A Secure and Scalable Framework for Decentralized Data Storage and Trading Using Blockchain and Edge Computing

Abstract

With the proliferation of mobile devices such as smart phones, tablets, and laptops, consumers are creating and sharing large amounts of multimedia information such as images, videos, and documents. Traditional centralized systems have significant risks on data privacy and often share an unequal share of revenue with the intermediaries, which requires the creation of a secure, decentralized data trading and storage system. This paper presents a blockchain-based edge computing platform that leverages high capacity relay nodes to store encrypted and tamper-proof data to enable quick processing and maximize revenue to the data producers. A Rounding-based Data Placement Algorithm (RDPA) is a useful tool to locate cost-effective relay nodes to minimize storage and transmission costs, and a sustainable consensus mechanism, Proof-of-Data-Trading (PODT), is a synthesis of Proof-of-Work and Proof-of-Stake to safely publish blocks with the minimum use of energy. A set of encrypted data is stored on relay nodes and kept within a certain timeframe, and the metadata and location are recorded on the blockchain, which enables safe and open transactions between producers and consumers. Smart contracts make it possible to automate the data transaction, access, and verification process. A compression method is used to reduce the size of the large data items to make the most out of the relay nodes. The proposed solution will ensure decentralized storage of data in a way that is scalable, secure, and cost-effective which will enable the producers to support massive revenue potential and consumers to reliably retrieve data within a blockchain-based edge architecture.