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Blockchain-enabled auction for cloud resource provisioning: a survey on trust and economy

Author

Listed:
  • Ritu Singhal

    (Indraprastha College of Women)

  • Varun Sharma

    (Indraprastha College of Women)

  • Ishita Singhal

    (I.P. University)

  • Vikas Bansal

    (Netlink Digital Solutions)

Abstract

Blockchain has become a game-changing technology in the dynamic world of technological breakthroughs, offering a variety of benefits to enterprises. The blockchain-enabled auction pricing model emerges as a promising approach to enhance trust and promote economic efficiency in Cloud Resource Provisioning (CRP). This review paper focuses on the advantages of implementing blockchain technology for the auctioning CRP as well as the obstacles that must be overcome. The potential to improve trust, auditing, compliance, economy, and sustainability in the online market by transforming traditional processes is examined in this article. This research reviews previous studies and surveys and compiles research efforts in CRP that use auction models with tamper-free blockchain technology. It reveals a compelling opportunity to introduce novelty and innovation to the industry's conventional centralized practices in the auctioning of CRP. This literature review provides an overview of the current state of research in this field, focusing on how blockchain technology coupled with auction pricing models can foster trust among stakeholders and optimize economic outcomes in cloud resource allocation. By analyzing recent studies, this paper identifies key trends, challenges, and opportunities for leveraging blockchain in cloud computing with an auction pricing model. The outcomes of the review survey will theoretically support the innovative application of the blockchain-enabled CRP auction for secure compliance across a range of businesses.

Suggested Citation

  • Ritu Singhal & Varun Sharma & Ishita Singhal & Vikas Bansal, 2024. "Blockchain-enabled auction for cloud resource provisioning: a survey on trust and economy," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(7), pages 2787-2807, July.
    • Handle: RePEc:spr:ijsaem:v:15:y:2024:i:7:d:10.1007_s13198-024-02314-x
    DOI: 10.1007/s13198-024-02314-x
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    References listed on IDEAS

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    1. Paul Klemperer, 1999. "Auction Theory: A Guide to the Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 13(3), pages 227-286, July.
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