A main difference between a typical database and a blockchain is the way the data is structured. A blockchain collects information in groups, also known as blocks containing sets of information. Blocks have certain storage capacities and, when filled, are chained with the previously filled block and form a data chain known as a «blockchain». All the new information that follows this freshly added block is compiled to form a newly formed block, which will be added to the chain as soon as it is filled. 15.2.1 The arbitration shall be conducted by a single, neutral arbitrator and shall be conducted in English in the county or municipality of your billing address or at any other location compatible with both parties. The arbitrator shall apply the law of the State of New York, without regard to its conflict of laws rules. The arbitrator may assign any facility that a competent court may award, including attorneys` fees, if permitted by law, and the arbitration decision may be enforced in any court. You agree that the arbitrator shall have the power to order a remedy and you agree to abide by all decisions and arbitral awards made in such proceedings, which are final and conclusive. At your request, hearings may be held in person or by telephone, and the arbitrator may provide that requests for submissions are made and prepared without a hearing. The successful party in any legal action or proceeding under this Agreement shall be entitled to reasonable costs and attorneys` fees. A distributed digital ledger system (blockchain) stores encrypted and hashed authenticated data, which is immutable, and any changes or errors can be attributed to their source. We used MultiChain (Greenspan, 2013) and Ethereum (Buterin, 2015) Blockchains to provide a non-editable private record of all transactions relating to user data. MultiChain, a private blockchain, has the potential to replace traditional centralized databases used to decentralizely store user data and offers more cryptographic auditing features.
Optionally, we can store any published item outside the chain, which saves space and bandwidth. However, due to its current architecture, MultiChain cannot support an access control mechanism that the proposed platform needs to provide users with means to control the similarity of their data and the rewards they receive. That`s why we use Ethereum, which supports smart Contracts and closes contract transactions. Smart Contracts regulate accountability for access and encourage users and app owners to share user data. The combination of the security and immutability of the data stored in the blockchain with the specific strengths of two popular blockchains – MultiChain and Ethereum – allows us to combine their advantages: the storage and exchange of correct data and smart contracts for access control mechanisms. In this way, our new platform addresses the shortcomings of traditional centralized user models used by Internet companies that have security flaws, have no accountability and deprive users of ownership, control and incentives to exchange data. MultiChain is a closed system that allows participants to control the maximum block size and set all blockchain parameters in a configuration file, which solves scalability issues. In addition, it contains only transactions that are of interest to participants. It can reach 1 GB per element (off-chain data) in the blockchain, with the data itself being delivered quickly via the peer-to-peer (P2P) network. The Miner of the Genesis block (first) automatically obtains all administrator rights, including the rights to manage the access rights of other users (Greenspan, 2013).
The administrator can give other participants permissions for network transactions that contain special metadata….