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Information 2018, 9(11), 286;

Decentralized Transaction Mechanism Based on Smart Contract in Distributed Data Storage

School of Information Engineering, Huzhou University, Huzhou 313000, China
College of Mathematics and Computer Science, Zhejiang Normal University, Jinhua 321004, China
Author to whom correspondence should be addressed.
Received: 1 October 2018 / Revised: 1 November 2018 / Accepted: 14 November 2018 / Published: 17 November 2018
(This article belongs to the Special Issue BlockChain and Smart Contracts)
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Distributed data storage has received more attention due to its advantages in reliability, availability and scalability, and it brings both opportunities and challenges for distributed data storage transaction. The traditional transaction system of storage resources, which generally runs in a centralized mode, results in high cost, vendor lock-in and single point failure risk. To overcome the above shortcomings, considering the storage policy with erasure coding, in this paper we propose a decentralized transaction method for cloud storage based on a smart contract, which takes into account the resource cost for distributed data storage. First, to guarantee the availability and decrease the storing cost, a reverse Vickrey-Clarke-Groves (VCG) based auction mechanism is proposed for storage resource selection and transaction. Then we deploy and implement the proposed mechanism by designing a corresponding smart contract. Especially, we address the problem of how to implement a VCG-like mechanism in a blockchain environment. Based on the private chain of Ethereum, we make the simulation for the proposed storage transaction method. The results of simulation show that the proposed transaction model can realize competitive trading of storage resources and ensure the safe and economic operation of resource trading. View Full-Text
Keywords: cloud storage; VCG (Vickrey-Clarke-Groves) mechanism; smart contract; security; erasure coding cloud storage; VCG (Vickrey-Clarke-Groves) mechanism; smart contract; security; erasure coding

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Gu, Y.; Hou, D.; Wu, X.; Tao, J.; Zhang, Y. Decentralized Transaction Mechanism Based on Smart Contract in Distributed Data Storage. Information 2018, 9, 286.

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