LAUSR

Blockchain is starting to be deployed in the Internet of Things (IoT) to enable autonomous device-to-device transactions. However, traditional block-based blockchain techniques, such as Bitcoin and Ethereum, are not suitable for IoT environments due to their low throughput, high computation overhead, and costly transaction fee. To satisfy the requirements of IoT environments, directed-acyclic-graph (DAG)-based approaches, aiming to provide cheap blockchain services with low latency and high throughput, are emerging. This article presents a set of comprehensive experimental studies on IOTA, a representative DAG-based blockchain. We aim to exhibit its unique characteristics mainly from three aspects: 1) performance; 2) security; and 3) system robustness. We have developed a series of benchmark tools and judiciously selected typical configurations to perform experimental examinations with a real private IOTA network. Our studies reveal several interesting findings: 1) the throughput of IOTA is higher than the traditional block-based blockchain but far less than the reported thousands of transactions per second (TPS) in its whitepaper, even with scaling-up configurations; 2) the database query heavily impacts the performance of IOTA, even more than its mining [i.e., Proof of Work (PoW)] process; and 3) the system robustness of IOTA is closely related to the frequency of the incoming transactions while the milestone sent by the centralized coordinator has little effect on the system robustness. We make our benchmark tools public and expect our works can inspire system architects, application designers, and practitioners with new optimization directions and potential application cases for further exploration.