Comparative Evaluation of Various Blockchain Consensus Mechanisms for Industrial IoT Applications

Abstract

ABSTRACT The combination of blockchain technology with Industrial Internet of Things (IIoT) frameworks is promising in terms of building trust, data authenticity, and resilience. However, the efficiency and feasibility of integration largely rely upon the consensus mechanisms used. The present study is an overview of four renowned blockchain consensus schemes, namely Proof of Work (PoW), Proof of Stake (PoS), Practical Byzantine Fault Tolerance (PBFT), and Delegated Proof of Stake (DPoS), and the corresponding performance, security, efficiency, as well as compatibility under IIoT. The results reveal that low‐latency and lightweight consensus, such as PBFT and DPoS, will be helpful in IIoT applications, especially in applications with scarce resources. The paper offers practical guidance on the development of IIoT systems with integrated blockchain customized based on the requirements of the industry.