High-Performance Blockchain Infrastructure for IoT Applications

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Blockchains, or Distributed Ledger Technologies (DLTs), can become a groundbreaking disruptive technology, capable of profoundly impacting a wide range of markets, from cryptocurrency to novel use cases in both the public sector and the private sector. Blockchains promise the ability to maintain critical information in a trustworthy repository without any centralized management. The reliability of the system is based on innate immutability properties which prevent alteration of stored data, coupled with programmatic verification of incoming transactions using executable code called smart contracts. Blockchains can alleviate friction across users, by providing transparency, efficiency, auditability, and security. Important challenges remain to be solved before blockchain technology can be widely adopted. In particular, blockchain systems suffer from performance and scalability problems. In this project, the main goal is to demonstrate the applicability and improve the utility of DLTs for applications beyond cryptocurrency, specifically in the domain of Internet of Things. We will accomplish this goal through four different vectors: (1) the study of IoT blockchain applications and an analysis of their performance requirements, (2) the design and implementation of technical innovations to various blockchain systems (e.g., Ethereum and Hyperledger Fabric) to raise their performance and scalability, (3) the development of general performance models for blockchain networks, which assist in the decision-making process of selecting the right blockchain solution for each application, and how to optimally tune it, and (4) the design of new infrastructure management protocols for large-scale data centers to efficiently support future IoT applications.As blockchain is still in its infancy, there is a tremendous chance for Canada to become a leader in its development. The research outcomes of this project will lead to greater adoption of blockchain technologies across a variety of industrial and social sectors. Furthermore, the project will train at least 8 graduate students to meet the growing demands for highly skilled blockchain experts.