Volume 12 - Issue 3
Blockchain-based fair and secure protocol for decentralized data trading
- Mi Hyeon Jeon
Dept. of Information Security, Graduate school, Pukyong National University
jmh3850@pukyong.ac.kr
- Sang Uk Shin
Div. of Computer Engineering, College of Information Technology and Convergence, Pukyong National University, 45, Yongso-ro, Nam-Gu, Busan, Republic of Korea
shinsu@pknu.ac.kr
Keywords: Blockchain, non-repudiation, data trading, fairness, decentralization
Abstract
Demand for data transactions has increased in various fields with the development of computing technology.
Several trading platforms have emerged to cater to this demand; however, most platforms
were designed with a centralized model, which has led to performance, security, and privacy concerns.
In addition, an increasing number of businesses are using only private platforms for trading to
maintain trade secrets. However, these platforms present security and fairness challenges, e.g., denial
of their actions by transaction participants and reliance on the trust of trusted third parties (TTPs).
To solve these problems, several studies have used blockchain to construct secure data trading platforms.
However, in most cases, decentralization is still not satisfied, such as TTP intervention in the
initial setting process of the protocol. This paper proposes a secure and fair data trading protocol
using blockchain technology. The proposed protocol eliminates the intervention of TTP by using
a randomized arbitrator node selection method for dispute resolution. Furthermore, all-or-nothing
transform (AONT) and dual-receiver cryptosystem (DRC) techniques are applied to ensure the requirements
for a fair trading platform such as fairness, timeliness and data confidentiality.