WARASHIBE Protocol: Fair Data-Data Exchange on Blockchain

We present "WARASHIBE," a fair data-data exchange protocol between two parties on the blockchain. Several data-cryptocurrency exchange protocols on the blockchain have been proposed, but there are significant technical challenges for direct data-data exchanges. To bridge this gap, we propose "WARASHIBE" , a fair data-data exchange protocol, which extends existing fair data-cryptocurrency exchange protocols under a novel yet practical assumption: honest parties do not incur financial losses even if malicious behavior occurs. We formalize the protocol within the Universal Composability (UC) framework. By implementing and evaluating the protocol on the Ethereum blockchain, we demonstrate that WARASHIBE is feasible for fair data-data exchange.