Implementation of the BFTIRS Algorithm for Integrating Distributed Ledgers with Supply Chain Network

Abstract

Over the past ten years, blockchain technology has significantly captured interest in various application fields. Originally devised for the Bitcoin peer-to-peer cryptocurrency network, extensive research now explores integrating blockchain with various other service domains. The technology is celebrated for its decentralized structure, robust security, immutability, and transparency. In blockchain systems, consensus algorithms play a crucial role in establishing unanimous agreement among participants within a distributed computing environment, facilitating the addition of new blocks to the blockchain network. The effectiveness and security of the network largely hinge on the performance of these consensus algorithms. However, existing consensus algorithms face challenges with throughput, latency, and communication complexity. To address these issues, an enhanced consensus algorithm known as Intuitive Random Selection based Byzantine Fault Tolerant (BFTIRS) is introduced. This algorithm optimizes the consensus process by selecting a subset of nodes, thereby reducing network complexity and enhancing efficiency without sacrificing security. To tackle scalability issues in blockchains, a hierarchical BFTIRS algorithm that incorporates sharding is developed. This approach segments network participants into local and global consensus groups, each conducting the consensus process independently. Performance evaluations of this algorithm show improvements in both efficiency and security over existing solutions.