BLPCA-ledger: A lightweight plenum consensus protocols for consortium blockchain based on the hyperledger indy

Abstract

An examination of different distributed real-time applications operating on the blockchain platform is conducted. These applications can be broadly classified into three types: permissionless public, permissioned private, and consortium chains. In order for a decentralized network to function independently, consensus mechanisms are needed to facilitate the delivery of transactions and keep track of them in a ledger. But the fundamental idea behind Blockchain technology is the use of several consensus protocols, like Proof of Stake, Proof of Elapsed Time, etc., which requires greater processing power. In order to arrange transactions, it increases the demand for buying more computing units. Furthermore, present consortia blockchain consensus mechanisms lack a policy to collect socio-economic financial levies, including monies for charitable donations, education, and social activities. To collect socio-economic taxes, this study suggests a lightweight Plenum consensus algorithm called "BLPCA" for consortium blockchains built on Hyperledger Indy. The Byzantine Fault Tolerance concept combined with optimization is used in the suggested BLPCA systems to manage large-scale decentralized traffic of socioeconomic hierarchy. Because there are no transaction costs, BLPCA encourages government analysts to review funds using fewer resources. By including a multithreading heterogeneous technique, the BLPCA can effectively handle multi-transaction needs and execute this protocol in an industrial setting that operates in real-time. It is observed from the simulations that even in the worst-case network scenario—such as a fork—the suggested consortium blockchain does not crash a single transaction. In order to guarantee node scalability, a high propagation speed is determined. Furthermore, the BLPCA shows an excellent average time while constructing socioeconomic transaction blocks.