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Vana turns data into currency. Data submitted to the network becomes a digital asset that is transferable throughout Vana’s open data economy. Each data transaction includes the following metadata:
- Data type
- Format
- Data properties
- Reference to encrypted data storage location
- Attestations about the validity of the data
Users choose how they store their (encrypted) data and, at all times, maintain control over the encryption keys of their data. However, Vana allows users to delegate control and access of their data to trusted data custodians within the network. Data Custodians act as intermediaries that host and store user data following strict data protection regulations. Data Custodians can lessen the burden for users when it comes to managing and transacting with their data assets.
When files are added to the Data Registry Contract, a small gas fee must be paid to write that information onchain.
Data transactions. Note fees are rounded in this screenshot but are non-zero.