Recent research has focused on applying blockchain technology to solve security-related problems in Internet of Things (IoT) networks. However, the inherent scalability issues of blockchain technology become apparent in the presence of a vast number of IoT devices and the substantial data generated by these networks. Therefore, in this paper, we use a lightweight consensus algorithm to cater to these problems. We propose a scalable blockchain-based framework for managing IoT data, catering to a large number of devices. This framework utilizes the Delegated Proof of Stake (DPoS) consensus algorithm to ensure enhanced performance and efficiency in resource-constrained IoT networks. DPoS being a lightweight consensus algorithm leverages a selected number of elected delegates to validate and confirm transactions, thus mitigating the performance and efficiency degradation in the blockchain-based IoT networks. In this paper, we implemented an Interplanetary File System (IPFS) for distributed storage, and Docker to evaluate the network performance in terms of throughput, latency, and resource utilization. We divided our analysis into four parts: Latency, throughput, resource utilization, and file upload time and speed in distributed storage evaluation. Our empirical findings demonstrate that our framework exhibits low latency, measuring less than 0.976 ms. The proposed technique outperforms Proof of Stake (PoS), representing a state-of-the-art consensus technique. We also demonstrate that the proposed approach is useful in IoT applications where low latency or resource efficiency is required.
