Queuing Without Patience: A Novel Transaction Selection Mechanism in Blockchain for IoT Enhancement

Hong-wei, Shi; Wang, Shengling; Xiao, Yinhao

doi:10.1109/jiot.2020.2996614

Cited by 13 publications

(4 citation statements)

References 14 publications

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“…Basically, in a pool of transaction queues, the higher a transaction fee limit is set, the faster the transaction validation would be. The undesired resultant effect is that some transactions are stuck in the Mempool (a queue in the network where all transactions are kept until validation is confirmed) due to a lower transaction fee set [10]. Sometimes, they are rejected by the system after a long stay in the memory pool, and the funds are refunded to the owner, yet the initiated transactions are not invalid [11].…”

Section: A the Blockchain Transaction Latency And Uncertaintymentioning

confidence: 99%

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Optimized User-Friendly Transaction Time Management in the Blockchain Distributed Energy Market

Okoye

Kim

2022

IEEE Access

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The blockchain nexus with energy transactions in the distributed energy-trading arena successfully achieved a decentralized transaction and increased security. With the elimination of a third-party middle man, an electronic app is introduced to achieve decentralization and aid transactive communications. Observing the internet-of-things (IoT) intense protocols in the transactive communications amongst blockchain participants, however, leads to transaction time delay with associated uncertainty. This paper integrates the practical byzantine fault tolerance (pBFT) algorithm with the private Hyperledger Sawtooth blockchain network (P) to achieve a P-pBFT algorithm. The P-pBFT achieved a combined two-step transaction latency optimization (minimization) amongst the blockchain participants in the distributed energy generation (DEG) ecosystem. Through their combined feature extraction, further minimization is achieved by simulating the resulting transaction model derived from the integration. Subsequently, an optimization method is proposed to achieve the shortest transaction time given transaction constraints based on participants' comfort. Thus, the ratio of node population to the transaction size and the choice of constraints can be regulated at the participants' convenience to achieve minimum transaction time. Hence, the benefit of deciding the transaction time is achieved thereby eliminating the undesired characteristic uncertainty.INDEX TERMS Blockchain transaction, blockchain transaction time optimization, blockchain transaction time simulation, distributed energy system, practical byzantine fault tolerance.

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Section: A the Blockchain Transaction Latency And Uncertaintymentioning

confidence: 99%

“…Therefore, the tolerable number of malicious nodes must not exceed 1. Similarly, (10) gives the maximum possible number of malicious nodes when the value of m+n is otherwise a positive multiple of 3 where m+n  6. For example, when m+n = 9, (9-1)/3 = 2.67.…”

Section: The P-pbft Algorithmmentioning

confidence: 99%

Optimized User-Friendly Transaction Time Management in the Blockchain Distributed Energy Market

Okoye

Kim

2022

IEEE Access

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“…Blockchain In general, the blockchain [17][18][19][20][21][22][23][24][25][26][27] can be treated as a distributed data store that records all the transactions that have occurred in the peer-to-peer network. All participants in the network hold the same copy of the data record, and there is no central authority or single node can control the entire network.…”

Section: Blockchain and Kv Storementioning

confidence: 99%

A blockchain-assisted framework for secure and reliable data sharing in distributed systems

Guo

Wang

Huang

2021

J Wireless Com Network

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The explosive growth of big data is pushing forward the paradigm of cloud-based data store today. Among other, distributed storage systems are widely adopted due to their superior performance and continuous availability. However, due to the potentially wide attacking surfaces of the public cloud, outsourcing data store inevitably raises new concerns on user privacy exposure and unauthorized data access. Besides, directly introducing a centralized third-party authority for query authorization management does not work because it still can be compromised. In this paper, we propose a blockchain-assisted framework that can support trustworthy data sharing services. In particular, data owners allow to outsource their sensitive data to distributed systems in encrypted form. By leveraging smart contracts of blockchain, a data owner can distribute secret keys for authorized users without extra round interaction to generate the permitted search tokens. Meanwhile, such blockchain-assisted framework naturally solves the trust issues of query authorization. Besides, we devise a secure local index framework to support encrypted keyword search with forward privacy and mitigate blockchain overhead. To validate our design, we implement the prototype and deploy it at Amazon Cloud. Extensive experiments demonstrate the security, efficiency, and effectiveness of the blockchain-assisted design.

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“…B ITCOIN is immune to distrustful entities and can expedite confidence by a mining-based consensus mechanism without a third party, heralding a new era in digital cryptocurrency since introduced in 2008 [1][2][3]. As incentives for mining, each consensus participant, called miner, may receive two types of rewards, comprising subsidy, the systematically assigned currency, and transaction fees, attached to the transactions from users.…”

Section: Introductionmentioning

confidence: 99%

Cap the Gap: Solving the Egoistic Dilemma under the Transaction Fee-Incentive Bitcoin

Shi,

Wang,

et al. 2020

Preprint

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Queuing Without Patience: A Novel Transaction Selection Mechanism in Blockchain for IoT Enhancement

Cited by 13 publications

References 14 publications

Optimized User-Friendly Transaction Time Management in the Blockchain Distributed Energy Market

Optimized User-Friendly Transaction Time Management in the Blockchain Distributed Energy Market

A blockchain-assisted framework for secure and reliable data sharing in distributed systems

Cap the Gap: Solving the Egoistic Dilemma under the Transaction Fee-Incentive Bitcoin

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