ModChain: a hybridized secure and scaling blockchain framework for IoT environment

Internet-of-Things (IoT) has become much more ubiquitous in the present era as numerous novel applications employing it with technical units are being adapted to interact with it. The minimal computing power of devices, the security concerns about their data, and the flexibility for on-demand scaling are the major constraints in preventing the effective application and evolution of IoT networks. To address these problems, a hybridized conceptual framework called ModChain is proposed that mutates blockchain structure to scale with IoT networking. The throughput of a typical blockchain network cannot handle the volume of data generated by scaling IoT networks. ModChain includes a customized deterministic consensus named, MoD-PoW that transforms the way the blockchain operates so that multiple data fragments can be mined. Throughput is increased by implementing a node committee which is responsible for appending blocks to the framework. A custom-built consensus algorithm is used to ensure the fairness property of mining, and the incentivization module has been defined to ensure that the leader of the committee does not compromise on a fake transaction. The advent of a Private Auction process has boosted network scalability. ModChain has an average transaction throughput of 883 Transactions Per Second (TPS). © 2023, The Author(s), under exclusive licence to Bharati Vidyapeeth's Institute of Computer Applications and Management.