An Energy-Efficient Transaction Model for the Blockchain-enabled Internet of Vehicles (IoV)

Abstract

The blockchain is a safe, reliable and innovative mechanism for managing numerous vehicles seeking connectivity. However, following the principles of the blockchain, the number of transactions required to update ledgers pose serious issues for vehicles as these may consume the maximum available energy. To resolve this, an efficient model is presented in this letter which is capable of handling the energy demands of the blockchain-enabled Internet of Vehicles (IoV) by optimally controlling the number of transactions through distributed clustering. Numerical results suggest that the proposed approach is 40.16% better in terms of energy conservation and 82.06% better in terms of the number of transactions required to share the entire blockchain-data compared with the traditional blockchain.