Research Area:  Blockchain Technology

Abstract:

Proof-of-Work (PoW) in Blockchains (BC), which is a widely used consensus algorithm, suffers from high power consumption of miners and low transaction rates. This work demonstrates a Proof-of-Stake (PoS)-based BC called Bazo, which is specially designed and adapted for Internet of Things (IoT) data streams. Bazo displays enhanced performance in terms of energy consumption and transactions processing in comparison to PoW-based BC. To further improve performance of Bazo, sharding and transaction aggregation methods are employed. Moreover, IoT-BC adaptation helpers of a modular and layered architecture are provided to allow wireless devices to submit data into the BC. The designed architecture can support multiple hardware and software platforms as well as network technologies.

Keywords:  

Author(s) Name:  Sina Rafati Niya; Eryk Schiller; Ile Cepilov; Fabio Maddaloni; Kürsat Aydinli; Timo Surbeck; Thomas Bocek; Burkhard Stiller

Publisher name:  IEEE

DOI:  10.1109/BLOC.2019.8751260

Volume Information:  

Paper Link:   https://ieeexplore.ieee.org/abstract/document/8751260