Setting up flexible and light weight trading with enhanced user privacy using smart contracts

Abstract

Smart Contracts (SC) extend the applicability of Blockchains (BC) in various decentralized use cases. This work demonstrates the design and implementation of a trading application which, employs SC and Ethereum BC. This Decentralized Application (Dapp) provides flexibility in requesting user Identity (ID) directly by seller/hirer and buyers/renter. To provide trust, deposits are paid by two sides while setting up contracts. WiFi- Direct is the chosen Device to Device (D2D) communication protocol which provides high data rates and secure data transmission. Light-Weight SC are introduced in this work which, use D2D communications for sending sold or rented object's or each party's images, and ID data directly to other party instead of storing them in the public BC to reduce the costs. Evaluations in terms of D2D deployment, transaction costs, and privacy, indicate that this system is time-efficient and manages the process in a cost-efficient fashion without the need to store and publish all of the user's ID information in BC.