Decentralised Services Allocation on Blockchain
This collection delves into scalable allocation methods for decentralised services on the blockchain, discussing topics such as network resource sharing, decentralised storage, smart contracts, and more. Explore innovative approaches to service allocation and incentivisation in a decentralised ecosystem.
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Presentation Transcript
Scalable Allocation for Decentralised Services on Blockchain Navin V. Keizer, Onur Ascigil, Ioannis Psaras, George Pavlou July 2021 Coseners 21
Towards a Decentralised Future Building blocks of a decentralised Web Blockchains and Smart Contracts Decentralised Storage Networks Network Resource Sharing Services 2
Network Resource Sharing Services Sell spare network resources off-chain, in return for cryptocurrency rewards B A Storage sharing example 3
Decentralised Service Examples Leverage Blockchain to provide incentive Computation Bandwidth Storage 4
How will a node find and be allocated to a service node?
Decentralised Allocation Triangle Scalability Preference based Price Derivation 6
Option 1: Orderbook on Blockchain 1. Buyers post a price they are willing to pay on-chain 2. Sellers post a price they are willing to accept for payment on-chain 3. They are then matched to each other based on prices The final step may include an off-chain negotiation 7
Option 1: Orderbook on Blockchain Scalability Orderbook Preference based Price Derivation 8
Option 2: Blockchain Auctions Decentralised auctions are possible using smart contracts Single-item auctions (e.g. Vickrey) Multi-item auctions (e.g. VCG) 1. Sellers set a hidden minimum price for a service on-chain 2. Buyers submit (sealed) bids for an item to the blockchain 3. After a collection time, the contract decides the who the auction is 9
Option 2: Blockchain Auctions Scalability Preference based Price Derivation Auctions 10
FLOCK [1] Decoupled price derivation from allocation computation Billboard and Oracle Smart Contracts Stable Matching Algorithms Trusted Execution Environment [1] Navin Keizer, Onur Ascigil, Ioannis Psaras, and George Pavlou, FLOCK: Fast, Lightweight, and Scalable Allocation for Decentralised Services on Blockchain , IEEE International Conference on Blockchain and Cryptocurrency (IEEE ICBC), 2021. 11
Overview of FLOCK Stable matching allows for allocation without monetary bids, solely on preference Preference lists can be incomplete (SMI) Multiple allocated to single clients within a budget (HR) Decoupled price derivation from computation Use billboard smart contracts to orchestrate allocation process Outsource heavy computation off-chain to TEE Use oracle contract to separately set a global price for a service
Option 3: FLOCK Scalability FLOCK Preference based Price Derivation
Performance Comparison Run time multi-item Throughput multi-item Algorithm Throughput (matchings / second) 106 0 HR VDA Optimal HR VDA Vickrey 0.5 Algorithm Run Time (seconds) 105 1 1.5 104 2 103 2.5 3 102 3.5 4 101 4.5 100 5 0 1000 2000 Number of Clients in Allocation 3000 4000 5000 6000 7000 8000 9000 0 1000 2000 Number of Clients in Allocation 3000 4000 5000 6000 7000 8000 9000 14
Smart Contracts Cost Comparison FLOCK PASTRAMI Trustee Client 143827 391046 1847178 Seller 92673 95934 143720 Execution Node * 7108 * Gas costs compared to auctions Function Gas Cost Deploy Contract 213008 Setup Oracle 71360 Update Oracle 56931 Gas costs per function 15
Thank You! Scalable Allocation for Decentralised Services on Blockchain Navin.Keizer.15@ucl.ac.uk July 2021 Coseners 21
