Distributed Ledger Technology for Smart Mobility: Variable Delay Models

Abstract

Recently, Directed Acyclic Graph (DAG) based Distributed Ledgers have been proposed for various applications in the smart mobility domain [1]. While many application studies have been described in the literature, an open problem in the DLT community concerns the lack of mathematical models describing their behaviour, and their validation. Building on a previous work in [1], we present, in this paper, a fluid based approximation for the IOTA Foundation's DAG-based DLT that incorporates varying transaction delays. This extension, namely the inclusion of varying delays, is important for feedback control applications (such as transactive control [2]). Extensive simulations are presented to illustrate the efficacy of our approach.