Blockchain Protocols and Edge Computing Targeting Industry 5.0 Needs

“Industry 5.0” is the latest industrial revolution. A variety of cutting-edge technologies, including artificial intelligence, the Internet of Things (IoT), and others, come together to form it. Billions of devices are connected for high-speed data transfer, especially in a 5G-enabled industrial environment for information collection and processing. Most of the issues, such as access control mechanism, time to fetch the data from different devices, and protocols used, may not be applicable in the future as these protocols are based upon a centralized mechanism. This centralized mechanism may have a single point of failure along with the computational overhead. Thus, there is a need for an efficient decentralized access control mechanism for device-to-device (D2D) communication in various industrial sectors, for example, sensors in different regions may collect and process the data for making intelligent decisions. In such an environment, reliability, security, and privacy are major concerns as most of the solutions are based upon a centralized control mechanism. To mitigate the aforementioned issues, this paper provides the opportunities for and highlights some of the most impressive initiatives that help to curve the future. This new era will bring about significant changes in the way businesses operate, allowing them to become more cost-effective, more efficient, and produce higher-quality goods and services. As sensors are getting more accurate, cheaper, and have lower time responses, 5G networks are being integrated, and more industrial equipment and machinery are becoming available; hence, various sectors, including the manufacturing sector, are going through a significant period of transition right now. Additionally, the emergence of the cloud enables modern production models that use the cloud (both internal and external services), networks, and systems to leverage the cloud’s low cost, scalability, increased computational power, real-time communication, and data transfer capabilities to create much smarter and more autonomous systems. We discuss the ways in which decentralized networks that make use of protocols help to achieve decentralization and how network meshes can grow to make things more secure, reliable, and cohere with these technologies, which are not going away anytime soon. We emphasize the significance of new design in regard to cybersecurity, data integrity, and storage by using straightforward examples that have the potential to lead to the excellence of distributed systems. This groundbreaking paper delves deep into the world of industrial automation and explores the possibilities to adopt blockchain for developing solutions for smart cities, smart homes, healthcare, smart agriculture, autonomous vehicles, and supply chain management within Industry 5.0. With an in-depth examination of various consensus mechanisms, readers gain a comprehensive understanding of the latest developments in this field. The paper also explores the current issues and challenges associated with blockchain adaptation for industrial automation and provides a thorough comparison of the available consensus, enabling end customers to select the most suitable one based on its unique advantages. Case studies highlight how to enable the adoption of blockchain in Industry 5.0 solutions effectively and efficiently, offering valuable insights into the potential challenges that lie ahead, particularly for smart industrial applications.