B-LPoET: A middleware lightweight Proof-of-Elapsed Time (PoET) for efficient distributed transaction execution and security on Blockchain using multithreading technology

Abstract

A private permissioned chain is typically considered a fully protected authorized blockchain. The concept of a permissioned chain has become better single-entity control operation over the network and allows entry only to selected nodes, which most probably supports different small-medium enterprises and government officials. It is one of the prominent features of blockchain technology that maintains transaction integrity and security throughout the deliverance. This paper initially highlights the benefits of a permissioned private chain. Present the current issues of the Proof-of-Elapsed Time consensus mechanism for the distributed applicational environment. In order to make blockchain systems more adaptive for private chains, this paper proposes a middleware lightweight consensus based on PoET, named “B-LPoET”. Objecting to being improved as a lightweight PoET from the predefined PoET in terms of verifying transactions and creating more blocks, to decide the mining right, and participants allows to acknowledge their identities before joining. The design of B-LPoET reduces the cost of multi-node efficiency by establishing a lightweight topology for selecting and waiting time of winning node using multithreading, which affects positively by increasing systems scalability. The experimental results of the B-LPoET illustrate that it performs better as compared with the existing PoET and other state-of-the-art consensus.