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Using Blockchain to Support Data & Service Monetization

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Using Blockchain to Support Data & Service Monetization Using Blockchain to support Data & Service Monetization A Thesis Submitted to the College of Graduate and Postdoctoral Studies in Partial Fulfillment of the Requirements for the degree of Master of Science in the Department of Computer Science University of Saskatchewan Saskatoon By Obaro Ogheneyoma Odiete c Obaro Ogheneyoma Odiete, February/2018. All rights reserved. Permission to Use In presenting this thesis in partial fulfilment of the requirements for a Postgraduate degree from the University of Saskatchewan, I agree that the Libraries of this University may make it freely available for inspection. I further agree that permission for copying of this thesis in any manner, in whole or in part, for scholarly purposes may be granted by the professor or professors who supervised my thesis work or, in their absence, by the Head of the Department or the Dean of the College in which my thesis work was done. It is understood that any copying or publication or use of this thesis or parts thereof for financial gain shall not be allowed without my written permission. It is also understood that due recognition shall be given to me and to the University of Saskatchewan in any scholarly use which may be made of any material in my thesis. Requests for permission to copy or to make other use of material in this thesis in whole or part should be addressed to: Head of the Department of Computer Science 176 Thorvaldson Building 110 Science Place University of Saskatchewan Saskatoon, Saskatchewan S7N 5C9 Canada OR College of Graduate and Postdoctoral Studies University of Saskatchewan 116 - 110 Science Place Saskatoon SK S7N 5C9 Canada i Abstract Two required features of a data monetization platform are query and retrieval of the metadata of the resources to be monetized. Centralized platforms rely on the maturity of traditional NoSQL database systems to support these features. These databases, for example,mm MongoDB allows for very efficient query and retrieval of data it stores. However, centralized platforms come with a bag of security and privacy concerns, making them not the ideal approach for a data monetization platform. On the other hand, most existing decentralized platforms are only partially decentralized. In this research, I developed Cowry, a platform for publishing metadata describing available resources (data or services), discovery of published metadata including fast search and filtering. My main contribution is a fully decentralized architecture that combines blockchain and traditional distributed database to gain additional features such as efficient query and retrieval of metadata stored on the blockchain. ii Acknowledgements I would like to express sincere thanks to my supervisors, Dr. Ralph Deters and Dr. Kevin Schneider for their guidance and funding throughout the duration of my Masters program. I would also like to appreciate all the members of my thesis committee: Dr. Chanchal Roy, Dr. Anh Dinh and Dr. Julita Vassileva for their thoughtful comments. In addition, I acknowledge my friends and colleagues in MADMUC Lab especially Kiemute Oyibo, Ifeoma Adaji and Tanvi Jain for all the interesting discussions. I also appreciate friends from outside of the lab including Richard Lomotey and Johnson Iyilade. Finally, I thank my parents and family for their patience and abiding love. iii This thesis is dedicated to the Almighty God. iv Contents Permission to Use i Abstract ii Acknowledgements iii Contents v List of Tables vii List of Figures viii List of Abbreviations x 1 Introduction 1 1.1 Background . 1 1.2 Thesis Structure . 3 2 Problem Definition 4 2.1 Research Questions . 6 2.2 Research Objectives . 6 3 Literature Review 7 3.1 Blockchain . 7 3.1.1 Blockchain Ledger . 7 3.1.2 Blockchain Network . 8 3.1.3 Distributed Consensus . 9 3.1.4 Cryptocurrency . 11 3.1.5 Types of Blockchain . 11 3.1.6 Blockchain as a Database . 12 3.2 Bitcoin . 13 3.2.1 Transaction Model . 14 3.2.2 Smart Contract . 14 3.3 MultiChain . 15 3.3.1 Mining Diversity . 15 3.3.2 Assets . 15 3.3.3 Streams . 15 3.3.4 Oracle . 16 3.4 Other Blockchain Platforms . 16 3.4.1 BigChainDB . 16 3.4.2 Hyperledger fabric . 16 3.5 Characteristics, Applications & Challenges of Blockchain . 17 3.5.1 Characteristics . 17 3.5.2 Applications . 17 3.5.3 Challenges . 18 3.6 Data Monetization Solutions . 18 3.7 Other Related works . 21 3.7.1 Access Control . 21 3.7.2 Provenance . 23 3.8 RESTful Web Services . 24 v 3.9 Summary . 25 4 Architecture 27 4.1 Design Objectives . 27 4.2 Design Considerations . 28 4.2.1 Cryptocurrency . 28 4.2.2 Hashing & Encryption . 28 4.2.3 Keys . 28 4.2.4 Reputation . 29 4.3 Cowry Architecture . 29 4.3.1 Application Layer . 31 4.3.2 Middleware Layer . 31 4.3.3 Blockchain Layer . 32 4.4 Sequence Diagrams . 35 4.5 Summary . 36 5 Implementation 37 5.1 Software Requirement . 37 5.2 Implementation . 37 5.2.1 Blockchain . 38 5.2.2 Cowry Middleware . 38 5.3 Deployment . 39 5.4 Summary . 40 6 Evaluation 41 6.1 Performance Evaluation . 41 6.1.1 Local Environment . 42 6.1.2 Cloud Environment . 49 6.2 Summary . 57 7 Conclusion 58 7.1 Contributions . 59 7.2 Limitations . 59 7.3 Future Works . 59 References 61 vi List of Tables 3.1 Summary of literature review . 26 5.1 Software requirements . 37 6.1 Local environment setup requirements . 42 6.2 Cloud environment setup requirements . 49 7.1 Comparison of Cowry data monetization platform and other platforms . 59 vii List of Figures 1.1 Continuously growing amount of data generated . 1 1.2 Data economy monetization example . 2 2.1 Illustration of the centralized model . 4 2.2 Illustration of the isolated model . 5 3.1 Sequence of blocks in a blockchain . 8 3.2 Merkle tree . 9 3.3 Digital signing of transaction . ..
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