Abstract
Cognitive radio (CR) technology offers the possibility of an increase in spectrum utilization efficiency to resolve the prevalent spectrum scarcity problem. The economic survival of secondary spectrum markets (SSMs) is heavily dependent on the sharing of both the licensed spectrum and spectrum infrastructure by primary licensed operators (PLOs). In this research, an automated pricing model using a blockchain token called the spectrum dollar has been implemented for secondary radio spectrum trade. The use of spectrum dollars enables noncash-based secondary spectrum trade among PLOs based on a floor-and-trade rule. The pricing of spectrum dollars and the associated revenue shares are based on the underlying secondary spectrum trading behaviours of PLOs. PLOs that do not contribute enough secondary spectra to the SSM (to satisfy demand) suffer a loss proportional to the difference between their earned revenues and the specified floor value in the SSM. The secondary spectrum trade is assumed to be centrally managed by a spectrum broker, which announces the floor value for each bidding period while ensuring nonnegative revenue for the market itself. The use of the spectrum dollar along with the floor-and-trade methodology eliminates the possibilities for economic malpractice by PLOs that could increase spectrum reuse costs. In addition, the floor value provides automatic regulatory control to ensure the economic viability and prevent the technological hijacking of future SSMs.
Highlights
The utilization efficiency of numerous radio spectrum bands licensed by the Federal Communications Commission (FCC) is very low in general, while the use by existing wireless networks of specific licensed and unlicensed bands is highly congested [1,2,3,4,5,6,7]
We have proposed a blockchain-based model of a secondary spectrum market based on spectrum dollar tokens
The floor-and-trade rule is applied to regulate spectrum dollar pricing depending on the performance of the overall trade in the secondary spectrum markets (SSMs) rather than that of individual primary licensed operators (PLOs)
Summary
The utilization efficiency of numerous radio spectrum bands licensed by the Federal Communications Commission (FCC) is very low in general, while the use by existing wireless networks of specific licensed and unlicensed bands is highly congested [1,2,3,4,5,6,7]. A floor-and-trade rule is used to determine profitability shares based on the underlying secondary spectrum trading behaviours This rule determines the exchange rate of spectrum dollars, the corresponding shares of trading PLOs, and participation fees to be charged by the SSM to maintain a no-loss situation for the spectrum broker managing the secondary radio spectrum trade. The participation fee forces the participating PLOs to enable spectrum reuse and avoid insurance of loss to the spectrum broker managing the trade but can be used to generate revenues It enlarges the profitability of the largest contributors and at the same time maximizes the loss of the lowest contributors in the SSM for a given period.
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