Evaluating the Reliability of Blockchain Based Internet of Things Applications

Abstract

In this paper we describe an evaluation to test the reliability of a blockchain based Internet of Things application using a continuous-time Markov chain model. The factors affecting the reliability in our system include the number of devices, the reliability of individual devices, and the underlying consensus algorithm etc. The effect of some factors on overall system reliability is tested, and we find that the total number of devices has the most significant factor to affect overall system reliability. So that we can improve system reliability according to the affecting factors.