Atomic and fair data exchange via blockchain
Atomic and fair data exchange via blockchain by timdaub.eth12379 🥝 • 3y • 0 views • 0 clicks | |
AI summary of the linked articleA new paper from a16z crypto outlines the Fair Data Exchange (FDE) protocol, which lets a storage server transfer a data file to a client atomically, so the client receives the file if and only if the server receives an agreed-upon payment. The protocol uses a blockchain to enforce fairness and a new cryptographic primitive, Verifiable Encryption under Committed Key (VECK), to prove that off-chain encrypted data matches a specified commitment before the decryption key is sold on-chain. According to the article, a single FDE run on Ethereum costs about 200,000 gas for the server (under 10 USD) and about 30,000 gas for the client (under 1 USD). | |
 From reading the abstract, this seems EXTREMELY useful for many use cases I had in the past when I was working on NFTs and for the Ocean Protocol. I guess a drawback is that it uses KZG commitments, which, to me, still feels like using magic and not real technology. But it makes me wonder if I could read out the core idea of the paper and then just use, e.g., Merkle trees as a substitute. | |
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