Data Trading System Using Blockchain with Oracle Network
Mohammad Tanvir Hasan, Kazi Md. Rokibul Alam, Md. Ahsan Habib, Md. Navid Razzaque · 2023
Data is a crucial asset for Industry 4.0 serving to enhance operational processes, understand customer requirements, assist market decision-making, etc. Data trading systems have sprung up as an answer to a demand for Industry 4.0. However, they operate with systematic issues such as data reselling, inherent lack of trust between buyers and sellers, and botnet attacks. This paper proposes a blockchain-based data trading system that (i) operates under primarily an aggregate transaction mode where the system will act only as an intermediary, (ii) works in four main phases e.g., data-sale phase, contention phase, random arbitrator selection phase, and out-of-chain phase, of which the foremost is mandatory and the remaining are conditional, (iii) uses oracle network for automation and incorporating randomness into the process to fortify against adversary conditions, and (iv) incentivizes the fair behaviour through rewards. The experimental evaluations, analyses, comparisons with state-of-the-art works, etc., imply the efficacy of the proposed data trading system.