Skimping on Gas – Reducing Ethereum Transaction Costs in a Blockchain Electricity Market Application

Jussi Hukkinen, Juri Mattila, Kari Smolander, Timo Seppälä, Tobias Goodden

Tutkimustuotos: Artikkeli kirjassa/konferenssijulkaisussaConference contributionScientificvertaisarvioitu

108 Lataukset (Pure)

Abstrakti

In recent years, information systems have not been largely evaluated by their operating costs, but mainly by their strategic benefit and competitive advantage. As blockchain-based decentralized applications become more commonplace, representing a shift towards fully consumption-based distributed computing, a new mode of thinking is required of developers, with meticulous attention to computational resource efficiency. This study improves on a blockchain application designed for conducting microtransactions of electricity in a nanogrid environment. By applying the design science research methodology, we improve the efficiency of the application’s smart contract by 11%, with further improvement opportunities identified. Despite the results, we find the efficiency remains inadequate for public Ethereum deployment. From the optimization process, we extrapolate a set of general guidelines for optimizing the efficiency of Ethereum smart contracts in any application.
AlkuperäiskieliEnglanti
OtsikkoProceedings of 52nd Hawaii International Conference on System Sciences
AlaotsikkoHICSS 2019
Sivut6875-6884
ISBN (elektroninen)978-0-9981331-2-6
TilaJulkaistu - 8 tammikuuta 2019
OKM-julkaisutyyppiA4 Artikkeli konferenssijulkaisuussa
TapahtumaAnnual Hawaii International Conference on System Sciences - Grand Wailea, Yhdysvallat
Kesto: 8 tammikuuta 201911 tammikuuta 2019
Konferenssinumero: 52

Conference

ConferenceAnnual Hawaii International Conference on System Sciences
LyhennettäHICSS
MaaYhdysvallat
KaupunkiGrand Wailea
Ajanjakso08/01/201911/01/2019

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  • Siteeraa tätä

    Hukkinen, J., Mattila, J., Smolander, K., Seppälä, T., & Goodden, T. (2019). Skimping on Gas – Reducing Ethereum Transaction Costs in a Blockchain Electricity Market Application. teoksessa Proceedings of 52nd Hawaii International Conference on System Sciences: HICSS 2019 (Sivut 6875-6884)