Towards a Scalable and Trustworthy Blockchain: IoT Use Case

Abstract: Recently, blockchain has gained momentum as a novel technology that gives rise to a plethora of new decentralized applications (e.g., Internet of Things (IoT)). However, its integration with the IoT is still facing several problems (e.g., scalability, flexibility). Provisioning resources to enable a large number of connected IoT devices implies having a scalable and flexible blockchain. To address these issues, we propose a scalable and trustworthy blockchain (STB) architecture that is suitable for the IoT; which uses blockchain sharding and oracles to establish trust among unreliable IoT devices in a fully distributed and trustworthy manner. In particular, we design a Peer-To-Peer oracle network that ensures data reliability, scalability, flexibility, and trustworthiness. Furthermore, we introduce a new lightweight consensus algorithm that scales the blockchain dramatically while ensuring the interoperability among participants of the blockchain. The results show that our proposed STB architecture achieves flexibility, efficiency, and scalability making it a promising solution that is suitable for the IoT context.