A Comprehensive Review of Blockchain-Enabled Secure Trading Mechanisms for Smart Cities

Blockchain technology has emerged as a transformative solution for secure digital transactions, providing decentralized and tamper-resistant mechanisms for financial and asset trading. A wide range of blockchain-based trading mechanisms has been proposed across various applications, each employing distinct processes and different trading mechanism. However, assessing their comparative efficacy remains challenging due to this diversity, and there is a notable lack of comprehensive review studies addressing the issues. To bridge this gap, this paper presents a thorough review of blockchain-enabled trading mechanisms, focusing on critical trading parameters such as transparency, security, and efficiency. It also explores advanced models incorporating smart contracts, zero-collateral systems, and multi-level asset management strategies. Special attention is given to the trade-offs between decentralization and performance optimization within these systems. The review further examines the evolution of trading architectures, the role of consensus algorithms, and the application of cryptographic techniques in ensuring transaction integrity. Finally, the paper outlines current research trends, identifies open challenges, and suggests potential directions for future development, offering a comprehensive perspective on the strategic and technical advancements needed for secure and scalable blockchain-based trading platforms.