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Blockchain-Based Distributed Marketplace

  • Oliver R. Kabi
  • Virginia N. L. Franqueira
Conference paper
Part of the Lecture Notes in Business Information Processing book series (LNBIP, volume 339)

Abstract

Developments in Blockchain technology have enabled the creation of smart contracts; i.e., self-executing code that is stored and executed on the Blockchain. This has led to the creation of distributed, decentralised applications, along with frameworks for developing and deploying them easily. This paper describes a proof-of-concept system that implements a distributed online marketplace using the Ethereum framework, where buyers and sellers can engage in e-commerce transactions without the need of a large central entity coordinating the process. The performance of the system was measured in terms of cost of use through the concept of ‘gas usage’. It was determined that such costs are significantly less than that of Amazon and eBay for high volume users. The findings generally support the ability to use Ethereum to create a distributed on-chain market, however, there are still areas that require further research and development.

Keywords

Blockchain Smart contract Ethereum E-commerce Distributed systems 

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Cyber Security Research Group, College of Engineering and TechnologyUniversity of DerbyDerbyUK

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