T-Smart: Trust Model for Blockchain Based Smart Marketplace

Abstract

With the innovation of embedded devices, the concept of smart marketplace came into existence. A smart marketplace is a platform on which participants can trade multiple resources, such as water, energy, bandwidth. Trust is an important factor in the trading platform, as the participants would prefer to trade with those peers who have a high trust rating. Most of the existing trust management models for smart marketplace only provide a single aggregated trust score for a participant. However, they lack the mechanism to gauge the level of commitment shown by a participant while trading a particular resource. This work aims to provide a fine-grained trust score for a participant with respect to each resource that it trades. Several parameters, such as resource availability, success rate, and turnaround time are used to gauge the participant’s level of commitment, specific to the resource being traded. Moreover, the effectiveness of the proposed model is validated through security analysis against ballot-stuffing and bad-mouthing attacks, along with simulationbased analysis and a comparison in terms of accuracy, false positive, false negative, computational cost and latency. The results indicate that the proposed trust model has 7% better accuracy, 30.13% lower computational cost and 31.74% less latency compared to the existing benchmark model.

Keywords

• smart marketplace
• nodes
• trust
• reputation
• blockchain
• smart contract