iLEDGER: A Lightweight Blockchain Framework with New Consensus Method for IoT Applications

Considering the growth of the IoT network, there is a demand for a decentralized solution. Incorporating the blockchain technology will eliminate the challenges faced in centralized solutions, such as i) high infrastructure, ii) maintenance cost, iii) lack of transparency, iv) privacy, and v) data tampering. Blockchain-based IoT network allows businesses to access and share the IoT data within their organization without a central authority. Data in the blockchain are stored as blocks, which should be validated and added to the chain, for this consensus mechanism plays a significant role. However, existing methods are not designed for IoT applications and lack features like i) decentralization, ii) scalability, iii) throughput, iv) faster convergence, and v) network overhead. Moreover, current blockchain frameworks failed to support resource-constrained IoT applications. In this paper, we proposed a new consensus method (WoG) and a lightweight blockchain framework (iLEDGER), mainly for resource-constrained IoT applications in a permissioned environment. The proposed work is tested in an application that tracks the assets using IoT devices (Raspberry Pi 4 and RFID). Furthermore, the proposed consensus method is analyzed against benign failures, and performance parameters such as CPU usage, memory usage, throughput, transaction execution time, and block generation time are compared with state-of-the-art methods.