A Fair Protocol for Data Trading Based on Bitcoin Transactions

Sergi Delgado-Segura; Cristina Pérez-Solà; Guillermo Navarro-Arribas; Jordi Herrera-Joancomart\'ı

Paper 2017/1018

A Fair Protocol for Data Trading Based on Bitcoin Transactions

Sergi Delgado-Segura, Cristina Pérez-Solà, Guillermo Navarro-Arribas, and Jordi Herrera-Joancomart\'ı

Abstract

On-line commercial transactions involve an inherent mistrust between participant parties since, sometimes, no previous relation exists between them. Such mistrust may be a deadlock point in a trade transaction where the buyer does not want to perform the payment until the seller sends the good and the seller does not want to do so until the buyer pays for the purchase. In this paper we present a fair protocol for data trading where the commercial deal, in terms of delivering the data and performing the payment, is atomic since the seller cannot redeem the payment unless the buyer obtains the data and the buyer cannot obtain the data without performing the payment. The protocol is based on Bitcoin scripting language and the fairness of the protocol can be probabilistically enforced.

Note: Preprint of: Sergi Delgado-Segura, Cristina Pérez-Solà, Guillermo Navarro-Arribas, Jordi Herrera-Joancomartí, A fair protocol for data trading based on Bitcoin transactions, In Future Generation Computer Systems, 2017, In Press, ISSN 0167-739X, https://doi.org/10.1016/j.future.2017.08.021. (http://www.sciencedirect.com/science/article/pii/S0167739X17318344)

Metadata

Available format(s): PDF
Category: Applications
Publication info: Published elsewhere. Minor revision. Future Generation Computer Systems
DOI: 10.1016/j.future.2017.08.021
Keywords: electronic commerce and payment fair exchange blockchain Bitcoin
Contact author(s): guillermo navarro @ uab cat
History: 2017-10-25: revised; 2017-10-25: received; See all versions
Short URL: https://ia.cr/2017/1018
License: CC BY

BibTeX

@misc{cryptoeprint:2017/1018,
      author = {Sergi Delgado-Segura and Cristina Pérez-Solà and Guillermo Navarro-Arribas and Jordi Herrera-Joancomart\'ı},
      title = {A Fair Protocol for Data Trading Based on Bitcoin Transactions},
      howpublished = {Cryptology {ePrint} Archive, Paper 2017/1018},
      year = {2017},
      doi = {10.1016/j.future.2017.08.021},
      url = {https://eprint.iacr.org/2017/1018}
}