Novel Automatic Food Trading System Using Consortium Blockchain

Conventional food trading platforms face several issues, such as quickly to find trading objects and protect the reliability of transaction information. With e-commerce developing rapidly, food trading has also recently shifted to the online domain. Blockchain has changed many industries owing to its robustness, decentralization and end-to-end credibility. This paper proposes a novel Food Trading System with COnsortium blockchaiN (FTSCON) to improve trust and security issues in transactions. It uses consortium blockchain technology to set permission and authentication for different roles in food transaction, which meet the challenge of the privacy protection of multi-stakeholders. The algorithm of optimized transaction combination is designed for the purpose of helping users find suitable transaction objects. It can choose the optimized trading portfolio for buyers. The online double auction mechanism is used to eliminate competition. And the improved PBFT (iPBFT) is used to enhance efficiency of system. Moreover, a smart-contract life- cycle management method is introduced, and security analysis shows that FTSCON improves transaction security and privacy protection. Experiment results based on a series of data indicate that the proposed algorithm can achieve profit improvement of merchants.