LVCA: An efficient voting-based consensus algorithm in private Blockchain for enhancing data security

Consensus protocols are important in generating trust in blockchain-enabled systems. This paper introduces a Random Lottery Voting-based Consensus Algorithm (LVCA) designed for a private consortium blockchain. The LVCA algorithm enhances security and efficiency by selecting miners, based on a trust score and a random lottery mechanism. The proposed method uses an Enhanced Multi Hash (EMH) technique for block authentication and stores the blocks in an IPFS-based blockchain. In this paper, a set of nodes is established, and verifiers are selected based on their trust score. A random lottery is used to select the miner, and new blocks are generated, verified, and validated. The proposed LVCA strategy promotes better user gains, security, and time efficiency with acceptable energy consumption. The block is stored by the Interplanetary File system (IPFS)-based blockchain technology. The block information is authenticated by the Enhanced Multi Hash (EMH) technique. Performance evaluations demonstrate that the proposed model significantly improves throughput, with a capacity of 13,990 TPS at 16 nodes and an average consensus delay of 100.0096 ms at block generation time of 20 seconds. Compared to the existing algorithms, LVCA offers superior user benefits, security, time efficiency, and acceptable energy consumption.