Market Management for P2P A Token-based Accounting System Nicolas - - PowerPoint PPT Presentation

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Market Management for P2P A Token-based Accounting System Nicolas - - PowerPoint PPT Presentation

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www.kom.e-technik.tu-darmstadt.de www.httc.de Market Management for P2P A Token-based Accounting System Nicolas Liebau, Prof. Dr.-Ing. Ralf Steinmetz TU Darmstadt - Darmstadt University of Technology, Dept. of Electrical Engineering and

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25.09.2003 file

Nicolas Liebau, Prof. Dr.-Ing. Ralf Steinmetz TU Darmstadt - Darmstadt University of Technology,

  • Dept. of Electrical Engineering and Information Technology, Dept. of Computer Science

KOM - Multimedia Communications Lab

  • Merckstr. 25, D-64283 Darmstadt, Germany,

Nicolas.Liebau@KOM.tu-darmstadt.de Tel.+49 6151 165240, Fax. +49 6151 166152

Market Management for P2P

A Token-based Accounting System

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Motivation

Coordination Coordination through through Market Market Mechanisms Mechanisms

Interactions between Peers

  • Not (centrally) controlled
  • Resource usage/provisioning
  • Not attributable
  • No incentives for provisioning
  • No charging calculation possible
  • Opportunistic behavior
  • Free-riding
  • Providing inferior service

Implications

  • System is
  • Unpredictable
  • Instable
  • Underperforming
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P2P Markets

The Hourglass Analogy

Service Author Producer Consumer Resource Provider

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Concept for Market Managed P2P

Uncertain Quality

  • f Goods

Free Riding Incentives Charging Resource Accounting Reputation Identity Opportunism Communities Voting Rules Service Agreements Price Dissemination

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Token-based Accounting

Tokens:

  • General medium for exchange

Issues:

  • Forgery
  • Quorum of trusted peers issue tokens
  • Using threshold RSA
  • Double Spending
  • Detectable & traceable
  • Owner-ID + unique Token-ID
  • Only Owner can spend token
  • Exchange of collected foreign tokens against own tokens
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Issuing Tokens – Exchange

Exchange of foreign tokens against own ones Exchange Function

  • Many possibilities
  • Implement different economic systems

Peer Super- Peer

Super- Peer Super- Peer Super- Peer Super- Peer

Collected (foreign) Tokens

1 2 3 4 5 6

New (unsigned) Tokens Partially signed Tokens New Tokens

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Simple Transaction

Service Requestor Service Provider

Service Request Costs ( )

Service

Accept Account Balance Account Balance

Own Tokens Own Tokens Foreign Tokens Foreign Tokens

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Token Exchange Trustworthy Transaction

Extended System

Peer Super- Peer

Super- Peer Super- Peer Super- Peer Super- Peer Collected (foreign) Tokens 1 2 4 5 6 7 New (unsigned) Tokens Partially signed Tokens New Tokens

Service Requestor Service Provider Service Request Costs ( )

Account Holder IDs 3

Service

Ready

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Conclusion

Advantages

  • Flexible value of a token
  • Flexible economic system
  • Incentive System
  • Exchange: N = 2 F
  • Market with virtual currency
  • Exchange : N = F
  • Flexible Charging
  • Trustworthy payment mechanism
  • Backup of tokens possible
  • On HDD, CD, …
  • Granting credit between peers
  • Critical: Cooperation of trusted Super-Peers
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Questions