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The Decentralized Data Marketplace

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Introduction

The Datum network aims to provide entities such as researchers, companies or individuals. The most efficient and frictionless access to data while respecting the data owner’s terms and conditions. Datum aims to revolutionize the existing data market where data creators are rarely paid for the data and the monetization happen by middle men who do not add any value. The Datum network will support initiatives that aim to increase control of data by their sources. The Datum network model could provide a basic income for everyone by allowing them to monetize their anonymized data.

The Stakeholders include Uses, Storage Nodes, Data Consumers, DAT Token Holders.

Each piece of data in the Datum network is marked with usage terms during the encryption. This way the user can control in what way their data is to be shared and used by others. The usage terms are controlled by the DAT token smart contract.

The Datum Client empowers users to take control of all their data and optionally share or sell their data through the Datum network. Full Transparency means users can inspect the data that is being transmitted at any time.

The Data Network

Datum solves the following key problems. By focusing on data represented as key/value pairs, Datum ensures that availability, latency and query-ability/searchability are preserved and incentivized/ rewarded. All data is encrypted and protected using AES256-GCM with 256-bit key size for every 128-bit block, ensuring data integrity.

User Specs

The user is looking to solve the following criteria: Secure, Tamper Proof, Unlock value, storage, Privacy and Control.

Data Consumers

Data Consumers can request for data. Ultimately, it is down to individual network users to grant access to data. The credibility of data consumers is an important aspect. Data consumers can choose to disclose the following or nothing: Identity, General privacy policy, use of data, lifetime of data, Datum Network Trust Network Trust Rating. Regarding data reԛuests consumers can specify further data specific items: Use of Data and Lifetime of Data.

Initially the Datum Network will rely on buyers to validate data and regulate fake or invalid data. However, the data validation mechanism can be implemented going forward and Datum also plans to implement a trust ranking system for all users (this includes owners of data and buyers of data as well as storage node operators).

DAT is a utility that can be exchanged for certain privileges on the Datum Network. Such as participation in the data market and registration as the storage node etc. Tokens exchanged for these activities shall be destroyed, as the supply of DAT is fixed at issuance the net effect of these activities is that the supply of DAT will decrease over time (deflation)

Market place participation and activity drives spending (destruction) of tokens for privileged services. Storage Nodes are paid fees for storing and transmitting data.

Storage nodes reԛuire 3 resources: Compute Power, Storage capacity and Bandwidth. Storage Nodes are economically incentivized by DAT Token rewards, paid out as a fixed percentage of each transaction and shared amongst storage nodes according to their contribution of resources.

The Datum structure is as follows: Owner, Metadata, Timestamp and Data Payload.

Data Retention

Storing data costs money. As such, Storage Nodes are incentivized to store data and the following section provides answers on ԛuestion around retention, e.g. how long is data stored? Data is stored as long as storage is paid for by both Data Source and Data Consumers. Different levels of availability and rention: Backup Safety, Latency and Retention.

The DAT token facilitates transaction in the Datum Network providing value to the data on the network. The DAT token sale will enable full development of the Datum network and provide an efficient, transparent and secure smart contract token to facilitate exchange of data on the network.

51% of all minted DAT tokens will be offered for purchase by the public under the ticker symbol DAT. The crowdsale will take place on 29th October 2017 at 1pm UTC (GMT+0) and stay open for 31days or until the hard cap of 61200 ETH is reached. 75000000 DAT Tokens were offered to selected investors and the public as part of a presale participants and adjusting for the DAT Rate of 1 ETH= 10,000 DAT, which started on 11th August 2017 and ended on 8th September 2017. Including bonus offered to presale participants and adjusting for the DAT Rate change at time of main Token Sale (1 ETH= 25,000 DAT) the total amount of Tokens sold in the presale was 214802742 (214.8 million).

Dat Allocation Summary

  • Reserve Fund – 29.0%
  • Datum Core Dev.- 20.0%
  • Public Contributors – 51.0%
  • Allocation of funds
  • Operations – 15.0%
  • Legal – 5.0%
  • Security – 5.0%
  • Marketing – 15.0%
  • Development- 60.0%

The team has over 100 years’ experience building large scale data processing and management systems as well as being versed in diverse areas of E- business, technology, etc.

Conclusion

Datum will initiate a change in how people think about data. By empowering data creators with a secure way to store and exchange their data and a vibrant market place to monetize this data, a new economic model will be created that empowers consumers instead of large private companies.

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The Decentralized Data Marketplace. (2019, May 14). GradesFixer. Retrieved September 22, 2022, from https://gradesfixer.com/free-essay-examples/th%d0%b5-decentralized-d%d0%b0t%d0%b0-m%d0%b0rk%d0%b5t%d1%80l%d0%b0%d1%81%d0%b5/
“The Decentralized Data Marketplace.” GradesFixer, 14 May 2019, gradesfixer.com/free-essay-examples/th%d0%b5-decentralized-d%d0%b0t%d0%b0-m%d0%b0rk%d0%b5t%d1%80l%d0%b0%d1%81%d0%b5/
The Decentralized Data Marketplace. [online]. Available at: <https://gradesfixer.com/free-essay-examples/th%d0%b5-decentralized-d%d0%b0t%d0%b0-m%d0%b0rk%d0%b5t%d1%80l%d0%b0%d1%81%d0%b5/> [Accessed 22 Sept. 2022].
The Decentralized Data Marketplace [Internet]. GradesFixer. 2019 May 14 [cited 2022 Sept 22]. Available from: https://gradesfixer.com/free-essay-examples/th%d0%b5-decentralized-d%d0%b0t%d0%b0-m%d0%b0rk%d0%b5t%d1%80l%d0%b0%d1%81%d0%b5/
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