Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum

Shaimaa Bajoudah; Paolo Missier

doi:10.1109/SWC50871.2021.00043

Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum

Shaimaa Bajoudah, Paolo Missier

Computer Science

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

Trading data as valuable assets has become a trend. Data such as IoT data constitute a new source of profit for their owners and they have become tradeable assets in data marketplaces. In this work, we present the technical implementation and evaluation of our marketplace model, which was introduced in a previous work. The marketplace supports the trading of streaming data, from offering data for sale and negotiating trade agreements, to automating trade obligations and fulfilment. It ends with payment settlement and the scoring of trade parties. We show that by using Ethereum blockchain technology and Ethereum smart contracts in particular, we can offer a trade-off between the gas price paid for transaction confirmation and the transaction latency, the time taken for an Ethereum network to process and confirm our marketplace transactions. We experimentally assess such trade-offs on a testbed using our marketplace implementation as a DApp.

Original language	English
Title of host publication	2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI)
Publisher	Institute of Electrical and Electronics Engineers (IEEE)
Pages	254-263
Number of pages	10
ISBN (Electronic)	9781665412360
ISBN (Print)	9781665429559
DOIs	https://doi.org/10.1109/SWC50871.2021.00043
Publication status	Published - 18 Nov 2021
Event	2021 IEEE SmartWorld, Ubiquitous Intelligence and Computing, Advanced and Trusted Computing, Scalable Computing and Communications, Internet of People, and Smart City Innovations, SmartWorld/ScalCom/UIC/ATC/IoP/SCI 2021 - Virtual, Online, United States Duration: 18 Oct 2021 → 21 Oct 2021

Publication series

Name	Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC

Conference

Conference	2021 IEEE SmartWorld, Ubiquitous Intelligence and Computing, Advanced and Trusted Computing, Scalable Computing and Communications, Internet of People, and Smart City Innovations, SmartWorld/ScalCom/UIC/ATC/IoP/SCI 2021
Country/Territory	United States
City	Virtual, Online
Period	18/10/21 → 21/10/21

Bibliographical note

Funding Information:
This research has been funded by Umm AlQura University, Makkah, The Kingdom of Saudi Arabia.

Publisher Copyright:
© 2021 IEEE.

Keywords

Cost Evaluation
DApp Implementation
Ethereum
Gas Price
IoT data Marketplace
Transaction Latency

ASJC Scopus subject areas

Artificial Intelligence
Computer Networks and Communications
Computer Science Applications
Computer Vision and Pattern Recognition
Safety, Risk, Reliability and Quality
Energy Engineering and Power Technology
Control and Optimization
Communication

Access to Document

10.1109/SWC50871.2021.00043Licence: None: All rights reserved

Cite this

Bajoudah, S., & Missier, P. (2021). Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum. In 2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI) (pp. 254-263). (Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC). Institute of Electrical and Electronics Engineers (IEEE). https://doi.org/10.1109/SWC50871.2021.00043

Bajoudah, Shaimaa ; Missier, Paolo. / Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum. 2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI). Institute of Electrical and Electronics Engineers (IEEE), 2021. pp. 254-263 (Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC).

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abstract = "Trading data as valuable assets has become a trend. Data such as IoT data constitute a new source of profit for their owners and they have become tradeable assets in data marketplaces. In this work, we present the technical implementation and evaluation of our marketplace model, which was introduced in a previous work. The marketplace supports the trading of streaming data, from offering data for sale and negotiating trade agreements, to automating trade obligations and fulfilment. It ends with payment settlement and the scoring of trade parties. We show that by using Ethereum blockchain technology and Ethereum smart contracts in particular, we can offer a trade-off between the gas price paid for transaction confirmation and the transaction latency, the time taken for an Ethereum network to process and confirm our marketplace transactions. We experimentally assess such trade-offs on a testbed using our marketplace implementation as a DApp.",

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Bajoudah, S & Missier, P 2021, Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum. in 2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI). Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC, Institute of Electrical and Electronics Engineers (IEEE), pp. 254-263, 2021 IEEE SmartWorld, Ubiquitous Intelligence and Computing, Advanced and Trusted Computing, Scalable Computing and Communications, Internet of People, and Smart City Innovations, SmartWorld/ScalCom/UIC/ATC/IoP/SCI 2021, Virtual, Online, United States, 18/10/21. https://doi.org/10.1109/SWC50871.2021.00043

Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum. / Bajoudah, Shaimaa; Missier, Paolo.
2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI). Institute of Electrical and Electronics Engineers (IEEE), 2021. p. 254-263 (Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

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Bajoudah S, Missier P. Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum. In 2021 IEEE SmartWorld, Ubiquitous Intelligence & Computing, Advanced & Trusted Computing, Scalable Computing & Communications, Internet of People and Smart City Innovation (SmartWorld/SCALCOM/UIC/ATC/IOP/SCI). Institute of Electrical and Electronics Engineers (IEEE). 2021. p. 254-263. (Symposia and Workshops on Ubiquitous, Autonomic and Trusted Computing, UIC-ATC). doi: 10.1109/SWC50871.2021.00043

Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum

Abstract

Publication series

Conference

Bibliographical note

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this