Latency of Trading Transactions in Brokered IoT Data Marketplace in Ethereum

Abstract

Trading data as valuable assets has become a trend. Data such as IoT data constitute a new source of profit for their owners and they have become tradeable assets in data marketplaces. In this work, we present the technical implementation and evaluation of our marketplace model, which was introduced in a previous work. The marketplace supports the trading of streaming data, from offering data for sale and negotiating trade agreements, to automating trade obligations and fulfilment. It ends with payment settlement and the scoring of trade parties. We show that by using Ethereum blockchain technology and Ethereum smart contracts in particular, we can offer a trade-off between the gas price paid for transaction confirmation and the transaction latency, the time taken for an Ethereum network to process and confirm our marketplace transactions. We experimentally assess such trade-offs on a testbed using our marketplace implementation as a DApp.