An IoT Blockchain Architecture Using Oracles and Smart Contracts: the Use-Case of a Food Supply Chain

Abstract: The blockchain is a distributed technology which allows establishing trust among unreliable users who interact and perform transactions with each other. While blockchain technology has been mainly used for crypto-currency, it has emerged as an enabling technology for establishing trust in the realm of the Internet of Things (IoT). Nevertheless, a naive usage of the blockchain for IoT leads to high delays and extensive computational power. In this paper, we propose a blockchain architecture dedicated to being used in a supply chain which comprises different distributed IoT entities. We propose a lightweight consensus for this architecture, called LC4IoT. The consensus is evaluated through extensive simulations. The results show that the proposed consensus uses low computational power, storage capability and latency.