A General and Configurable Framework for Blockchain-based Marketplaces
This work addresses the need for flexible blockchain solutions in marketplace applications, but it is incremental as it builds on existing blockchain concepts without introducing a new paradigm.
The authors tackled the problem of designing blockchain-based marketplaces by proposing a generic and configurable framework, and demonstrated its applicability through three diverse use cases.
The first generation of blockchain focused on digital currencies and secure storage, management and transfer of tokenized values. Thereafter, the focus has been shifting from currencies to a broader application space. In this paper, we systematically explore marketplace types and properties, and consider the mechanisms required to support those properties through blockchain. We propose a generic and configurable framework for blockchain-based marketplaces, and describe how popular marketplace types, price discovery policies, and other configuration parameters are implemented within the framework by presenting concrete event-based algorithms. Finally, we consider three use cases with widely diverging properties and show how the proposed framework supports them.