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Towards a Trustful Game-Theoretic Mechanism for Data Trading in the Blockchain-IoT Ecosystem

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Abstract

This paper introduces a data trading system based on the blockchain network, where a trusted data aggregator collects data from the Internet of Things (IoT) device owners and sells them in the format of different packages to multiple buyers. In this paper, we formulate infinitely repeated games between rational buyers that are competing with each other to obtain the required data records. Buyers update their bidding strategies to maximize their profits based on the outcome of previous games. We validate the existence and uniqueness of the Nash equilibrium in a one-shot game, finite, and infinitely repeated games. To ensure data owners’ privacy, a novel trust mechanism design is used to impede untruthful buyers to win the game. To prevent the use of a third party such as an auctioneer, all of these methods are implemented as smart contracts on the Hyperledger blockchain. We provide extensive analysis to demonstrate that the proposed system satisfies the properties of completeness, soundness, computationally efficiency, truthfulness, budget balance, and individual rationality. Lastly, we provide simulation experiments to demonstrate the performance of our blockchain network using different metrics, such as transaction throughput, latency, and resource consumption under different parameters.

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Acknowledgements

We acknowledge the support of the Natural Sciences and Engineering Research Council of Canada (NSERC).

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Authors and Affiliations

  1. Department of Electrical and Computer Engineering, Lakehead University, 955 Oliver Road, Thunder Bay, ON, P7B 5E1, Canada

    Seyednima Khezr

  2. Department of Software Engineering, Lakehead University, 955 Oliver Road, Thunder Bay, ON, P7B 5E1, Canada

    Abdulsalam Yassine & Rachid Benlamri

  3. University of Doha for Science and Technology, 24449 Arab League St, Doha, Qatar

    Rachid Benlamri

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  1. Seyednima Khezr
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  3. Rachid Benlamri
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Correspondence to Seyednima Khezr.

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Khezr, S., Yassine, A. & Benlamri, R. Towards a Trustful Game-Theoretic Mechanism for Data Trading in the Blockchain-IoT Ecosystem. J Netw Syst Manage 30, 56 (2022). https://doi.org/10.1007/s10922-022-09669-1

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