Abstract
In recent years, the Internet of Things has developed rapidly. With the popularity of 5G, the Internet of Things is about to enter every corner of our lives. With the popularization of IoT devices, a large amount of data will be generated, which includes all aspects of people’s lives. Therefore, data has become one of the important commodities. This paper proposes a solution for Internet of Things data transactions through the “payment channel network” (PCN) technology based on blockchain. The use of PCN technology based on blockchain not only guarantees the security of data, conforms to the characteristics of IoT data decentralization, but also ensures the transaction rate, and solves the problem of long delay and slow transaction rate in traditional blockchain technology. In this article, we constructed a PCN-based transaction model, and compared the transaction delay based on blockchain and the transaction delay based on PCN through experiments.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Poon, J., Dryja, T.: The Bitcoin Lightning Network: Scalable OffChain Instant Payments, Whitepaper (2016)
Yu, R., Xue, G., Kilari, V.T., et al.: CoinExpress: a fast payment routing mechanism in blockchain-based payment channel networks. In: 2018 27th International Conference on Computer Communication and Networks (ICCCN), pp. 1–9. IEEE (2018)
Liu, K., et al.: Optimal pricing mechanism for data market in blockchain-enhanced Internet of Things. IEEE Internet Things J. 6(6), 9748–9761 (2019)
Cao, X., Chen, Y., Liu, K.J.R.: Data trading with multiple owners, collectors, and users: an iterative auction mechanism. IEEE Trans. Signal Inf. Process. Netw. 3(2), 268–281 (2017)
Niu, C., Zheng, Z., Wu, F., Gao, X., Chen, G.: Achieving data truthfulness and privacy preservation in data markets. IEEE Trans. Knowl. Data Eng. 31(1), 105–119 (2019)
Li, Z., Kang, J., Yu, R., Ye, D., Deng, Q., Zhang, Y.: Consortium blockchain for secure energy trading in industrial internet of things. IEEE Trans. Ind. Inf. 14(8), 3690–3700 (2017)
Lu, Z., Wang, Q., Qu, G., Liu, Z.: Bars: a blockchain-based anonymous reputation system for trust management in vanets. In: 2018 17th IEEE International Conference On Trust, Security And Privacy In Computing And Communications/12th IEEE International Conference On Big Data Science And Engineering (TrustCom/BigDataSE), pp. 98–103. IEEE, August 2018
Yu, G., Nie, T., Li, X., Zhang, Y., Shen, D., Bao, Y.: Distributed data management technology in blockchain system-challenges and prospects. Chin. J. Comput. 1–27 (2019)
Poon, J., Dryja, T.: The Bitcoin Lightning Network: Scalable Off-chain Instant Payments (2016)
Ford, L.R., Fulkerson, D.R.: Maximal flow through a network. Classic papers in combinatorics, pp. 243–248. Birkhäuser Boston (2009)
Zhang, Y., Yang, D., Xue, G.: Cheapay: an optimal algorithm for fee minimization in blockchain-based payment channel networks. In: ICC 2019–2019 IEEE International Conference on Communications (ICC). IEEE (2019)
Perkins, C., Belding-Royer, E., Das, S.: RFC3561: Ad Hoc On-demand Distance Vector (AODV) Routing (2003)
Stoykov, L., Zhang, K., Jacobsen, H.-A.: Vibes: fast blockchain simulations for large-scale peer-to-peer networks. In: Proceedings of the 18th ACM/IFIP/USENIX Middleware Conference: Posters and Demos (2017)
Christopher, H., Jin, D.: Bitcoin payment-channels for resource limited IoT devices. In: Proceedings of the International Conference on Omni-Layer Intelligent Systems (2019)
Zhang, Yu., Wen, J.: The IoT electric business model: using blockchain technology for the internet of things. Peer-to-Peer Netw. Appl. 10(4), 983–994 (2017)
Acknowledgments
This work is supported by the National Natural Science Foundation of China under Grants no. 61662042, 61262081, and 61462056; the Yunnan Provincial Key Project of Applied Basic Research Plan under Grants no. 2014FA028.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Singapore Pte Ltd.
About this paper
Cite this paper
Li, D., Feng, Y., Xiao, Y., Tang, M., Fu, X. (2020). A Data Trading Scheme Based on Payment Channel Network for Internet of Things. In: Zheng, Z., Dai, HN., Fu, X., Chen, B. (eds) Blockchain and Trustworthy Systems. BlockSys 2020. Communications in Computer and Information Science, vol 1267. Springer, Singapore. https://doi.org/10.1007/978-981-15-9213-3_25
Download citation
DOI: https://doi.org/10.1007/978-981-15-9213-3_25
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-15-9212-6
Online ISBN: 978-981-15-9213-3
eBook Packages: Computer ScienceComputer Science (R0)