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Sensors 2021, 21, 3822 26 of 32 queuing of Transfers can be handled by the Power Company or the Storage Provider as the case may be and queuing of Redeems can be handled by the Transaction Platform. Thakkar et al. [39] proposed the use of a dependency graph for transactions in order to increase parallel execution in blockchain transactions. Li et al. [40] presented priority based queuing model to reduce the waiting time of blockchain transactions. Investigation of application based contention management through queuing or other methods can be considered for a future work. 5. Related Works Blockchain continues to gain considerable research interest, as the number of pub- lications in the field of blockchain and its applications show a clear upward trend [41]. Features of blockchain such as decentralization, immutability, provenance tracing and self enforcing smart contracts make blockchain suitable to a variety of applications involving information and value exchange, transparency, access control and encoding of business logic for automatic execution. Blockchain was developed as an enabling technology for Bitcoin, a cryptocurrency and thus has several applications in the banking and financial sectors [42]. Blockchain implementations can encompass the business network and provide provenance tracing and can thus facilitate invoice reconciliation and dispute resolution [43]. The immutability of blockchain can increase trust and transparency in transactions and smart contracts can be used to automate transaction flows and processes. Health care data management is another application area for blockchain. Hassel- gren et al. [44] identified access control, data provenance and data integrity as crucial in order to maintain the patient’s privacy during data exchanges between institutions in the healthcare ecosystem. Jiang et al. [45] proposed BlocHIE, a blockchain based platform for privacy and authenticability preserving exchange of medical data. Their solution used two loosely coupled blockchains for storing two different kinds of medical data and proposed two transaction packing algorithms for block creation in order to enhance throughput and fairness. Zhuang et al. [46] proposed the integration of blockchain in order to improve the workflow of health information exchange. Access control was implemented using smart contracts in their solution, which helped them address privacy and data integrity concerns and provide permitted clinicians access to records across multiple medical facilities. Addi- tionally, in light of the global Coronavirus pandemic, blockchain has also been proposed as a solution to address issues such as robust privacy management [47] and provenance based supply chain management [48] for vaccines and contact tracing of affected patients. Blockchain can also be integrated into industrial internet of things (IIoT) applications due to many of the same reasons that make it a good fit for healthcare and financial domains. Wang et al. [49] analysed the security risks associated with data storage in the IIoT and proposed the use of blockchain in order ensure secure data storage. Wu et al. [50] proposed the integration of blockchain into the supply chain management workflow and implemented a proof of concept on the Hyperledger Fabric for a food traceability system. Chen et al. [51] proposed and implemented a blockchain based access control framework for IoT systems. Jiang et al. [52] proposed the use of blockchain for IIoT data management and presented Fair-Pack, a transaction packing algorithm which succeeded in improving the average response time and fairness of the blockchain as compared to existing algorithms. Bordel et al. [53] presented a theoretical framework to investigate the applicability of blockchain for implementing a privacy and trust preserving solution for storage of data generated by Internet of Things implementations. Dai et al. [54] proposed the integration of blockchain technology to create a privacy preserving platform for Internet of Things. Blockchain mining tasks were delegated to edge nodes through a process of offloading and caching in order to maximize profit and reduce time based on game theory and auction theory. Their approach was shown to perform better than both, a centralized mode as well as a completely decentralized mode where all mining is done by edge nodes, on both profit maximization and time reduction.PDF Image | Blockchain Based Transaction System with NFT
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