A Novel Cost Minimization Approach for Data Transaction in the Context of IoT

With the advent of pervasive computing and ubiquitous services in today's life, there are numerous data-centric services boosted by IoT. Moreover, mobile devices and their utility have resulted in a huge amount of digital data content which fails to maintain QoS. Standalone IoT cannot handle all these huge data, which resulted in the merging of IoT with cloud computing. Similarly, the retrieval of required data has become more time-consuming with the exponential increase of IoT devices. In order to remove these shortcomings, we propose an IoT-enabled three-layered architecture to process huge data and support high-end processing, which is completely suitable for data transaction supporting IoT services. In this three-layered novel architecture, each layer is collectively responsible for data emission, data retrieval, or data processing, thus completing the data transaction process. A case study on smart healthcare system presents the efficacy of the model.