Two-tier token method and system for asset-based consensus

Abstract

The invention provides a method and a system for implementing a double-layer block chain account book. The blockchain system includes a plurality of connected verifier computer nodes maintaining a bilayer blockchain account book, and producer nodes connected to the system and associated with physical asset production entities. The double-layer block chain account book comprises first-layer tokens and second-layer tokens, the first-layer tokens are manufactured based on physical asset production data from a producer, and the number of the second-layer tokens in the account book depends on the total number of the first-layer tokens. The producer node may receive a newly generated first layer token after manufacturing. An active verifier node selected from the verifier nodes forms a consensus based on the pledge of the second tier token and / or the bidding of the first tier token to verify the block in the dual tier blockchain ledger. The active verifier node may obtain a newly generated second layer token based on the total amount of first layer tokens.

Description

[0001] CROSS-REFERENCE TO RELATED APPLICATIONS

[0002] This application claims priority to U.S. Provisional Patent Application Serial No. 63 / 330,996, filed on April 14, 2022. Technical Field

[0003] The present disclosure relates to methods and systems for an asset-based consensus blockchain system. Background Art

[0004] Traditionally, asset-backed tokens are minted based on some claim to off-chain assets. Asset-backed tokens are subject to regulation that limits their tradability and are subject to the risk that bad actors can mint tokens freely.

[0005] Real-life assets and tokens often trigger securities laws. If a token represents a claim to an asset, this may limit the freedom and convenience of token trading, which can increase the complexity of trading activities and become a source of frustration for traders. These tokens are often called security tokens.

[0006] Like the stock market, regulated securities markets offer many products to investors. Regulated service providers are constantly innovating to offer new products to as many users as possible. Regulation of these markets is considered an important tool used to protect investors.

[0007] Even if security tokens are legally created, such tokens often rely on external trust to maintain the correct link to the underlying off-chain assets. For example, gold-backed tokens rely on off-chain audits of the gold stored in the vault. Fiat-backed tokens rely on off-chain audits of the holder’s financial status.

[0008] Risk mitigation has been attempted through clever structuring of underlying assets and through threats of legal action against bad actors. However, ex post enforcement is often insufficient to remedy. Therefore, risk prevention is an important consideration when tokens are backed by real-world assets.

[0009] Blockchain technology has emerged as a solution to these challenges by providing a decentralized, transparent and secure platform for storing, managing and exchanging digital information.

[0010] A defining characteristic of blockchain-based assets is that they are not backed by physical assets like gold or traditional fiat currencies. Instead, the value of these digital assets comes from a variety of factors, including their scarcity, utility, and the consensus of their users. The lack of physical asset backing presents unique opportunities and challenges for the development and implementation of blockchain technology.

[0011] The lack of physical backing can provide advantages such as increased flexibility and reduced reliance on centralized institutions, which can lead to faster transaction processing and lower fees. In addition, the intangibility of blockchain-based assets allows for seamless integration into digital ecosystems such as e-commerce platforms, decentralized finance (DeFi) applications, and digital identity systems.

[0012] However, the lack of physical backing also presents certain challenges and limitations. For example, the value of blockchain-based assets may be more volatile than traditional assets, making them susceptible to market fluctuations and speculation. In addition, the lack of a tangible basis can lead to suspicion and resistance from certain user groups, regulators, and traditional financial institutions.

[0013] Despite the challenges posed by the intangible nature of blockchain-based assets, there is enormous potential for innovation in the development and implementation of blockchain technology.

[0014] Given the above shortcomings of current asset-based tokens, there is potential for innovation in the development and implementation of blockchain technology. Summary of the invention

[0015] It is an object of the present disclosure to ameliorate one or more disadvantages of the prior art.

[0016] An object of the present disclosure is to provide a two-tier token system with freely tradable tokens, where the supply of tokens is based on physically generated assets.

[0017] The purpose of this disclosure is to provide a secure and reliable consensus process for asset-based tokens.

[0018] Developers of this technology have understood that, typically, asset-backed tokens are created based on some claim rights to off-chain assets. Such asset-backed tokens trigger regulations that restrict their tradability and expose traditional tokens to the risk that malicious entities can freely create tokens.

