This paper proposes a hybrid consensus framework specifically designed for real-time Internet of Things (IoT) blockchain networks, where low latency, limited device capacity, and high scalability are critical requirements. Conventional approaches such as Proof of Work (PoW) and PBFT are unsuitable for IoT environments due to their computational overhead, energy consumption, and poor adaptability to heterogeneous devices. Our model integrates Proof of Validation (PoV) with Proof of Reputation (PoR) to select validators in a manner that balances efficiency, security, and decentralization. Transaction processing is modeled through M/M/1 queueing theory to enable priority handling of time-sensitive requests, while validator reputation dynamics are represented using Markov chains to capture state transitions under varying performance conditions. Practical IoT scenarios, including healthcare monitoring and smart transportation, are considered to highlight the relevance of the design. Simulation results demonstrate an average throughput of 1,995.8 transactions per block, latency of 0.0514 seconds, and energy consumption of 8.46 Wh per block. When compared with HB-IoT, HMM-Shard, and Microchain, the proposed framework achieves up to 22% lower latency, 15–30% higher throughput, and 35% better energy efficiency. These findings confirm the potential of the framework to support scalable, secure, and energy-aware blockchain infrastructures for real-time IoT applications.
