3.1.2. EconLedger Fabric

The EconLedger fabric provides fundamental networking and security infrastructure to support decentralized security features for the IoVT system. All authorized devices firstly store raw ENF fingerprints into the DDB, then the devices launch transactions that include hashed references of raw data along with valid signatures. As transactions store fixed-length hashed references rather than raw data with varying size, such an off-chain manner reduces storage overhead when IoVT devices verify transactions and synchronize the ever-increasing distributed ledger.

EconLedger uses a small PoENF committee to achieve high efficiency by reducing message propagation delay and communication overhead on the edge network. Given a random committee election mechanism, only a subset of nodes within the network are elected as PoENF committee members. The PoENF consensus protocol is only executed by validators of a PoENF committee instead of all nodes in the network. Therefore, scalability is improved at the cost of partial decentralization by a PoENF consensus committee.

Meanwhile, a random PoENF committee rotation strategy ensures that robustness is not sacrificed due to fewer validators. Combining the current status of the distributed ledger, a distributed randomness protocol acts as the oracle to periodically generate global randomness strings for PoENF committee selection. As randomness strings are biasresistant and unpredictable, the probability of an adversary dominating a subsequent committee decreases exponentially even if the current PoENF committee is compromised.
