Energy Efficient Consensus Approach of Blockchain for IoT Networks with Edge Computing

Area of Science:

• Computer Science
• Information Technology
• Distributed Systems

Background:

• Blockchain technology is increasingly adopted across diverse sectors like finance and agriculture.
• Consensus mechanisms are crucial for blockchain performance but existing methods (Proof of Work, Proof of Stake) face challenges with energy, memory, and processing demands.
• Integration with AI, IoT, and SDN highlights the need for efficient blockchain operations.

Purpose of the Study:

• To propose a novel, energy-efficient blockchain consensus mechanism.
• To address the limitations of existing consensus algorithms concerning resource utilization.
• To enhance the overall performance and efficiency of blockchain networks.

Main Methods:

• A modified Proof of Work (PoW) consensus approach is proposed.
• A single miner is selected for mining tasks.
• Mining tasks are offloaded to edge networking infrastructure.
• Miner selection is based on digitized machine specifications.

Main Results:

• The proposed model demonstrates significant improvements in energy efficiency (approx. 21%) and memory utilization (approx. 24%).
• Reduced processing time compared to traditional methods.
• Observed efficiency in block generation rates at intervals of 20, 40, and 60 minutes.

Conclusions:

• The novel consensus approach offers a more sustainable and efficient solution for blockchain networks.
• Offloading mining to edge networks and intelligent miner selection are key to improved performance.
• The findings suggest a viable alternative for resource-intensive blockchain applications.