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Adaptation of Proof-of-Stake-based Blockchains for IoT Data Streams


Rafati Niya, Sina; Schiller, Eryk Jerzy; Cepilov, Ile; Maddaloni, Fabio; Aydinli, Kursat; Surbeck, Timo; Bocek, Thomas; Stiller, Burkhard (2019). Adaptation of Proof-of-Stake-based Blockchains for IoT Data Streams. In: 2019 IEEE International Conference on Blockchain and Cryptocurrency (ICBC), Seoul, Korea (South), 14 June 2019 - 17 June 2019, 15-16.

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.

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.

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Additional indexing

Item Type:Conference or Workshop Item (Paper), refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Informatics
Dewey Decimal Classification:000 Computer science, knowledge & systems
Scopus Subject Areas:Social Sciences & Humanities > Business, Management and Accounting (miscellaneous)
Social Sciences & Humanities > Management of Technology and Innovation
Physical Sciences > Computer Networks and Communications
Social Sciences & Humanities > Information Systems and Management
Physical Sciences > Safety, Risk, Reliability and Quality
Language:English
Event End Date:17 June 2019
Deposited On:28 Aug 2019 13:53
Last Modified:13 May 2020 23:11
Publisher:IEEE
ISBN:978-1-7281-1328-9
OA Status:Closed
Publisher DOI:https://doi.org/10.1109/BLOC.2019.8751260
Other Identification Number:merlin-id:18075

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