• Rakesh Kumar

The rapid expansion of smart applications is projected to propel the Internet of Things (IoT) ecosystem to encompass over 100 billion devices by 2030. IoT ecosystems integrate sensor-driven data generators with applications facilitating monetary transactions, thereby establishing robust frameworks for IoT payments and marketplaces. However, the successful realization of these systems faces significant challenges, including interoperability issues, resource constraints, and security vulnerabilities. Blockchain, a Distributed Ledger Technology (DLT), emerges as a transformative solution, offering decentralization, traceability, immutability, and non-repudiation. This paper provide insights about IoT payments , highlights associated technical challenges, and examines blockchain-based solutions. The insights aim to guide the development of innovative blockchain-integrated IoT ecosystems.

Internet of Things, IoT payments, IoT marketplaces, Blockchain, Distributed Ledger Technology, Smart Contracts, Decentralized Applications.

"IoT-Based Payments and Challenges ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 12, page no.h570-h574, December-2024, Available :http://www.jetir.org/papers/JETIR2412767.pdf

"IoT-Based Payments and Challenges ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 12, page no. pph570-h574, December-2024, Available at : http://www.jetir.org/papers/JETIR2412767.pdf