Using Blockchains for Agent-based Auctions

From the article: "To extend the lifetime of products, an agent is connected to the product. This agent has several roles. It depends on the phase of the lifecycle what these roles will be. One of the roles in the usage or recycling phase is to negotiate for buying spare parts in case a part of the product is broken. The same agent can also decide to offer spare parts to other agents to reuse working parts of a broken product. To accomplish this idea, a marketplace for agents has to be set up, where the auctions can take place. To support this concept, blockchain technology has been used. Blockchains are a new type of technology, known from bitcoins, but there are other cases where blockchains can be used. Blockchain is known for its decentralisation, transparency and for making trustful transactions. In this paper the working of different types of blockchains will be briefly explained and determined if they can be useful for online auctions by agents. A prototype of the marketplace using blockchains has been built."

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