Sharding-Powered Proof of Stake (SPPS): A Scalable and Secure Solution for Blockchain in Supply Chain Management

Blockchain technology has emerged as a transformative force in supply chain management, offering decentralized and secure transaction processing. However, it faces growing scalability and efficiency challenges due to the high volume of transactions involved in supply chains. This paper presents an innovative Sharding-Powered Proof of Stake (SPPS) approach, a blend of sharding and PoS consensus, to address these issues and advance blockchain’s potential in supply chain management. The SPPS approach segments the network into smaller, more manageable shards, each capable of processing its own set of transactions. This allows for simultaneous transaction processing and enhances inter-shard communication, significantly increasing the system’s throughput. The experiment results focus on the performance of SPPS in terms of scalability, transaction speed, security, and flexibility in a supply chain context. Notably, SPPS shows a 40% improvement in throughput compared to the 30 and 10% offered by traditional PoW and PoS mechanisms, respectively. Moreover, the proposed SPPS reduces confirmation time by 10%, a significant improvement over the 4 and 6% reductions observed with PoW and PoS. This is because the proposed system uses a more efficient consensus mechanism that reduces the amount of time required to validate transactions. This novel approach opens fresh avenues for decentralized applications and services in supply chain management, marking a significant stride in the evolution of blockchain technology and its real-world applications.