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As the Internet of Things (IoT) continues to revolutionize value-added services, its conventional architecture exhibits persistent scalability and security vulnerabilities, jeopardizing the trustworthiness of IoT-based services. These architectural limitations hinder the IoT’s Sensor-as-a-Service (SEaaS) model, which enables the commercial transmission of sensed data through cloud platforms. This study proposes an innovative computational framework that integrates decentralized blockchain technology into the IoT architectural design, specifically enhancing SEaaS efficiency. This research contributes to an optimized IoT architecture with decentralized blockchain operations and simplified public key encryption. Furthermore, this study introduces an advanced SEaaS model featuring innovative trading operations for sensed data among diverse stakeholders. At its core, this model presents a unique blockchain-based data-sharing mechanism that manages multiple aspects, from enrollment to validation. Evaluations conducted in a standard Python environment indicate that the proposed SEaaS model outperforms existing blockchain-based data-sharing models, demonstrating approximately 40% less energy consumption, 18% increased throughput, 16% reduced latency, and a 25% reduction in algorithm processing time. Ultimately, integrating a lightweight authentication mechanism using simplified public key cryptography within the blockchain establishes the model’s potential for efficient and secure data-sharing in IoT.