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

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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.

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  1. Indraprastha College of Women, New Delhi, Delhi, India

    Ritu Singhal & Varun Sharma

  2. Maharaja Surajmal Institute of Technology, I.P. University, New Delhi, Delhi, India

    Ishita Singhal

  3. Netlink Digital Solutions, Gurugram, Haryana, India

    Vikas Bansal

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  1. Ritu Singhal
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  2. Varun Sharma
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  3. Ishita Singhal
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Singhal, R., Sharma, V., Singhal, I. et al. Blockchain-enabled auction for cloud resource provisioning: a survey on trust and economy. Int J Syst Assur Eng Manag (2024). https://doi.org/10.1007/s13198-024-02314-x

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