[0019] Traditional proof-of-work-based blockchain systems are often used to verify the integrity of information by solving cryptographic puzzles to prevent double spending and verify transactions. As the size of the blockchain grows, more computing resources are required to solve cryptographic puzzles, which leads to increased electricity consumption. This increased consumption has a negative impact on the environment.

[0020] The two-layer blockchain system provided by one or more embodiments of the present technology is based on a proof-of-work (PoW) component and a proof-of-stake (PoS) component, which operate in conjunction with each other. The proof-of-work component is used to record asset production information and other value-generating activities, and provide a measure of the productivity of participating actors. The proof-of-stake component is used to generate first-layer tokens based on the output of the proof-of-work component, determine second-layer token rewards, stake second-layer tokens, and verify block transactions to reward second-layer tokens to active validators. The proof-of-stake component is capable of verifying the integrity of information, wherein a validator node can receive second-layer tokens in response to staking second-layer tokens, or can receive second-layer token allowances in response to bidding for first-layer tokens. Second-layer tokens constitute the protocol tokens of the two-layer blockchain and are linked to a certain number of first-layer tokens in the two-layer blockchain.

[0021] According to a broad aspect of the present technology, a method for sending second-layer tokens to a set of active validator nodes in a blockchain system is provided, the blockchain system comprising: a plurality of validator computer nodes connected via a communication network, the blockchain system maintaining a dual-layer blockchain ledger comprising: first-layer tokens, the first-layer tokens being tokens of a first type associated with the production of physical assets, and second-layer tokens, the second-layer tokens being tokens of a second type, the total amount of the second-layer tokens depending on the total amount of the first-layer tokens, the blockchain system being connected to a producer computer node, the method comprising: receiving asset production sensor data representing the production of a given physical asset from a producer computer node associated with an asset production entity, the asset production sensor data having been measured by a sensor of the asset production entity, generating a new certain number of first-layer tokens based on at least the asset production data, and sending the generated new certain number of first-layer tokens to the producer computer node, the current total amount of the first-layer tokens being based on the generated A new certain number of first-layer tokens and the total amount of first-layer tokens, generating a new certain number of second-layer tokens based on the current total amount of first-layer tokens, receiving at least one of a certain number of first-layer tokens bid accordingly and a certain number of second-layer tokens pledged accordingly from a validator computer node set from a plurality of validator computer nodes, selecting an active validator computer node set from the validator computer node set based on the certain number of first-layer tokens bid accordingly and at least one of a certain number of second-layer tokens pledged accordingly, and after consensus is reached by the active validator nodes, verifying the block to be processed to obtain a new block in the two-layer blockchain ledger, the new block at least including an indication of the generated certain number of first-layer tokens and an indication of the total amount of second-layer tokens, and sending a corresponding share portion of the generated new certain number of second-layer tokens to each of each active validator node set, the current total amount of second-layer tokens in the two-layer blockchain being based on the generated new certain number of second-layer tokens.

[0022] In one or more embodiments of the method, selecting an active set of validator computer nodes from a set of validator computer nodes based on at least one of a certain number of first-layer tokens bid for a corresponding amount and a certain number of second-layer tokens pledged for a corresponding amount includes: selecting a subset of the set of validator nodes as super validator nodes based on a certain number of first-layer tokens bid for a corresponding amount, the super validator nodes being a subset of the active validator nodes, and determining a corresponding share of a certain number of new second-layer tokens generated for the super validator nodes, the corresponding share of the super validator nodes being greater than a corresponding share of a certain number of second-layer tokens generated for the remaining active validator nodes.

[0023] In one or more embodiments of the method, the method further includes: burning a certain number of first-layer tokens of the corresponding bid, the burning causing a current total amount of the first-layer tokens based on the certain number of first-layer tokens of the corresponding bid to decrease.

[0024] In one or more embodiments of the method, the method further includes sending a corresponding number of staked second layer tokens back to the active validator node.

[0025] In one or more embodiments of the method, generating a new certain number of second-layer tokens includes: after reaching a consensus by the blockchain system, determining an asset production increase parameter, and determining the new certain number of second-layer tokens to be generated based on the asset production increase parameter and the total amount of first-layer tokens.

