AStERISK: Auction-based Shared Economy ResolutIon System for blocKchain
This addresses the lack of automated and secure resolution mechanisms in blockchain-based shared economies, offering a decentralized solution for matching and pricing.
The paper tackles the problem of pairing workers and clients in decentralized shared economies by introducing AStERISK, a system that uses sealed-bid auctions on blockchains to automatically determine optimal prices and assign clients to suitable workers, with a smart contract implementation and initial benchmark on Chainspace.
Recent developments in blockchains and edge computing allows to deploy decentralized shared economy with utility tokens, where altcoins secure and reward useful work. However, the majority of the systems being developed, does not provide mechanisms to pair workers and clients, or rely on manual and insecure resolution. AStERISK bridges this gap allowing to perform sealed-bid auctions on blockchains, automatically determine the most optimal price for services, and assign clients to the most suitable workers. AStERISK allows workers to specify a minimal price for their work, and hide submitted bids as well the identity of the bidders without relying on any centralized party at any point. We provide a smart contract implementation of AStERISK and show how to deploy it within the Filecoin network, and perform an initial benchmark on Chainspace.