Publication:
SIM-P - A Simplified Consensus Protocol Simulator: Applications to Proof of Reputation-X and Proof of Contribution

Simple item page
dc.citedby1
dc.contributor.authorOyinloye D.P.en_US
dc.contributor.authorTeh J.S.en_US
dc.contributor.authorJamil N.en_US
dc.contributor.authorTeh J.en_US
dc.contributor.authorid57217828425en_US
dc.contributor.authorid56579944200en_US
dc.contributor.authorid36682671900en_US
dc.contributor.authorid56992718600en_US
dc.date.accessioned2024-10-14T03:19:05Z
dc.date.available2024-10-14T03:19:05Z
dc.date.issued2023
dc.description.abstractBlockchain is a distributed ledger in which participating users with varying levels of trust agree on the ledger's content using a consensus mechanism called consensus protocols. There has been a rising interest in the design of consensus protocols since they play a central role in blockchain architecture. However, many recently proposed consensus protocols lack experimental verification which hampers the possible deployment of these protocols in real-world blockchain networks. In this article, we propose a simple tool called simplified consensus protocol simulator (SIM-P) that can accurately simulate the behavior of these consensus protocols with ease. It is an agent-based stochastic simulator that relies on the sequential Monte Carlo method to model how block publishers are selected. The likelihood of each node (represented as agents) being selected as a block publisher is represented by independent trials in a binomial experiment. We provide a base SIM-P model that simulates Proof of Work (PoW) for benchmarking purposes. The PoW model also serves as the basic structure of the simulator that can be adapted to other protocols. We showcase the flexibility of SIM-P by proposing two additional simulation models for Proof of Reputation-X and Proof of Contribution, both of which lack experimental verification in their original design specifications. We show how the simulator can be used to produce vital metrics, such as throughput, resistance against the 51% attack, and energy consumption. We verify the accuracy of SIM-P by comparing PoW's simulated results with theoretical estimates and historical Bitcoin data. � 2014 IEEE.en_US
dc.description.natureFinalen_US
dc.identifier.doi10.1109/JIOT.2022.3221916
dc.identifier.epage5094
dc.identifier.issue6
dc.identifier.scopus2-s2.0-85142784035
dc.identifier.spage5083
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85142784035&doi=10.1109%2fJIOT.2022.3221916&partnerID=40&md5=092d2139e3a308d2751bc49bbf0a8c61
dc.identifier.urihttps://irepository.uniten.edu.my/handle/123456789/34329
dc.identifier.volume10
dc.pagecount11
dc.publisherInstitute of Electrical and Electronics Engineers Inc.en_US
dc.sourceScopus
dc.sourcetitleIEEE Internet of Things Journal
dc.subjectBlockchain
dc.subjectconsensus protocol
dc.subjectproof of contribution
dc.subjectproof of reputation
dc.subjectProof of Work (PoW)
dc.subjectsimulator
dc.subjectBitcoin
dc.subjectDistributed computer systems
dc.subjectDistributed ledger
dc.subjectEnergy utilization
dc.subjectInternet of things
dc.subjectInternet protocols
dc.subjectMonte Carlo methods
dc.subjectNetwork architecture
dc.subjectRandom processes
dc.subjectSimulators
dc.subjectStochastic models
dc.subjectStochastic systems
dc.subjectAdaptation models
dc.subjectBlock-chain
dc.subjectConsensus protocols
dc.subjectExperimental verification
dc.subjectPeer-to-peer computing
dc.subjectProof of contribution
dc.subjectProof of reputation
dc.subjectProof of work
dc.subjectProtocol simulator
dc.subjectBlockchain
dc.titleSIM-P - A Simplified Consensus Protocol Simulator: Applications to Proof of Reputation-X and Proof of Contributionen_US
dc.typeArticleen_US
dspace.entity.typePublication
Files
Collections
SCOPUS