In the arrangement of sensor devices, the performance has become a pressing issue with the increase of the enormous network overhead. As IoT has been evolving so rapidly to ease our daily life, communication latency and security can affect its efficient usage, if different aspects of socio-economic issues where IoT is necessarily involved. In line with that, blockchain has been able to show its enormous potentials to equip IoT devices to enhance security and performance. It is so popular because of its self-administering ability through distributed and consensus-driven behavior along with transparency, immutability, and cryptographic security strength. There have been several efforts made to upgrade the network performance besides ensuring safety and privacy concerns. However, the existing approaches such that aligned with publicly available blockchains have come up with certain drawbacks and performance delays. Therefore, it has been raised as a popularly asked question that the existing cryptocurrency driven blockchain technology may not be directly applicable in the areas such as IoT security and privacy. In this work, a two-way peg blockchain system to overcome the performance and overhead issues has been proposed. The proposed approach has been justified after successfully integrating considered IoT networks. It proves that the proposed rootstock (RSK) sidechain based blockchain has a promising ability to work with the IoT networks. The result shows a significant improvement in terms of performance in comparison with its peers, such as Ethereum and Monax, upon different sensor nodes employed.