From PSKs to Blockchain: Ideas for Solving the IoT Security Dilemma

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Security and data privacy spending for the Internet of Things (IoT) will increase this year to $348 million, according to Gartner. Why and how are companies upping their IoT security investments? Here’s a look.

As industry interest in IoT grows, there’s no question that security has now become a major part of the IoT conversation. “IoT security has gone from being the No. 2 to the No. 1 barrier to IoT adoption,” says analyst Christian Renaud of 451 Research. One of the biggest issues is that traditional security strategies don’t necessarily work for IoT devices, due to hardware constraints. For example, as Juniper employee Aditya Chaturvedi explained in a recent blog post, authenticating devices via cryptographic certificates, a technique widely used for applications on the Web, is not feasible for all IoT devices — because some lack the storage capacity and power to handle certificates.

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