Fair auctioning and trading framework for cloud virtual machines based on blockchain

Cloud auction provides a cost-effective approach to cloud resource allocation. Most existing cloud auction mechanisms simply assume that the auctioneer is trustable, and overlook the fairness of auctions. However, in fact, such a trustable auctioneer may not exist, and the fairness is non-trivial to guarantee. In this work, for the first time, we propose a decentralized auctioning and trading framework for cloud virtual machines based on blockchain. We realize both auction fairness and trade fairness among participants (e.g., cloud provider and cloud users), which guarantees each participant will not suffer any loss as long as it follows the protocol. Furthermore, we implement our system through the local analog network and Ethereum official test network, carry out experimental simulation, and demonstrate the feasibility of our system.

Automated summary

This study proposes a decentralized auctioning and trading framework for cloud virtual machines based on blockchain, ensuring fairness in both auction and trade among participants, and guaranteeing that participants will not suffer any loss.