Cheng Li, Hao Wu, Lei Xiong, Yunlong Lu, Chen Dong, Huiping Liu, Yue Liu
The Internet of Vehicles (IoV) connects roadside units, vehicles, and pedestrians into an efficient communication network. However, ensuring honesty among vehicles in such a decentralized system remains a challenge, especially for intersection management. To address this issue, we propose a blockchain-based IoV credit system. Drivers’ rushing behavior is a primary contributor to accidents at intersections. To solve this problem and enhance traffic efficiency, we propose a strategy that allows time-sensitive convoys to pass through an intersection ahead of others by paying traffic tokens via IoV while still complying with traffic regulations. To protect the privacy of the yielding vehicles, we develop an optimal pricing strategy for the rushing convoys using a dynamic game model with incomplete information, which is solved using a refined Bayesian Nash equilibrium. Furthermore, we introduce a blockchain consensus mechanism that employs a sequence chain to ensure a unique and consistent order for passing. Both theoretical analysis and simulations show that the proposed strategy is feasible and effective in meeting the practical need for low latency at intersections. It increases the likelihood of successful transactions, protects yielding convoys from lower benefits, and encourages broader participation.