Futures-Based Resource Trading and Fair Pricing in Real-Time IoT Networks

TL;DR

This paper proposes a futures-based resource trading framework for real-time IoT networks to address resource constraints and ensure fair pricing, enhancing resource utilization and application performance.

Contribution

It introduces a novel futures-based trading model for IoT resource management that improves fairness and efficiency in resource-constrained environments.

Findings

Enhanced resource utilization in IoT networks

Fair pricing mechanisms for resource sharing

Improved support for real-time IoT applications

Abstract

Technology advancements on sensing, communications, and computing directly accelerate the recent development of Internet of Things (IoT), leading to rich and diverse applications in industry and business processes. For enabling IoT applications, smart devices and networks rely on the capabilities for information collection, processing and tight collaboration with their neighbors. However, the rapid proliferation of IoT devices and real-time IoT applications result in dramatically increased demand for communication and computing resources, posing a significant challenge for the underlying resource constrained wireless networks. Due to their resource constraint, it is extremely difficult for such devices and networks to meet stringent requirements of many real-time IoT applications. To overcome these challenges, resource sharing among IoT devices and networks has been studied as an effective solution by exploiting unused resources.