[0026] In one or more embodiments of the method, generating a new number of first-layer tokens to a producer computer node includes: receiving asset production data that has been generated based on asset production sensor data, receiving trusted production data from a trusted data source connected to the blockchain system, comparing the trusted production data with the trusted production data to obtain a comparison result, and determining a new number of first-layer tokens based on the comparison result.

[0027] In one or more embodiments of the method, the method further includes, before verification, after consensus is reached by the active validator nodes, the pending block includes at least an indication of a certain number of first-layer tokens generated to obtain a new block in the two-layer blockchain ledger: a pending block for the current period is generated by a given node of the validator node set based on asset production sensor data.

[0028] In one or more embodiments of the method, the method further includes determining a corresponding share of the newly generated number of second layer tokens to send to the given node.

[0029] In one or more embodiments of the method, the total amount of first layer tokens is the total amount of first layer tokens for a previous period.

[0030] In one or more embodiments of the method, the method further includes: receiving a request from a producer node to be added to the blockchain system as a new verifier node, and adding the producer node as a new verifier node to the blockchain system after consensus is reached by the verifier nodes.

[0031] In one or more embodiments of the method, the set of active validator computer nodes is an incorrect subset of the set of validator computer nodes.

[0032] In one or more embodiments of the method: each verifier computer node stores a corresponding wallet, which includes: a corresponding encryption key set, a corresponding certain number of second-layer tokens and a corresponding certain number of first-layer tokens, and the producer computer node stores a corresponding producer wallet, which includes a corresponding producer encryption key set, and the corresponding producer wallet is used to receive a certain number of generated new first-layer tokens.

[0033] In one or more embodiments of the method, the given real asset includes at least one of precious metals, energy commodities, agricultural products, and industrial metals.

[0034] According to a broad aspect of the present technology, a system is provided for sending a corresponding share of a new number of second-layer tokens to a set of active validator computer nodes in a dual-layer blockchain ledger, the dual-layer blockchain ledger comprising: first-layer tokens, the first-layer tokens being tokens of a first type associated with the production of physical assets, and second-layer tokens, the second-layer tokens being tokens of a second type, the total amount of the second-layer tokens being dependent on the total amount of the first-layer tokens.

[0035] The system includes: a plurality of validator computer nodes connected via a communication network, the system being configured to: receive asset production sensor data representing production of a given physical asset from a producer computer node connected to the system, the producer computer node being associated with an asset production entity, the asset production sensor data having been measured by a sensor of the asset production entity, generate a new number of first layer tokens based at least on the asset production data, send the generated new number of first layer tokens to the producer computer node, the current total amount of the first layer tokens being based on the generated new number of first layer tokens and the total amount of the first layer tokens, generate a new number of second layer tokens based on the current total amount of the first layer tokens, and receive a new number of second layer tokens from the validator computer nodes from the validator computer nodes; The computer node set receives at least one of a certain number of first-layer tokens bid for a corresponding bid and a certain number of second-layer tokens pledged for a corresponding bid, selects an active validator computer node set from the validator computer node set based on at least one of the certain number of first-layer tokens bid for a corresponding bid and a certain number of second-layer tokens pledged for a corresponding bid, verifies the pending block to obtain a new block in the two-layer blockchain ledger after consensus is reached by the active validator nodes, the new block at least includes an indication of the generated certain number of first-layer tokens and an indication of the total amount of second-layer tokens, and sends a corresponding share of the generated new certain number of second-layer tokens to each of the active validator node sets, and the current total amount of second-layer tokens in the two-layer blockchain is based on the generated new certain number of second-layer tokens.

[0036] In one or more embodiments of the system, selecting an active set of validator computer nodes from a set of validator computer nodes based on at least one of a certain number of first-layer tokens bid for and a certain number of second-layer tokens staked for a certain period of time includes: selecting a subset of the set of validator nodes as super validator nodes based on a certain number of first-layer tokens bid for a certain period of time, the super validator nodes being a subset of the active validator nodes, and determining a corresponding share of a new certain number of second-layer tokens generated for the super validator nodes, the corresponding share of the super validator nodes being greater than a corresponding share of a certain number of second-layer tokens generated for the remaining active validator nodes.

[0037] In one or more embodiments of the system, the system is further configured to: burn a certain number of first-layer tokens of the corresponding bid, the burning causing a current total amount of the first-layer tokens based on the certain number of first-layer tokens of the corresponding bid to decrease.

