Mechanisms for Fair Exchange and Micropayments in the Swarm
Nitesh Mor, John D. Kubiatowicz

Citation
Nitesh Mor, John D. Kubiatowicz. "Mechanisms for Fair Exchange and Micropayments in the Swarm". Talk or presentation, 5, November, 2013; Poster presented at the 2013 TerraSwarm Annual Meeting.

Abstract
Fair exchange of items between two parties is a problem that is traditionally solved by using a trusted escrow service. This problem becomes important in the context of swarm where different components of the swarm exchange money for services and trust is hard to build. Another important problem is that of micropayments: current digital payment infrastructures can not scale beyond a few thousand transactions per second. Thus, new mechanisms are required to handle payments for the swarm. We provide solution to both these problems using a combination of bitcoin and secure hardware (TPM). Bitcoin is used both as a digital currency and as a distributed consensus mechanism, while secure hardware on swarm devices prevents them from cheating.

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Citation formats

• HTML

  Nitesh Mor, John D. Kubiatowicz. <a
  href="http://www.terraswarm.org/pubs/216.html"><i>Mechanisms
  for Fair Exchange and Micropayments in the
  Swarm</i></a>, Talk or presentation,  5,
  November, 2013; Poster presented at the <a
  href="http://www.terraswarm.org/conferences/13/annual"
  >2013 TerraSwarm Annual Meeting</a>.

• Plain text

  Nitesh Mor, John D. Kubiatowicz. "Mechanisms for Fair
  Exchange and Micropayments in the Swarm". Talk or
  presentation,  5, November, 2013; Poster presented at the
  <a
  href="http://www.terraswarm.org/conferences/13/annual"
  >2013 TerraSwarm Annual Meeting</a>.

• BibTeX

  @presentation{MorKubiatowicz13_MechanismsForFairExchangeMicropaymentsInSwarm,
      author = {Nitesh Mor and John D. Kubiatowicz},
      title = {Mechanisms for Fair Exchange and Micropayments in
                the Swarm},
      day = {5},
      month = {November},
      year = {2013},
      note = {Poster presented at the <a
                href="http://www.terraswarm.org/conferences/13/annual"
                >2013 TerraSwarm Annual Meeting</a>.},
      abstract = {Fair exchange of items between two parties is a
                problem that is traditionally solved by using a
                trusted escrow service. This problem becomes
                important in the context of swarm where different
                components of the swarm exchange money for
                services and trust is hard to build. Another
                important problem is that of micropayments:
                current digital payment infrastructures can not
                scale beyond a few thousand transactions per
                second. Thus, new mechanisms are required to
                handle payments for the swarm. We provide solution
                to both these problems using a combination of
                bitcoin and secure hardware (TPM). Bitcoin is used
                both as a digital currency and as a distributed
                consensus mechanism, while secure hardware on
                swarm devices prevents them from cheating.},
      URL = {http://terraswarm.org/pubs/216.html}
  }
  

Posted by Nitesh Mor on 18 Nov 2013.
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