A low-cost blockchain node deployment algorithm for the internet of things

Blockchain technology has emerged as a promising solution for addressing trust and security concerns in the Internet of Things (IoT), which is a network of interconnected devices. By deploying blockchain technology at the node level of the IoT, a mutually trusted transaction network can be established between devices, promoting a shift from platform-based to device-based information exchange. However, the implementation of blockchain in wireless IoT scenarios can pose many challenges due to its high resource consumption, including computing power, memory space, and energy consumption. To address these issues, we propose a low-cost algorithm that minimizes the number of blockchain nodes required to meet IoT throughput requirements while ensuring the proper functioning of blockchain, such as guaranteeing consensus success rates in the presence of Byzantine nodes. Our numerical simulation results demonstrate the effectiveness of our proposed scheme in reducing operating costs and promoting the deployment of blockchain in the IoT.