MinerRepu: a reputation model for miners in blockchain networks

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Blockchain technology holds several promises for many application areas; however, it is not without its limitations. One of the most significant weaknesses of blockchain technology is its substantial energy consumption. Many researchers have proposed solutions to reduce the energy demands of this technology - such as the use of alternative consensus algorithms and the use of renewable energy. However, the use of alternative trust and reputation models to improve sustainability (by, for instance, selecting miners based on these trust or reputation values) has not been widely investigated. In this paper, we propose a reputation model that quantifies and compares the trustworthiness of miners based on their behaviours within a blockchain network. The model is evaluated analytically and compared to other trust and reputation models for miners. The evaluation shows that our model fulfils several desirable properties that should always be satisfied by reputation models, whereas other models do not always meet these requirements. In addition, we perform experimental evaluations to represent the performance of our model and its accuracy in detecting malicious miners. We also report the effectiveness of using the model in reducing the energy consumption of blockchain-based systems.
Original languageEnglish
Title of host publication2021 IEEE International Conference on Web Services (ICWS)
EditorsCarl Chang, Ernesto Daminai, Jing Fan, Parisa Ghodous, Michael Maximilien, Zhongjie Wang, Robert Ward, Jia Zhang
PublisherInstitute of Electrical and Electronics Engineers (IEEE)
Pages724-733
Number of pages10
ISBN (Electronic)9781665416818
ISBN (Print)9781665416825 (PoD)
DOIs
Publication statusPublished - 15 Nov 2021
Event2021 IEEE International Conference on Web Services - Virtual
Duration: 5 Sep 202111 Sep 2021

Publication series

NameIEEE International Conference on Web Services (ICWS)

Conference

Conference2021 IEEE International Conference on Web Services
Abbreviated titleICWS 2021
Period5/09/2111/09/21

Keywords

  • Blockchain
  • Trust Model
  • Reputation Model
  • Miner
  • Proof of Work
  • Energy Consumption

Fingerprint

Dive into the research topics of 'MinerRepu: a reputation model for miners in blockchain networks'. Together they form a unique fingerprint.

Cite this