DataMesh+: A Blockchain-Powered Peer-to-Peer Data Exchange Model for Self-Sovereign Data Marketplaces

Area of Science:

• Computer Science
• Information Systems
• Blockchain Technology

Background:

• Data is a valuable digital asset in modern economies, traded on peer-to-peer (P2P) marketplaces.
• Traditional centralized data marketplaces lack trust, transparency, fairness, accountability, and security.
• Users often lack control and consent over their personal data in existing platforms.

Purpose of the Study:

• To propose and evaluate DataMesh+, a decentralized P2P data exchange model for self-sovereign data marketplaces.
• To address the limitations of centralized data trading platforms by leveraging blockchain technology.
• To empower users with full sovereignty and control over their data.

Main Methods:

• Design and implementation of a blockchain-powered decentralized P2P data exchange model (DataMesh+).
• Leveraging blockchain-based smart contracts for enabling secure and transparent data trading.
• Experimental testing and validation to evaluate model acceptability and reliability.
• Assessment of security and performance, including smart contract costs and network performance.

Main Results:

• Demonstrated the feasibility of the DataMesh+ model through design and implementation.
• Experimental validation confirmed the model's acceptability and reliability for data exchange.
• Security and performance assessments provided insights into transaction costs and network efficiency.

Conclusions:

• DataMesh+ offers a viable, user-centric decentralized solution for data marketplaces.
• The blockchain-powered approach enhances trust, transparency, fairness, and security in data trading.
• Users gain full sovereignty and control over their data within the proposed marketplace model.