Towards Realistic Energy Profiling of Blockchains for Securing Internet of Things

Internet of Things (IoTs) offers a plethora of opportunities for remote monitoring and communication of everyday objects known as things with applications in numerous domains. The advent of blockchains can be a significant enabler for IoTs towards conducting and verifying transactions in a secure manner. However, applying blockchains to IoTs is challenging due to the resource constrained nature of the embedded devices coupled with significant delay incurred in processing and verifying transactions in the blockchain. Thus there exists a need for profiling the energy consumption of blockchains for securing IoTs and analyzing energy-performance trade-offs. Towards this goal, we profile the impact of workloads based on Smart Contracts and further quantify the power consumed by different operations performed by the devices on the Ethereum platform. In contrast to existing approaches that are focused on performance, we characterize performance and energy consumption for real workloads and analyse energy-performance trade-offs. Our proposed methodology is generic in that it can be applied to other platforms. The insights obtained from the study can be used to develop secure protocols for IoTs using blockchains.