Synergy of trust, blockchain and smart contracts for optimization of decentralized IoT service platforms

Besfort Shala*, Ulrich Trick, Armin Lehmann, Bogdan Ghita, Stavros Shiaeles

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

There is a high potential of creating new and market-ready services for the Internet of Things (IoT) community by enabling end-users to make their resources inside the end-user environment available to others. Thus, end-user friendly service platforms facilitate the process of designing and configuring new local and cooperative services. However, decentralized networks of end-users acting as service providers enable the risk of uncontrollable behavior and trustless activities. Blockchain technology coupled with smart contracts now gain popular attention by providing benefits of data immutability and process automation in open or closed communities. This research summarizes several blockchain-based IoT approaches, concluding with their benefits and limitations. Besides them it proposes an optimized and decentralized IoT marketplace consisting of end-user friendly IoT service platforms, forced by a synergy of trust, blockchain and smart contract elements. To highlight the benefits of this synergy, two smart contract use cases (based on Ethereum) in the IoT marketplace are presented.

Original languageEnglish
Title of host publicationAdvanced Information Networking and Applications - Proceedings of the 34th International Conference on Advanced Information Networking and Applications, AINA 2020
EditorsLeonard Barolli, Flora Amato, Francesco Moscato, Tomoya Enokido, Makoto Takizawa
PublisherSpringer
Pages547-558
Number of pages12
ISBN (Electronic)978-3-030-44041-1
ISBN (Print)978-3-030-44040-4
DOIs
Publication statusPublished - 28 Mar 2020
Event34th International Conference on Advanced Information Networking and Applications - Caserta, Italy
Duration: 15 Apr 202017 Apr 2020

Publication series

NameAdvances in Intelligent Systems and Computing
Volume1151
ISSN (Print)2194-5357
ISSN (Electronic)2194-5365

Conference

Conference34th International Conference on Advanced Information Networking and Applications
Abbreviated titleAINA 2020
CountryItaly
CityCaserta
Period15/04/2017/04/20

Keywords

  • Blockchain
  • Distributed Ledger Technology
  • Ethereum
  • Internet of Things
  • Peer-to-Peer
  • Service and application
  • Smart contract
  • Trust

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