BDTS: Blockchain-based Data Trading System

TL;DR

BDTS is a blockchain-based data trading system that ensures fair exchange by incentivizing honest behavior and punishing dishonesty, thus enabling trustworthy data transactions among distrustful parties.

Contribution

The paper introduces a novel blockchain-based protocol for fair data trading that incentivizes honesty and penalizes dishonesty, addressing trust issues in traditional data exchange.

Findings

Ensures fair exchange with incentives for honesty.

Achieves Nash equilibrium where all parties act honestly.

Proves efficiency and practicality through evaluation.

Abstract

Trading data through blockchain platforms is hard to achieve \textit{fair exchange}. Reasons come from two folds: Firstly, guaranteeing fairness between sellers and consumers is a challenging task as the deception of any participating parties is risk-free. This leads to the second issue where judging the behavior of data executors (such as cloud service providers) among distrustful parties is impractical in the context of traditional trading protocols. To fill the gaps, in this paper, we present a \underline{b}lockchain-based \underline{d}ata \underline{t}rading \underline{s}ystem, named BDTS. BDTS implements a fair-exchange protocol in which benign behaviors can get rewarded while dishonest behaviors will be punished. Our scheme requires the seller to provide consumers with the correct encryption keys for proper execution and encourage a rational data executor to behave faithfully for maximum benefits from rewards. We analyze the strategies of consumers, sellers, and dealers in the trading game and point out that everyone should be honest about their interests so that the game will reach Nash equilibrium. Evaluations prove efficiency and practicability.