Proof of Usage: User-centric consensus for data provision and exchange
Résumé
This paper describes the Proof of Usage, a consensus algorithm empowering a new paradigm to incentive usage, valuation and control of user data. PoU is introduced in the scope of permissioned blockchain, designed for a user-centric personal data marketplace that is compliant with today's regulations, which public blockchains cannot satisfy. Previous consensuses such as Proof of Work and Proof of Stake do not encourage coin spending and usage (proof of stake does the opposite) despite the value of the currency depending on its use. Our paper begins with a contextualization of blockchain and the consensus. Thus, we discuss the motivation towards a new model for personal data exchange in a decentralized yet controlled environment where the PoU consensus interprets transactions and user control over their data. Finally, the paper describes the protocol and process flow, the two different approaches regarding the rewarding mechanism and the security measures that PoU ensures.
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