The Internet of Things (IoT) has revolutionized the human world by transforming ordinary everyday objects into smart devices. These autonomous devices have reshaped our lives. The emerging technology is expanding day-by-day with the increasing need for smart devices as so the issues are also increasing w.r.t security, data reliability, maintenance and authentication. On the other hand, another innovative technology- Blockchain- has transformed our financial world by introducing sophisticated security. An integrated Blockchain-IoT system can resolve the problems they face individually and serve the technological world better. The paper provides a comprehensive study of both technologies by highlighting their features and challenges. The article further critically analyses existing approaches that discussed various issue about IoT and Blockchain.