Many industrials consider blockchain as a technology breakthrough for cybersecurity, with use cases ranging from cryptocurrency system to smart contracts, and so forth. While IoT systems employ a lightweight communication protocol between physical objects, blockchain may ensure safe information gathering. Unfortunately, the mixture of both technologies has yet to be formally investigated regarding the consensus algorithm. In this paper, statistical model checking is applied to provide quantitative answers on whether the modeled system satisfies safety and liveness properties expressed in LTL temporal logic.
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