[0038] In one or more embodiments of the system, the system is further configured to: send a corresponding number of staked second layer tokens back to the active validator node.

[0039] In one or more embodiments of the system, generating a new certain number of second-layer tokens includes: after reaching a consensus by the blockchain system, determining an asset production increase parameter, and determining the new certain number of second-layer tokens to be generated based on the asset production increase parameter and the total amount of first-layer tokens.

[0040] In one or more embodiments of the system, generating a new number of first-layer tokens to a producer computer node includes: receiving asset production data that has been generated based on asset production sensor data, receiving trusted production data from a trusted data source connected to the blockchain system, comparing the trusted production data with the trusted production data to obtain a comparison result, and determining a new number of first-layer tokens based on the comparison result.

[0041] In one or more embodiments of the system, the system is further configured to, before verification, after consensus is reached by the active validator nodes, the pending block includes at least an indication of a certain number of first-layer tokens generated to obtain a new block in the two-layer blockchain ledger: a pending block for the current period is generated by a given node of the validator node set based on asset production sensor data.

[0042] In one or more embodiments of the system, the system is further configured to determine a corresponding share of the newly generated number of second layer tokens to send to the given node.

[0043] In one or more embodiments of the system, the total amount of first layer tokens is the total amount of first layer tokens for a previous period.

[0044] In one or more embodiments of the system, the system is further configured to: receive a request from a producer node to be added to the blockchain system as a new validator node, and add the producer node as a new validator node to the blockchain system after consensus is reached by the validator nodes.

[0045] In one or more embodiments of the system, the set of active validator computer nodes is an incorrect subset of the set of validator computer nodes.

[0046] In one or more embodiments of the system: each verifier computer node stores a corresponding wallet, which includes: a corresponding encryption key set, a corresponding number of second-layer tokens and a corresponding number of first-layer tokens, and the producer computer node stores a corresponding producer wallet, which includes a corresponding producer encryption key set, and the corresponding producer wallet is used to receive a generated new number of first-layer tokens.

[0047] In one or more embodiments of the system, the given physical asset includes at least one of precious metals, energy commodities, agricultural products, and industrial metals.

[0048] In one or more embodiments, the first layer token is also associated with digital asset production. The digital asset can be produced by an asset production entity and / or other entities, and the first layer token can be generated after the digital asset is verified.

[0049] In the context of this specification, a "server" or "node" is a computer program running on appropriate hardware and capable of receiving requests (e.g., from electronic devices) over a network (e.g., a communications network) and executing those requests, or causing those requests to be executed. The hardware can be a physical computer or a physical computer system, but neither is required in this case for the purposes of the present technology. In this context, the use of the expression "server" is not intended to mean that every task (e.g., received instructions or requests) or any particular task will be received, executed, or caused to be executed by the same server (i.e., the same software and / or hardware); the expression is intended to mean that any number of software elements or hardware devices may be involved in receiving / sending, executing, or being caused to execute any task or request, or the consequences of any task or request; and all of these software and hardware may be one server or multiple servers, both of which are included in the expressions "at least one server" and "server".

[0050] In the context of this specification, an "electronic device" is any computing device or computer hardware capable of running software applicable to the relevant task at hand. Thus, some (non-limiting) examples of electronic devices include general-purpose personal computers (desktops, laptops, netbooks, etc.), mobile computing devices, smartphones and tablets, and network devices such as routers, switches and gateways. It should be noted that in this context, it is not excluded that an electronic device is used as a server for other electronic devices. The use of the expression "electronic device" does not exclude the use of multiple electronic devices when receiving / sending, performing or being caused to perform any task or request, or the consequences of any task or request, or the steps of any method described herein. In the context of this specification, a "client device" refers to any of a series of end-user client electronic devices associated with a user, such as a personal computer, a tablet, a smartphone, etc.

[0051] In the context of this specification, the expression "computer-readable storage medium" (also referred to as "storage medium" and "memory") is intended to include non-transitory media of any nature and kind, including but not limited to RAM, ROM, magnetic disks (CD-ROM, DVD, floppy disks, hard disk drives, etc.), USB keys, solid-state drives, tape drives, etc. Multiple components may be combined to form a computer information storage medium, including two or more media components of the same type and / or two or more media components of different types.

