Multi-Dimensional Contract Design for Blockchain Deployment in WSN under Information Asymmetry

Abstract

The integration of blockchain technology and Internet of Things (IoT) enables a wide range of business or industrial decentralized applications. However, incentivizing the self-interested IoT devices to participate in the blockchain net-work faces the challenges of the information asymmetry, energy constraints, and the wireless communication environment. In this paper, we focus on the blockchain system deployment in the classical wireless sensor networks (WSN). We design a multi-dimensional contract as the incentive mechanism which aims to maximize the WSN based blockchain operation time and data utilities. In particular, we derive the energy consumption model in maintaining the wireless blockchain network by analyzing the block mining process and the wireless block broadcast features. Moreover, we give the feasible conditions of the contract. Numerical results demonstrate that our proposed contract effectively incentivizes sensors to participate in the consensus process, and maintain the WSN based blockchain effectively from the economics perspective.