A Privacy-Enabled, Blockchain-Based Smart Marketplace

Abstract

Advancements in sensor-enabled devices led to the emergence of resource trading models for smart communities, such as the smart marketplace (SMP). Most of the proposed SMP architectures are based on blockchain technology, which has a public ledger to achieve transparency. Consequently, safeguarding the participant’s anonymity, untraceability, and transactional data privacy during trading becomes a challenging task. Most of the existing solutions to achieve anonymity are based on multiple account mapping, which is prone to identity-based attacks, and cryptographic techniques are used to achieve transactional data privacy, which often has a high computational overhead. In this work, we propose a lightweight privacy-enabled message exchange mechanism to accomplish our privacy goals in a blockchain-based SMP. Evaluation of the scheme was conducted to measure its resilience toward safeguarding participants’ anonymity, untraceability, and transactional data privacy during trading cycles. Statistical game theory-based security analysis and simulation based performance analysis of the proposed scheme showed that it achieved the desired privacy goals with a low computational overhead compared with existing state-of-the-art schemes.