ROBUST AND EFFICIENT SUPPLY CHAIN MANAGEMENT USING IMPROVED PROOF OF USEFUL WORK (POUW) CONSENSUS ALGORITHM

Recently, blockchain technology has been integrated with other emerging technologies, including data science, artificial intelligence, and the Internet of Things (IoT). Blockchain will be the best alternative for maintaining data security and transparency, enhancing network management. This paper presents an improved consensus algorithm, an extension of the existing PoUW, to address scalability issues in blockchain technology. The proposed consensus algorithm includes two additional modules, authorisation and storage availability, to maintain the scalability of the blockchain network. The proposed method is applied explicitly to the supply chain management framework to analyse how it overcomes the limitations of the traditional system. Measuring the supply chain framework using blockchain is facilitated by several key parameters, including latency, transaction throughput, and computational energy. Authorised people can only access and update the chain details. Based on the storage availability, it adds a new block to the blockchain. The primary objective of the proposed methodology is to enhance network scalability and improve blockchain usability in real-time applications, such as supply chains, thereby reducing the risk of counterfeiting. From manufacturer to end-user, introducing blockchain technology will help maintain transparency among all parties, including manufacturers, distributors, retailers, and customers. The proposed algorithm provides security to the network and confidentiality to sensitive information.