HiCoOB: Hierarchical Concurrent Optimistic Blockchain Consensus Protocol for Peer-to-Peer Energy Trading Systems

Abstract

Hierarchical consensus protocols are one of the most promising approaches considered to improve the performance and scalability of blockchain-based peer-to-peer energy trading (P2P ET) systems. They allow a network to be divided into multiple clusters where each cluster can independently run its own local consensus on local transactions (i.e., transactions that belong to a single cluster) and also cooperate with other clusters for global transactions (i.e., transactions that affect more than one cluster). However, current solutions do not allow the parallel processing of local and global transactions, leading to low throughput and high latency. Moreover, they impose an additional burden on the leader node by assigning to it the responsibility for both local and global consensus. This paper proposes a hierarchical concurrent optimistic blockchain consensus protocol, called HiCoOB, which includes an optimistic local consensus and a deterministic global consensus that enables the concurrent execution of local and global transactions. Additionally, the local and the global consensus are coordinated by two distinct leaders, thereby reducing the overhead on the local leader node. HiCoOB also provides a synchronization method between local and global consensus to avoid the double spending of energy or money that arises from interdependent client transactions. Experimental results indicate that the proposed protocol achieves 87% higher throughput than the existing systems. Furthermore, it reduces the waiting time of the local transactions by a factor of 5x. Finally, HiCoOB has 10 times less overhead on the local leader node in terms of message exchange when compared to state-of-the-art systems.