Proof-of-resource: A resource-efficient consensus mechanism for IoT devices in blockchain networks

Abstract

In this paper, we propose an innovative, lightweight, and energy-efficient consensus mechanism, Proof-of-Resource (PoR), custom-designed for Internet of Things (IoT) devices in blockchain networks. As IoT's integration with blockchain faces hurdles such as scalability, resource efficiency, and security, conventional blockchain consensus mechanisms prove unsuitable due to IoT devices' resource limitations. The PoR is a breakthrough that capitalizes on IoT device resources' inherent capabilities to achieve consensus, thus enabling secure and efficient data exchange while minimizing resource consumption. Our paper presents the comprehensive design of PoR, discussing aspects like initialization, resource verification, consensus protocol, validator selection, block validation, and rewards. Through a simulation involving fifteen IoT devices, we demonstrate that PoR effectively addresses key challenges in IoT-blockchain integration, signifying a significant step forward in enabling blockchain technology for IoT systems.