[0052] In the context of this specification, a "database" is any structured collection of data, regardless of the specific structure of the database, the database management software, or the computer hardware that stores, implements, or otherwise provides the data for use. The database may reside on the same hardware as the processes that store or use the information stored in the database, or it may reside on separate hardware (such as a dedicated server or multiple servers).

[0053] In the context of this specification, the expression "information" includes any nature or kind of information that can be stored in a database. Therefore, information includes, but is not limited to, audiovisual works (images, films, recordings, presentations, etc.), data (location data, numerical data, etc.), texts (opinions, comments, questions, messages, etc.), documents, spreadsheets, word lists, etc.

[0054] In the context of this specification, unless expressly specified otherwise, an "indication" of an information element may be the information element itself, or a suggestion, reference, link, or other indirect mechanism that enables a recipient of the indication to locate a location on a network, memory, database, or other computer-readable medium from which the information element may be retrieved. For example, an indication of a document may include the document itself (i.e., the contents of the document), or it may be a unique document descriptor that identifies the file with respect to a particular file system, or some other means of directing the recipient of the indication to a network location, memory address, database table, or other location where the file may be accessed. As one skilled in the art will recognize, the degree of precision required in such an indication depends on the degree of any prior understanding between the sender and recipient of the indication as to the interpretation given to the information exchanged. For example, if it is understood prior to communication between the sender and recipient that an indication of an information element will take the form of a database key for an entity in a particular table of a predetermined database containing the information element, then the transmission of the database key is all that is required to effectively communicate the information element to the recipient, even if the information element itself is not transmitted between the sender and recipient of the indication.

[0055] In the context of this specification, the expression "communication network" is intended to include telecommunication networks such as computer networks, the Internet, telephone networks, Telex networks, TCP / IP data networks (e.g., WAN networks, LAN networks, etc.), etc. The term "communication network" includes a wired network or direct wired connection, as well as wireless media such as acoustic, radio frequency (RF), infrared and other wireless media, and combinations of any of the above.

[0056] In the context of this specification, the words "first", "second", "third", etc. are used as adjectives only to allow the nouns they modify to be distinguished from each other, rather than to describe any specific relationship between these nouns. Thus, for example, it should be understood that the use of "first server" and "third server" is not intended to imply any specific order, type, chronological order, hierarchy or ranking (for example) of / between servers, nor is their use (per se) intended to imply that any "second server" must necessarily exist in any given case. In addition, as discussed in other contexts herein, reference to a "first" element and a "second" element does not exclude that the two elements are the same actual real-world elements. Thus, for example, in some cases, the "first" server and the "second" server can be the same software and / or hardware, and in other cases, they can be different software and / or hardware.

[0057] The embodiments of the present technology each have at least one of the above-mentioned objects and / or aspects, but not necessarily all of these objects and / or aspects. It should be understood that some aspects of the present technology generated by attempting to achieve the above-mentioned goals may not meet the goals and / or may meet other goals not specifically listed herein.

[0058] Additional and / or alternative features, aspects, and advantages of embodiments of the present technology will become apparent from the following description, drawings, and appended claims. BRIEF DESCRIPTION OF THE DRAWINGS

[0059] Additional features and advantages of the present technology will become apparent from the following detailed description taken in conjunction with the accompanying drawings, in which:

[0060] Figure 1 A flow chart illustrating a general method for awarding second-tier token rewards to active validators in accordance with one or more non-limiting embodiments of the present technology.

[0061] Figure 2 A non-limiting example of a graph showing how second layer token rewards vary depending on the level of first layer tokens produced in previous periods is shown.

[0062] Figure 3 A first active validator node selection procedure in accordance with one or more non-limiting embodiments of the present technology is shown.

[0063] Figure 4 A second active validator node selection procedure is shown in accordance with one or more non-limiting embodiments of the present technology.

[0064] Figure 5 A third active validator node selection procedure is shown in accordance with one or more non-limiting embodiments of the present technology.

[0065] Figure 6 A flow chart illustrating a method for first layer token production in accordance with one or more non-limiting embodiments of the present technology is shown.

