Microchain: A Hybrid Consensus Mechanism for Lightweight Distributed Ledger for IoT

09/24/2019
by   Ronghua Xu, et al.
intfusiontech
Binghamton University
United States Air Force
0

A blockchain and smart contract enabled security mechanism for IoT applications has been reported recently for urban, financial, and network services. However, due to the power-intensive and a low-throughput consensus mechanism in existing blockchain, like Bitcoin and Ethereum, there are still challenges in integrating blockchain technology into resource-constrained IoT platforms. In this paper, Microchain, based on a hybrid Proof-of-Credit (PoC)-Voting-based Chain Finality (VCF) consensus protocol, is proposed to provide a secure, scalable and lightweight distributed ledger for IoT systems. By using a bias-resistant randomness protocol and a cryptographic sortition algorithm, a random subset of nodes are selected as a final committee to perform the consensus protocol. The hybrid consensus mechanism relies on PoC, a pure Proof of stake (PoS) protocol, to determine whether or not a participant is qualified to propose a block, given a fair initial distribution of the credit assignment. The voting-based chain finality protocol is responsible for finalizing a history of blocks by resolving conflicting checkpoint and selecting a unique chain. A proof-of-conception prototype is implemented and tested on a physical network environment. The experimental results verify that the Micorchain is able to offer a partially decentralized, scalable and lightweight distributed ledger protocol for IoT applications.

READ FULL TEXT

page 10

page 12

12/21/2019

Microchain: a Light Hierarchical Consensus Protocol for IoT System

While the large-scale Internet of Things (IoT) makes many new applicatio...
11/13/2022

Proof-of-randomness protocol for blockchain consensus: the white paper version 1.0

A proof-of-randomness (PoR) protocol could be a fair and low energy-cost...
05/26/2023

A Location-based and Hierarchical Framework for Fast Consensus in Blockchain Networks

Blockchain-based IoT systems can manage IoT devices and achieve a high l...
08/26/2022

Consensusless Blockchain: A Promising High-Performance Blockchain without Consensus

Consensus is unnecessary when the truth is available. In this paper, we ...
06/02/2022

The Loop of the Rings: A Distributed Cooperative System

We introduce a decentralized and distributed collaborative environment d...
01/10/2019

Redactable Blockchain in the Permissionless Setting

Bitcoin is an immutable permissionless blockchain system that has been e...
04/12/2021

Fed-DDM: A Federated Ledgers based Framework for Hierarchical Decentralized Data Marketplaces

Data marketplaces (DMs) promote the benefits of the Internet of Things (...

Please sign up or login with your details

Forgot password? Click here to reset