Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain

Lars Møller Mikkelsen; Kasper Wissing Mortensen; Henrik Heeggaard Rasmussen; Hans-Peter Schwefel; Tatiana Kozlova Madsen

doi:10.1109/IINTEC.2018.8695307

Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain

Lars Møller Mikkelsen, Kasper Wissing Mortensen, Henrik Heeggaard Rasmussen, Hans-Peter Schwefel, Tatiana Kozlova Madsen

Research output: Contribution to book/anthology/report/conference proceeding › Article in proceeding › Research › peer-review

10 Citations (Scopus)

Abstract

Usage of IoT marketplaces as central components in distributed systems have become common, as they allow for easy exploitation of other services and data sources. When relying on a marketplace to be available in order for a system to be operational, it is critical that the marketplace operation is highly robust. Marketplaces are typically centralized components which means that single point of failure is a possible issue. Also users of the marketplace must trust the operator to be fair and follow a common set of rules. This work proposes to utilize blockchain technology to realize a distributed marketplace where both functionalities and storage are distributed and thereby increasing availability to users, while removing the need for a central operator. The blockchain also makes the operational rules transparent to the users of the marketplace. In this relation two core marketplace functionalities, offering creation and discovery, are realized using smart contracts on a private Ethereum blockchain and evaluated using an experimental testbed. The results demonstrate the feasibility of a blockchain based marketplace implementation.

Original language	English
Title of host publication	2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)
Number of pages	6
Publisher	IEEE
Publication date	25 Apr 2019
Pages	47-52
Article number	8695307
ISBN (Print)	978-1-5386-9132-8
ISBN (Electronic)	978-1-5386-9131-1
DOIs	https://doi.org/10.1109/IINTEC.2018.8695307
Publication status	Published - 25 Apr 2019
Event	2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC) - Hamammet, Tunisia Duration: 20 Dec 2018 → 21 Dec 2018

Conference

Conference	2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)
Country/Territory	Tunisia
City	Hamammet
Period	20/12/2018 → 21/12/2018

Keywords

Blockchain
Ethereum
Marketplace
Performance evaluation
Testbed realization

Access to Document

10.1109/IINTEC.2018.8695307

AUB Link

Search for the material in Aalborg University Library's search engine

Cite this

@inproceedings{126f6490ec834193a1f44c3b6b632179,

title = "Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain",

abstract = "Usage of IoT marketplaces as central components in distributed systems have become common, as they allow for easy exploitation of other services and data sources. When relying on a marketplace to be available in order for a system to be operational, it is critical that the marketplace operation is highly robust. Marketplaces are typically centralized components which means that single point of failure is a possible issue. Also users of the marketplace must trust the operator to be fair and follow a common set of rules. This work proposes to utilize blockchain technology to realize a distributed marketplace where both functionalities and storage are distributed and thereby increasing availability to users, while removing the need for a central operator. The blockchain also makes the operational rules transparent to the users of the marketplace. In this relation two core marketplace functionalities, offering creation and discovery, are realized using smart contracts on a private Ethereum blockchain and evaluated using an experimental testbed. The results demonstrate the feasibility of a blockchain based marketplace implementation.",

keywords = "Blockchain, Ethereum, Marketplace, Performance evaluation, Testbed realization",

author = "Mikkelsen, {Lars M{\o}ller} and Mortensen, {Kasper Wissing} and Rasmussen, {Henrik Heeggaard} and Hans-Peter Schwefel and Madsen, {Tatiana Kozlova}",

year = "2019",

month = apr,

day = "25",

doi = "10.1109/IINTEC.2018.8695307",

language = "English",

isbn = "978-1-5386-9132-8",

pages = "47--52",

booktitle = "2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)",

publisher = "IEEE",

address = "United States",

note = "2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC), (IINTEC) ; Conference date: 20-12-2018 Through 21-12-2018",

}

Mikkelsen, LM, Mortensen, KW, Rasmussen, HH, Schwefel, H-P & Madsen, TK 2019, Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain. in 2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)., 8695307, IEEE, pp. 47-52, 2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC), Hamammet, Tunisia, 20/12/2018. https://doi.org/10.1109/IINTEC.2018.8695307

Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain. / Mikkelsen, Lars Møller; Mortensen, Kasper Wissing; Rasmussen, Henrik Heeggaard et al.
2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC). IEEE, 2019. p. 47-52 8695307.

Research output: Contribution to book/anthology/report/conference proceeding › Article in proceeding › Research › peer-review

TY - GEN

T1 - Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain

AU - Mikkelsen, Lars Møller

AU - Mortensen, Kasper Wissing

AU - Rasmussen, Henrik Heeggaard

AU - Schwefel, Hans-Peter

AU - Madsen, Tatiana Kozlova

PY - 2019/4/25

Y1 - 2019/4/25

N2 - Usage of IoT marketplaces as central components in distributed systems have become common, as they allow for easy exploitation of other services and data sources. When relying on a marketplace to be available in order for a system to be operational, it is critical that the marketplace operation is highly robust. Marketplaces are typically centralized components which means that single point of failure is a possible issue. Also users of the marketplace must trust the operator to be fair and follow a common set of rules. This work proposes to utilize blockchain technology to realize a distributed marketplace where both functionalities and storage are distributed and thereby increasing availability to users, while removing the need for a central operator. The blockchain also makes the operational rules transparent to the users of the marketplace. In this relation two core marketplace functionalities, offering creation and discovery, are realized using smart contracts on a private Ethereum blockchain and evaluated using an experimental testbed. The results demonstrate the feasibility of a blockchain based marketplace implementation.

AB - Usage of IoT marketplaces as central components in distributed systems have become common, as they allow for easy exploitation of other services and data sources. When relying on a marketplace to be available in order for a system to be operational, it is critical that the marketplace operation is highly robust. Marketplaces are typically centralized components which means that single point of failure is a possible issue. Also users of the marketplace must trust the operator to be fair and follow a common set of rules. This work proposes to utilize blockchain technology to realize a distributed marketplace where both functionalities and storage are distributed and thereby increasing availability to users, while removing the need for a central operator. The blockchain also makes the operational rules transparent to the users of the marketplace. In this relation two core marketplace functionalities, offering creation and discovery, are realized using smart contracts on a private Ethereum blockchain and evaluated using an experimental testbed. The results demonstrate the feasibility of a blockchain based marketplace implementation.

KW - Blockchain

KW - Ethereum

KW - Marketplace

KW - Performance evaluation

KW - Testbed realization

UR - http://www.scopus.com/inward/record.url?scp=85065549636&partnerID=8YFLogxK

U2 - 10.1109/IINTEC.2018.8695307

DO - 10.1109/IINTEC.2018.8695307

M3 - Article in proceeding

SN - 978-1-5386-9132-8

SP - 47

EP - 52

BT - 2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)

PB - IEEE

T2 - 2018 International Conference on Internet of Things, Embedded Systems and Communications (IINTEC)

Y2 - 20 December 2018 through 21 December 2018

ER -

Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain

Abstract

Conference

Keywords

Access to Document

AUB Link

Other files and links

Fingerprint

BigIoT: Bridging the Interopeability Gap of the Internet-of-Things

Cite this

Realization and Evaluation of Marketplace Functionalities Using Ethereum Blockchain

Abstract

Conference

Keywords

Access to Document

AUB Link

Other files and links

Fingerprint

Projects

BigIoT: Bridging the Interopeability Gap of the Internet-of-Things

Cite this