Distributed transaction processing and authentication system

Abstract

A method of recording a data transaction comprising, at a device associated with a first entity, determining first seed data, generating a record of a first transaction between the first entity and asecond entity, determining second seed data by combining at least the first seed data and the record of the first data transaction, generating a first hash by hashing the second seed data, the first hash comprising a history of data transactions involving the first entity and storing the first hash against the record of the first data transaction in a memory.

Description

technical field [0001] The present invention relates to a system and method for executing transactions at scale, securely, and near real-time in a single incarnation. Background technique [0002] Transaction processing involves large-scale distributed computer-based systems, and, in particular, involves multiple parties performing transactions in the payment field, but also in other financial asset and commodity transactions, entity access control, logic to data Access, manage, and monitor the devices that make up the Internet of Things (IoT), etc. [0003] When building a transaction processing system, engineers must make difficult trade-offs. This includes choosing between speed and flexibility, throughput and consistency, security and performance, consistency and scalability, and more. This trade-off usually affects the overall system. Payment processing systems reflect the effects of these trade-offs. Payment processing may need to process 600 to tens of thousands o...

AI Technical Summary

Problems solved by technology

Another impact is the inability to ensure that the data collected by the device is actually related to a specific event detected by the device

[0007] Cloud-based information storage systems also exhibit these trade-offs, often resulting in a large number of servers and systems that can only guarantee eventual consistency

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