# Smart Contract-Based Right-of-Way Trade with Game Theory in Blockchain-Enabled Internet of Vehicles
###### Abstract  
The Internet of Vehicles (IoV) has a significant impact on improving traffic efficiency and driving safety. In this paper, we propose an intelligent transportation credit system based on blockchain, and design a crossroad passing smart contract that allows time-sensitive convoys to pass a crossroad earlier by paying traffic tokens for right-of-way trade. Second, this paper formulates the time-cost optimization problem under the premise of protecting the privacy of preceding convoys. Based on game theory with incomplete information, two right-of-way optimal bid strategies are given. Both theoretical analysis and simulation prove that the strategy proposed in this paper effectively reduces the waiting time of time-sensitive vehicles at a crossroad and increases the trade success probability, which, in turn, improves the expected total profit of convoys and achieves Pareto improvement. Internet of Vehicles; right-of-way trade; game theory; smart contract; blockchain +
Footnote †: journal:  
csciences  
Footnote †: journal:conditions. In the literature [16], a blockchain-based secure data collection and exchange strategy for IoV is proposed, which can effectively eliminate several potential attacks and improve security, but its efficient, flexible, and practical implementation requires further research. In the literature [17], a blockchain and deep-learning-based privacy protection and security framework for IoV (P2 SF-IoV) is proposed, which effectively ensures the secure transmission of data in the network. However, due to the large number of urban vehicles, its efficiency and scalability have not been tested. The literature [18] proposes a blockchain-based decentralized trust management scheme using smart contracts. It is used to maintain and update reliable and consistent trust values across the network, as well as an incentive scheme to encourage peers to perform well. The field of traffic control and management is an important application scenario for IoV. Blockchain and its smart contracts provide a better solution for automated traffic control and management systems with its support for decentralized management, availability, automation, and immutability [6]. The literature [19] proposes an intelligent transport system, where a credit token method based on blockchain is used for vehicles to pay for services. Concerning convoy driving, a queueing model for self-driving cars in free-flowing traffic has been proposed in the literature [20], which is much better than the single-vehicle model in terms of fuel consumption. However, the driver's brainpower and the vehicle's computing power consumption have yet to be introduced into the energy optimization problem as a whole. The crossroad signal control problem is an important part of intelligent transportation. The literature [21] proposes an attribute and efficient blockchain-based model, i.e., the semicentralized traffic signal control (SCTSC) model. It also strikes a balance between privacy and information availability. However, this scheme has not yet considered the need for vehicle personalization and the transaction speed, and scalability of the blockchain in dense scenarios. In the literature [22], a traffic signal control mechanism based on federated blockchain is proposed, which can intelligently switch traffic signals, quickly assign green light duration, and ensure road safety. Smart contracts and artificial intelligence technologies are also used to control signal duration and coordinate signal management optimization and decision making. This solution can meet the safety requirements of IoV. In summary, there has been much research on IoV credit systems based on blockchain to solve intelligent transportation problems. In addition, the application of blockchain technology in crossroad signal control has attracted more and more attention. However, there are still some unsolved problems in the current research. 1.