Abstract: A method for resource management in a blockchain based IoT network comprising a plurality of IoT nodes connected with each other using block chain is disclosed. The method includes: receiving, by at least one first IoT node, at least one capability information of at least one second IoT node from the block chain based IoT network. The method may further include generating, by the at least one first IoT node, a smart contract to be executed between the at least one first IoT node and the at least one second IoT node based on the at least one capability information and at least one parameter associated with the at last one first IoT node and the at least one second IoT node and executing, by the at least one first IoT node, the smart contract with the at least one second IoT node.

Abstract: A user apparatus connectable to a block chain system is provided. The user apparatus includes a memory, a communication interface, and at least one processor configured to divide a block chain consisting of a plurality of blocks into an active area and an inactive area based on a predefined standard, store blocks included in the active area in a first portion of the memory, based on a transaction occurring in the block chain system, record information of the transaction in the blocks stored in the first portion of the memory, and control the communication interface to transmit transaction information satisfying a predefined condition among the transaction information stored in the first portion to a manager apparatus included in the block chain system.

Abstract: A method for resource management in a blockchain based IoT network comprising a plurality of IoT nodes connected with each other using block chain is disclosed. The method includes: receiving, by at least one first IoT node, at least one capability information of at least one second IoT node from the block chain based IoT network. The method may further include generating, by the at least one first IoT node, a smart contract to be executed between the at least one first IoT node and the at least one second IoT node based on the at least one capability information and at least one parameter associated with the at last one first IoT node and the at least one second IoT node and executing, by the at least one first IoT node, the smart contract with the at least one second IoT node.

Abstract: A user apparatus connectable to a block chain system is provided. The user apparatus includes a memory, a communication interface, and at least one processor configured to divide a block chain consisting of a plurality of blocks into an active area and an inactive area based on a predefined standard, store blocks included in the active area in a first portion of the memory, based on a transaction occurring in the block chain system, record information of the transaction in the blocks stored in the first portion of the memory, and control the communication interface to transmit transaction information satisfying a predefined condition among the transaction information stored in the first portion to a manager apparatus included in the block chain system.