The Quest for Fully Smart Autonomous Business Networks in IoT Platforms

Ali, Ahmed Abdullah; El-Dessouky, Iman A.; Abdallah, Marwa; Nabih, Azza K.

doi:10.1145/3178298.3178301

Cited by 5 publications

References 6 publications

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Dynamic Consensus: Increasing Blockchain Adaptability to Enterprise Applications

Butean

Pournaras

Tara

et al. 2020

Advances in Intelligent Systems and Computing

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Decentralization powered by blockchain is validated for its capability to build trust like no other computational system before. The evolution of blockchain models has opened new use-cases that are becoming operational in many industry fields such as: energy, healthcare, banking, cross-border trade, aerospace, supply chain, and others. The core component of a decentralized architecture is the consensus algorithm -the set of rules that ensures an automated and fair agreement between the actors in the same network. Classic consensus algorithms are tailored to solve specific problems, but in an open ecosystem, each business case is unique and needs a certain level of customization. This paper introduces a new meta-consensus model called Dynamic Consensus, an architecture extension that allows multiple, complementary, consensus algorithms to run on the same platform. While classic consensus mechanisms are more appropriate for public or private systems (narrow set of rules), a dynamic approach would fit better for federated business consortiums (more rules and higher need for adaptability). The model is illustrated and analyzed as an ongoing experimental feature that can be added to enterprise blockchains designed to operate in cross-domain environments.

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