IOTA-based Micropayment of IoT Data

Abstract

In the IoT, the payment frequently occurs between service users, device owners, and service platforms as they enjoy the services. In line with the incentive payments, micropayment, a small-amount electronic payment system, has been attracting attention as a payment system for applications. At the same time, the payment on a distributed ledger has been attracting attention as a payment method for micropayment, but there is a problem that the transaction fee for micropayment is high from the viewpoint of the frequency of transactions. In this paper, we propose a method that enables IoT transactions to be conducted on IOTA, one of the distributed ledger technologies with no transaction fees and high scalability, for micropayment transactions that can be made with fine granularity of amounts. The proposed method enables IoT transactions with less processing and delay time than a group of payments. In the proposed method, we compared the search time and memory requirements of four search methods for searching transaction records in IOTA. As a result, we confirm a trade-off between the transaction search time and the amount of required memory.