockchain eliminates the risks associated with a centralized architecture. It is the most secure validation mechanism that is efficient and enables the provision of financial services, thereby giving users more freedom and power. This upcoming technology provides internet users with the capability to create value and authenticate digital information. It has the capability to revolutionize a diverse set of business applications, ranging from sharing economy to data management and prediction markets. In this paper, we present a holistic survey of various applications of CPS where blockchain has been utilized. Smart grids, health-care systems, and industrial production processes are some of the many applications that can benefit from the blockchain technology and will be discussed in the paper.