A fair consensus model in blockchain based on computational reputation

Abstract

Fair selection of community members’ transactions in blockchain-based technologies, especially in finance, is essential and vital. Therefore, in this paper, a novel consensus model for fair selection of community members’ transactions through reputation models is presented as fair reputation-based consensus model (FRCM), so that all transactions of community members have the same weight and transactions are selected regardless of the transaction fee or the assets or computing power but based on the reputation of the trustees who are responsible for placing the transactions in the block. For this purpose, a FRCM prototype has been designed and implemented based on the proposed algorithms. Experimental and theoretical evaluations and simulation results show that the FRCM can select the transactions of community members fairly while reducing the average response time effectively. In addition, comparative analysis with other consensus mechanisms proved that FRCM model has lower consensus latency than other mechanisms, while improving throughput and scalability.