PeerMart: secure decentralized pricing and accounting for peer to peer systems

The Internet is becoming increasingly populär as an infrastructurefor buyers and sellers to discoverand trade different kinds of goods in a fast and easy manner. As a result of the rapid technological progress, many more as wellas new types ofproduets and Services will be offered over the Internetin the near future, which will attract evenmore customers.This vast amount of goods and traders requires reliable trading mechanisms to be in place which are truly scalable and efficient. Existing online marketplaces like eBay typically rely on large, serverbased infrastruetures. Such centralized Systems are relatively easy to maintain and secure, however, they are often vulnerable against attacks and may suffer from overload or even failures on these Servers. At the same time, an increasing number of applications in the Internet benefit from the scalability and robustnessof emerging peer-to-peer (P2P) networks.P2P-basedapplications are fully decentralized Systems leveraging unusedresources of peers and thus, they are able to provide much higherre¬ liability and Performancethan traditional client/server-basedapplications. In turn, the approach developed and termedPeerMartdefines a decentral¬ ized and secure marketplace for trading any kind of Services such as the Pro¬ vision of hardware and Software resources over the Internet. It provides an auetion-basedmechanismcombiningthe economic efficiency ofdouble auctions with the technical Performance and robustness ofP2P networks that enables reliable, market-based pricing of any service being offered.

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