A Decentralized Marketplace Application on the Ethereum Blockchain

Ranganthan, Vishnu Prasad; Dantu, Ram; Paul, Aditya; Mears, Paula; Morozov, Kirill

doi:10.1109/cic.2018.00023

Cited by 83 publications

(36 citation statements)

References 7 publications

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“…Take marketplace, hotel reservation, and manufacturing as examples, which are stated as below. The modern centralized or decentralized online marketplace [4][5][6] provides an alternative opportunity for participants to buy and sell products on the same platform. But it does not offer the contract function if the product needs a period of time to grow or manufacture.…”

Section: The Beimp Provides Contract Specification (Cspec) Andmentioning

confidence: 99%

“…However, there are large and unimportant contents such as images and product descriptions, which are not needed nor suitable to store and query on the blockchain. Referring to the paper [4,47], our platform accesses the complete information of users and contracts with the database and only transfers important information such as contracts and orders to blockchain for ensuring security. Mongoose converts the contents of the database into JavaScript objects, which makes the operation of MongoDB more convenient.…”

Section: B Backend Figure 2 System Backend and Frontendmentioning

confidence: 99%

“…A decentralized marketplace [4] is proposed to solve the drawbacks of the modern online marketplace, such as eBay and Amazon. This work can prevent the merchant from being blocked or discriminated against by the centralized system.…”

Section: ) System Comparison and Generalizabilitymentioning

confidence: 99%

“…Complete BeIMP Contract farming [2] Marketplace [4,5] Tourism and hospitality [7] Social manufacturing [10,11] Supply chain [55] Energy trading [56] Blockchain…”

Section: Propertiesmentioning

confidence: 99%

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Blockchain-Enabled Integrated Market Platform for Contract Production

2020

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Contract production and transaction are very common and important since it can greatly reduce future uncertainty and is well-organized by buyers, sellers, and trusted third parties (TTPs). However, current commodity trading systems (such as spot, futures, and forward contract) are still traditional centralized structures, which means that there may always be concerned about the single point of failure and data corruption. Besides, even though there already exists fragmentary decentralized applications (DApps) for the marketplace, order management, resale, delivery, financing, and insurance, they are not integrated for operating contract production and transaction comprehensively. In this work, a blockchain-enabled integrated marketing platform (BeIMP) is proposed for contract production and transactions. BeIMP is a consortium blockchain (CsBc) framework that enables better safety, efficiency, and interoperability among stakeholders. BeIMP can directly match producers and consumers and reduce the problem of intermediaries' improper market operation. BeIMP has a three-tier risk diversification mechanism. First, both parties can know the quantity and price according to the contract specification (CSpec) in advance to avoid future uncertainty. Second, the buyers can resell the established order if they need, thereby diversifying the risk. Third, the concept of insurance is introduced to reduce force majeure and other systemic risks. BeIMP can also help producers get the loan from the financial institution (FI) if they need fund for production. We implement and demonstrate the prototype in contract farming (CF) first and discuss its generalizability to other scenarios. Experiment results show that the smart contract (SC) function is stable enough and the proof of authority (PoA) has the advantage in throughput and can give users a better experience.

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Section: The Beimp Provides Contract Specification (Cspec) Andmentioning

confidence: 99%

Section: B Backend Figure 2 System Backend and Frontendmentioning

confidence: 99%

Section: ) System Comparison and Generalizabilitymentioning

confidence: 99%

“…Complete BeIMP Contract farming [2] Marketplace [4,5] Tourism and hospitality [7] Social manufacturing [10,11] Supply chain [55] Energy trading [56] Blockchain…”

Section: Propertiesmentioning

confidence: 99%

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Blockchain-Enabled Integrated Market Platform for Contract Production

2020

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“…Due to this functionality, this platform has proved to be revolutionary for the development of decentralized applications. Diverse decentralized applications are proposed using the Ethereum platform, as examples are marketplace [9], e-voting [10], smart grid [11], social networks [12], smart home [13], e-health [14], fake news detection [15], and others. Considering this, it is clear that the Ethereum platform is viable for the development of IoT applications of various types due to its functionalities.…”

Section: Introductionmentioning

confidence: 99%

PRICHAIN: A Partially Decentralized Implementation of UbiPri Middleware Using Blockchain

Ochôa

Silva

Mello

et al. 2019

Sensors

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With the popularization of the Internet-of-Things, various applications have emerged to make life easier. These applications generate a large amount of user data. Analyzing the data obtained from these applications, one can infer personal information about each user. Considering this, it is clear that ensuring privacy in this type of application is essential. To guarantee privacy various solutions exist, one of them is UbiPri middleware. This paper presents a decentralized implementation of UbiPri middleware using the Ethereum blockchain. Smart contracts were used in conjunction with a communication gateway and a distributed storage service to ensure users privacy. The results obtained show that the implementation of this work ensures privacy at different levels, data storage security, and performance regarding scalability in the Internet of Things environments.

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