Title: A Markov decision process-based secure consensus framework for leveraging blockchain technology in IoT applications

Authors: Nonita Sharma; Monika Mangla; Sachi Nandan Mohanty

Addresses: Department of Computer Science and Engineering, National Institute of Technology, Jalandhar, Punjab, India ' Department of Computer Engineering, Lokmanya Tilak College of Engineering, Navi Mumbai, India ' Department of Computer Engineering, College of Engineering Pune, Pune, India

Abstract: In this manuscript, we propose a secure consensus framework that implements Markov decision process (MDP) for blockchain technology in IoT applications. The proposed framework presents projection for the sojourn time and stationary efficiency measures for any transaction or block. Implementing MDP provides a group of states and a collection of actions to choose from. MDP also offers instantaneous reward purpose and a probabilistic transition matrix. The proposed framework that suggests implementation of MDP in blockchain technology further escalates the security of the network. The paper demonstrates the architecture of the proposed framework.

Keywords: blockchain; Bitcoin; Byzantine faults; consensus; smart contract; distributed ledger; Markov decision process; MDP.

DOI: 10.1504/IJEB.2022.124329

International Journal of Electronic Business, 2022 Vol.17 No.3, pp.270 - 282

Received: 01 Aug 2020
Accepted: 06 Feb 2021
Published online: 22 Jul 2022 *

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