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FlexiChain 3.0: Distributed Ledger Technology-Based Intelligent Transportation for Vehicular Digital Asset Exchange

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Intelligent Transportation Systems (ITS) leverage the Internet of Vehicles (IoV) for data processing. This study proposes FlexiChain 3.0, a Distributed Ledger Technology (DLT) solution, to enhance ITS-IoV infrastructure security and efficiency.

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Cyber-Physical Systems (CPS)Distributed Ledger Technology (DLT)blockchainintelligent transportation (ITS)vehicle-to-vehicle communication (V2V)

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Area of Science:

  • Cyber-Physical Systems
  • Internet of Vehicles (IoV)
  • Distributed Ledger Technology (DLT)

Background:

  • Intelligent Transportation Systems (ITS) generate vast data, requiring robust Cyber-Physical Systems.
  • The Internet of Vehicles (IoV) connects numerous devices, demanding high-speed, secure data handling.
  • Existing Distributed Ledger Technologies (DLTs) present trade-offs unsuitable for real-time IoV demands.

Purpose of the Study:

  • To analyze consensus algorithms for their suitability in IoV environments.
  • To design a novel DLT-based network optimized for ITS-IoV.
  • To evaluate the performance and security of the proposed solution.

Main Methods:

  • Comprehensive review and analysis of various DLT consensus algorithms.
  • Design and development of a new Layer 0 network, FlexiChain 3.0.
  • Performance evaluation through time analysis and security assessment.

Main Results:

  • FlexiChain 3.0 demonstrates a transaction capacity of 2.3 transactions per second.
  • The proposed network exhibits high security, independent of the number of participating nodes.
  • The design is tailored to meet the specific requirements of ITS-IoV.

Conclusions:

  • FlexiChain 3.0 offers a viable DLT backbone for ITS-IoV applications.
  • The proposed solution balances speed and security for real-time data processing in connected vehicles.
  • This work contributes a specialized DLT design for the unique challenges of the IoV ecosystem.