[0066] Figure 7 A flow chart of a method for sending a share of a newly generated number of second-layer tokens to an active validator node in accordance with one or more non-limiting embodiments of the present technology is shown.

[0067] Figure 8 A schematic diagram of an environment and a two-tier blockchain system is shown according to one or more non-limiting embodiments of the present technology.

[0068] Fig. 9 A schematic diagram of an electronic device is shown in accordance with one or more non-limiting embodiments of the present technology. DETAILED DESCRIPTION

[0069] It should be understood that for simplicity and clarity of illustration, reference numerals may be repeated in the accompanying drawings to indicate corresponding or similar elements where deemed appropriate. In addition, many specific details are set forth to provide a thorough understanding of the embodiments and / or implementations described herein. However, it will be appreciated by those of ordinary skill in the art that the embodiments and / or implementations described herein may be practiced without these specific details. In other cases, well-known methods, procedures, and components are not described so as not to obscure the embodiments and / or implementations described herein. In addition, this description should not be considered to limit the scope of the embodiments described herein, but rather to describe the structure and operation of the various embodiments and / or implementations described herein.

[0070] It should be noted that the methods and systems of the embodiments of the present disclosure and the above-mentioned data are not abstract or intangible in any sense. Instead, it is necessary for the data to be presented in digital form and stored in a physical data storage computer-readable medium, such as an electronic memory, a mass storage device, or other physical, tangible data storage devices and media. It should also be noted that the data processing and data storage methods currently described cannot be performed manually by human analysts, because even the processing and analysis of relatively small amounts of data will generate complex and large amounts of intermediate results. Instead, the methods described herein are necessary to be performed by an electronic computing system with an electronic or magnetic storage data processor, and the results of data processing and data analysis are digitally stored in one or more tangible physical data storage devices and media. The methods and systems of the present disclosure have tangible and practical advantages, providing more convenient and more reliable processing of large amounts of data. More specifically, one or more embodiments of the present technology provide an incentive-based system for asset production entities to participate in a blockchain system, while also retaining the anonymity of these asset production entities, and providing the verifiability of the assets produced via a distributed ledger through a decentralized network of computer nodes. This eliminates the need for a central authority and reduces the risk of single point failures and potential data attacks. In addition, the present method and system provides an immutable record of asset productivity, ownership, and transaction history, where each transaction is recorded in a block that is cryptographically linked to the previous block to form a tamper-proof chain. This creates a permanent and traceable record of asset productivity and ownership without compromising the anonymity of the user.

[0071] Computer nodes participating in a distributed ledger are incentivized to produce physical goods, as opposed to “classical” blockchain or ledger-based systems where there is no incentive and connection to real-world produced assets.

[0072] Embodiments of the present technology aim to reduce the blockchain system's reliance on graphics processing unit (GPU) or application-specific integrated circuit (ASIC) computing equipment that uses large amounts of power, as the present technology is able to generate protocol tokens based on physically produced assets.

[0073] The present technology is adapted and configured to utilize a two-tier token system in the consensus process. The present technology uses a first type of token ("first tier token") that is directly linked to a physically produced asset (and optionally a digitally produced asset) submitted to the blockchain system, and a second type of token ("second tier token") that is used as a protocol token for executing transactions.

[0074] The node verifies the transaction to obtain a new second-layer token reward (i.e., a corresponding number of second-layer tokens). The new second-layer token reward corresponds to the newly generated second-layer tokens, which are added to the current total amount of second-layer tokens in the blockchain ledger. The second-layer token reward is determined based on the total amount of first-layer tokens, which are based on a certain amount of physically produced assets (and optionally digitally produced assets) that have been generated.

[0075] Since first-layer tokens are linked to produced assets and / or are awarded based on produced assets, embodiments of the present technology incentivize the production of assets with tangible utility and intrinsic value. Asset producing entities (i.e., off-chain entities) that do not have second-layer tokens and are previously approved by participating nodes (i.e., on-chain entities or validator nodes) in a two-layer blockchain system can be awarded first-layer tokens after reaching consensus. Second-layer tokens are awarded to a subset of validator nodes based on a certain number of first-layer tokens that have been generated based on produced assets.

