Modeling and Analysis of Data Trading on Blockchain-Based Market in IoT Networks

Mobile devices with embedded sensors for data collection and environmental sensing create a basis for a cost-effective approach for data trading. For example, these data can be related to pollution and gas emissions, which can be used to check the compliance with national and international regulatio...

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Bibliographic Details
Published in:IEEE internet of things journal 2021-04, Vol.8 (8), p.6487-6497
Main Authors: Nguyen, Lam Duc, Leyva-Mayorga, Israel, Lewis, Amari N., Popovski, Petar
Format: Article
Language:English
Subjects:
Blockchain
Cryptography
Data collection
Data models
data trading
Distributed databases
Distributed ledger
distributed ledger technology (DLT)
Downlink
Electronic devices
Embedded sensors
Energy consumption
Internet of Things
Internet of Things (IoT)
Narrowband
narrowband IoT (NB-IoT)
Network latency
Sensors
smart city
smart contract
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Summary:Mobile devices with embedded sensors for data collection and environmental sensing create a basis for a cost-effective approach for data trading. For example, these data can be related to pollution and gas emissions, which can be used to check the compliance with national and international regulations. The current approach for IoT data trading relies on a centralized third-party entity to negotiate between data consumers and data providers, which is inefficient and insecure on a large scale. In comparison, a decentralized approach based on distributed ledger technologies (DLT) enables data trading while ensuring trust, security, and privacy. However, due to the lack of understanding of the communication efficiency between sellers and buyers, there is still a significant gap in benchmarking the data trading protocols in IoT environments. Motivated by this knowledge gap, we introduce a model for DLT-based IoT data trading over the narrowband Internet-of-Things (NB-IoT) system, intended to support massive environmental sensing. We characterize the communication efficiency of three basic DLT-based IoT data trading protocols via NB-IoT connectivity in terms of latency and energy consumption. The model and analyses of these protocols provide a benchmark for IoT data trading applications.
ISSN:2327-4662
2327-4662
DOI:10.1109/JIOT.2021.3051923