Multi-service model for blockchain networks

Abstract

Multi-service networks aim to efficiently supply distinct goods within the same infrastructure by relying on a (typically centralised) authority to manage and coordinate their differential delivery at specific prices. In turn, final customers constantly seek to lower costs whilst maximising quality and reliability. This paper proposes a decentralised business model for multiservice networks using Ethereum blockchain features – gas, transactions, and smart contracts – to execute multiple services at different prices. By employing the Ethereum cryptocurrency token, Ether, to quantify the quality of service and reliability of distinct private Ethereum networks, our model concurrently processes streams of services at different gas prices while differentially delivering reliability and service quality. This multi-service business model has been extensively tested on five concurrent Ethereum networks with various combinations of gas prices, miners, and regular nodes using a Proof of Authority consensus algorithm and throughput as the evaluation metric. It has exhibited linear scalability, providing increased throughput in high-quality Ethereum networks, i.e., composed of more validator nodes. The results also indicate that different mining prices do not impact the network performance, but networks with more miners had limited scalability and an increased level of trustworthiness and reliability.