Yotta: A Large-Scale Trustless Data Trading Scheme for Blockchain System

TL;DR

Yotta is a scalable, trustless data trading scheme for blockchain that leverages cryptography, IPFS, and zk-SNARKs to enable large-scale, secure data exchange aligned with Web 3.0 principles.

Contribution

It formalizes property requirements for large-scale Web 3.0 data trading and introduces Yotta, a novel blockchain-based scheme utilizing cryptography, IPFS, and zk-SNARKs.

Findings

Yotta outperforms baseline approaches by up to 130 times.

Yotta demonstrates excellent scalability and property satisfaction.

The scheme effectively supports large-scale, secure data trading in blockchain systems.

Abstract

Data trading is one of the key focuses of Web 3.0. However, all the current methods that rely on blockchain-based smart contracts for data exchange cannot support large-scale data trading while ensuring data security, which falls short of fulfilling the spirit of Web 3.0. Even worse, there is currently a lack of discussion on the essential properties that large-scale data trading should satisfy. In this work, we are the first to formalize the property requirements for enabling data trading in Web 3.0. Based on these requirements, we are the first to propose Yotta, a complete batch data trading scheme for blockchain, which features a data trading design that leverages our innovative cryptographic workflow with IPFS and zk-SNARK. Our simulation results demonstrate that Yotta outperforms baseline approaches up to 130 times and exhibits excellent scalability to satisfy all the properties.