Abstract
Service Level Agreements (SLAs) provide a basis for establishing contractually binding interactions within Peer-2-Peer systems. Such SLAs are particularly useful when considering interactions in environments with limited trust between participants. Complementary currencies, on the other hand, have proven to be useful for facilitating exchange among selfish peers. We identify how an SLA can itself be used as a complementary currency to encourage resource sharing between peers. Our work demonstrates how an SLA can be used as a medium of exchange and used to establish a market for computational resources. The value of an SLA can vary based on demand for particular types of resources. Simulate a process of trade we investigate several economic indicators qualified for their significance in small economies. We demonstrate how the economic benefit (in terms of profit and loss) evolves based on varying levels of demand.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Cox, L.P., Noble, B.D.: Samsara: Honor Among Thieves in Peer-to-Peer Storage. In: In Proc. of 19th ACM Symposium on Operating Systems Principles, pp. 120–132. ACM Press, New York (2003)
Open Grid Forum: WS-Agreement Specification (March 14, 2007), http://www.ogf.org/documents/GFD.107.pdf
Fugger, R.: Money as IOUs in Social Trust Networks and a proposal for a Decentralized Currency Network protocol (2004), http://ripple.sourceforge.net/
Glover, P.: Ithaca Hours, http://www.ithacahours.com
Jelasity, M., Montresor, A., Jesi, G.P., Voulgaris, S.: The Peersim simulator, http://peersim.sf.net
Komarov, A.: Geek Credit, http://home.gna.org/geekcredit/
Moreton, T., Twigg, A.: Trading in Trust, Tokens, and Stamps. In. In: Proc. of the First Workshop on Economics of Peer-to-Peer Systems (2003)
Saito, K.: i-WAT: The Internet WAT System – An Architecture for Maintaining Trust and Facilitating Peer-to-Peer barter Relations. PhD thesis, School of Media and Governance, Keio University (February 2006)
Saito, K.: WOT for WAT: Spinning the Web of Trust for Peer-to-Peer Barter Relationships. IEICE Trans. on Communication 88, 1503–1510 (2005)
Saito, K., Morino, E.: Local production, local consumption storage economics for peer-to-peer systems. In: Proceedings of the 2008 International Symposium on Applications and the Internet. IEEE Computer Society Press, Los Alamitos (2008)
Saito, K., Morino, E.: The brighter side of risks in peer-to-peer barter relationships. Future Generation Computer Systems. Corrected Proof (in Press, 2010)
Saito, K., Morino, E., Murai, J.: Incentive-Compatibility in a Distributed Autonomous Currency System. In: Despotovic, Z., Joseph, S., Sartori, C. (eds.) AP2PC 2005. LNCS (LNAI), vol. 4118, pp. 44–57. Springer, Heidelberg (2006)
Saito, K., Morino, E., Murai, J.: Reduction Over Time: Easing the Burden of Peer-to-Peer Barter Relationships to Facilitate Mutual Help. In: Computer Supported Activity Coordination, pp. 28–37. INSTICC Press (2005)
Schraven, J.: Mutual Credit Systems and the Commons Problem: Why community currency systems such as LETS need not collapse under opportunistic behavior. Int. Jour. of Community Currency Research 5 (2001), http://www.geog.le.ac.uk/ijccr/
watsystems.net. Watsystems homepage, http://www.watsystems.net
Yang, B., Garcia-Molina, H.: PPay: Micropayments for Peer-to-Peer Systems, pp. 300–310. ACM Press, New York (2003)
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2010 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Petri, I., Rana, O., Cosmin Silaghi, G. (2010). SLA as a Complementary Currency in Peer-2-Peer Markets. In: Altmann, J., Rana, O.F. (eds) Economics of Grids, Clouds, Systems, and Services. GECON 2010. Lecture Notes in Computer Science, vol 6296. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-15681-6_11
Download citation
DOI: https://doi.org/10.1007/978-3-642-15681-6_11
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-15680-9
Online ISBN: 978-3-642-15681-6
eBook Packages: Computer ScienceComputer Science (R0)