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Bazaar-Contract: A Smart Contract for Binding Multi-round Bilateral Negotiations on Cloud MarketsMay 31st, 2019
Abstract—Amazon’s EC2 On-Demand marketspace is the dominant platform for trading Cloud services such as virtual machines. On such platforms consumers and providers do not negotiate with each other. Instead, consumers purchase predefined virtual machines at fixed-prices and so this ap- proach is also termed take-it-or-leave-it approach. In the last years more dynamic platforms emerged such as Amazon’s spot marketspace which was relaunched at the end of 2017 - here consumers can bid for virtual machines. The recent efforts of Amazon and other Cloud providers such as VirtuStream show that dynamic trading mechanisms are a promising approach for realizing future Cloud markets. Hence, multi-round bilateral negotiations which are executed autonomously have gained popularity in the scientific community. A key challenge towards the adoption of autonomous multi-round bilateral negotiations is to ensure the integrity and transparency so that the generated agreements are legally biding. In the pap
