VePraN: A Secure and Verifiable Decentralized Data Marketplace

Abstract

Data marketplace are rapidly gaining traction as critical components of the modern data economy. However, traditional centralized marketplaces suffer from inherent challenges such as data leakage, lack of user control and single points of failure. To address these limitations, we propose Versatile Peer Network (VePran) – a decentralized data market place built on the Web3 suite of technologies. VePraN is designed to be modular, scalable and aligned with open standards, ensuring broad interoperability and future extensibility. Leveraging the InterPlanetary File System for persistent storage and blockchain for identity and ownership management, the platform offers a robust infrastructure that enhances data security and provenance. Unlike existing buyer centric solutions, VePraN adopts a seller oriented approach, empowering data owners with greater autonomy, fair exchange and control over their data assets. In addition to enabling secure data exchange, the platform facilitates the trading of machine learning models, expanding its utility in AI driven ecosystems. Verification mechanisms such as Merkle roots and Non- Fungible Tokens are employed to ensure data integrity and authenticity. This paper presents the architecture and implementation of VePraN as a foundational step toward a more equitable and resilient data exchange system.