<p>In blockchain and distributed ledger technologies, the security and efficiency of consensus mechanisms are paramount. Consensus is a collaborative process among blockchain nodes that determines which block is added to the chain; it ensures uniformity in the ledger’s state. Although adequate, traditional Proof-of-Work (PoW) algorithms often involve resource-intensive and energy-consuming computations. This study aims to develop a consensus technique tailored for resource-constrained environments, thereby addressing challenges in the consensus mechanism for nodes within such networks. The objective is to facilitate the seamless inclusion of more nodes, providing increased opportunities for them to be chosen as candidates or leaders for block generation. This paper introduces an innovative approach by incorporating the concept of time offset. The primary motivation behind the developed Proof of Time-Offset (PoTO) protocol is to address the resource-intensive nature of traditional PoW while preserving decentralization. PoTO introduces a time-based offset that dictates when miners can compete to discover the next block. The efficiency of PoTO is validated through simulations and theoretical analysis. The PoTO approach is used to assess the level of randomization in comparison to traditional consensus algorithms such as PoW and PoS. A comparison is made regarding the frequency of elected leaders. Furthermore, the energy consumption for PoW, PoS and PoTO was measured across various consensus rounds, revealing that PoTO exhibits lower energy consumption than traditional consensus algorithms. Specifically, energy consumption ranges from 8.3 kJ to 163.2 kJ, while the acceptable latency spans from 0.1 to 10 min.</p>

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Proof of time offset: Blockchain consensus for resource constrained environments

  • Pankaj Gugnani,
  • W.Wilfred Godfrey,
  • Debanjan Sadhya

摘要

In blockchain and distributed ledger technologies, the security and efficiency of consensus mechanisms are paramount. Consensus is a collaborative process among blockchain nodes that determines which block is added to the chain; it ensures uniformity in the ledger’s state. Although adequate, traditional Proof-of-Work (PoW) algorithms often involve resource-intensive and energy-consuming computations. This study aims to develop a consensus technique tailored for resource-constrained environments, thereby addressing challenges in the consensus mechanism for nodes within such networks. The objective is to facilitate the seamless inclusion of more nodes, providing increased opportunities for them to be chosen as candidates or leaders for block generation. This paper introduces an innovative approach by incorporating the concept of time offset. The primary motivation behind the developed Proof of Time-Offset (PoTO) protocol is to address the resource-intensive nature of traditional PoW while preserving decentralization. PoTO introduces a time-based offset that dictates when miners can compete to discover the next block. The efficiency of PoTO is validated through simulations and theoretical analysis. The PoTO approach is used to assess the level of randomization in comparison to traditional consensus algorithms such as PoW and PoS. A comparison is made regarding the frequency of elected leaders. Furthermore, the energy consumption for PoW, PoS and PoTO was measured across various consensus rounds, revealing that PoTO exhibits lower energy consumption than traditional consensus algorithms. Specifically, energy consumption ranges from 8.3 kJ to 163.2 kJ, while the acceptable latency spans from 0.1 to 10 min.