Application of MCDM Methods to Optimal Consensus Protocol Selection for Blockchain-Based IoT Networks

Abstract

One of the modern areas of blockchain technology application is the Internet of Things (IoT). An important component of blockchain technology is the consensus layer. It includes consensus protocols that are used to establish and maintain consensus, as well as to ensure network security, accuracy, and protection of the registry from unauthorized access. Currently, there are a large number of different consensus protocols, including those for blockchain-based IoT networks. Therefore, choosing the most suitable consensus protocol for a specific distributed ledger system, in particular, for an IoT blockchain solution, is an important task. The problem of optimal blockchain consensus mechanism selection in IoT networks can be considered a multi-criteria decision-making problem. This paper presents the step-by-step development of a conceptual model of a system of optimal consensus protocol selection for blockchain-based IoT networks. Following this step-by-step approach, the final goal is to transform the conceptual framework into a practical, adaptive, and efficient decision-making system for blockchain-based IoT networks. The obtained results can be useful for developers and researchers working in the field of blockchain technology and the Internet of Things and contribute to improving the efficiency and security of IoT networks.