[0076] The two-layer token system allows off-chain assets to drive the creation of second-layer tokens as protocol tokens, allowing the core consensus process to be conducted in a way that is isolated from bad actors and additional regulation. Off-chain assets include physical assets produced by asset-producing entities.

[0077] The two-tier token system allows entities associated with off-chain assets to be granted first-tier tokens equal to a certain amount of associated production assets. The first-tier tokens constitute a fungible digital record of the asset. In alternative embodiments, other types of tokens such as NFT tokens may also be used as first-tier tokens.

[0078] Environment and blockchain system

[0079] refer to Figure 8 , showing an environment and blockchain system 800 according to one or more non-limiting embodiments of the present technology.

[0080] The environment and blockchain system 800 includes, among other things, an asset production entity 802 associated with a producer node 806 , a third-party data source 810 , a trusted data source 812 , and a plurality of computer nodes 822 , 824 , 826 , 828 .

[0081] The producer computer node 806, the third party data source 810, the trusted data source 812, and the plurality of computer nodes 822, 824, 826, 828 are connected through a communication network 850 via respective communication links 855 (only one reference).

[0082] It should be noted that Figure 8Only one asset production entity 802, one producer computer node 806, one third-party data source 810, and one trusted data source 812 are depicted, but the singular or plural may be used interchangeably, and the environment and blockchain system 800 may include multiple asset production entities 802, producer computer nodes 806, third-party databases 810, and trusted data sources 812.

[0083] A plurality of computer nodes 822, 824, 826, 828 form a two-layer blockchain system 820. For a given period of time, the producer node 806 may not be part of the two-layer blockchain system 820, however the producer node 806 may become a node in the two-layer blockchain system 820 at a later period of time.

[0084] Two-layer blockchain system

[0085] The two-tier blockchain system 820 includes a plurality of computer nodes 822, 824, 826, 828. For a given period of time, the plurality of computer nodes 822, 824, 826, 828 may include a validator node and an active validator node (not numbered).

[0086] The two-layer blockchain system 820 maintains a two-layer blockchain ledger 880 including a plurality of blocks.

[0087] As will be explained below, the dual-layer blockchain ledger 880 includes a first-layer token and a second-layer token. The second-layer token is a protocol token of the dual-layer blockchain ledger 880, that is, the main token of the dual-layer blockchain ledger 880.

[0088] The validator node is responsible for submitting (i.e., proposing) new blocks to the dual-layer blockchain ledger 880 by voting. The validator node can also perform transactions of second-layer tokens with other validator nodes. The validator node is a computer node with second-layer tokens and optionally first-layer tokens.

[0089] As will be explained below, the active validator nodes are a subset of the validator nodes that are selected among the validator nodes for the current period. In one or more embodiments, the active validator nodes may be all validator nodes (i.e., an incorrect subset of the validator nodes). In one or more embodiments, the active validator nodes may be selected among the validator nodes (i.e., a correct subset of the validator nodes).

[0090] As will be explained below, in one or more embodiments, the validator nodes may include a subset of super validator nodes, which are validator nodes that have bidding first-layer tokens that increase their likelihood of being selected as active validator nodes.

[0091] The producer node 806 may become a validator node in a subsequent period.

[0092] It should be understood that the roles and number of nodes in the two-tier blockchain system 820 may change over time, and the following is provided only as a non-limiting example.

[0093] Computer Node

[0094] Multiple computer nodes 822 , 824 , 826 , 828 work together to maintain a tamper-proof and secure digital ledger in the form of a dual-layer blockchain ledger 880 .

[0095] In the context of the present technology, each computer node 822, 824, 826, 828 of the plurality of computer nodes 822, 824, 826, 828 may be implemented as a different type of computing device. Fig. 9 Non-limiting examples of computing devices are shown in FIG. 1 and described below.

[0096] Each computer node 822, 824, 826, 828 may be associated with a corresponding entity and / or user (not shown).

[0097] Each computer node 822, 824, 826, 828 is associated with a respective digital wallet 830, which will be referred to as the respective wallet 830 (only one wallet is depicted for computer nodes 822, 824, 826, 828).

[0098] The corresponding wallet 830 typically includes a public and private key pair (not numbered). The public key is used to receive funds from other users, while the private key is used to sign and authorize transactions from the wallet. The private key is kept secure and only known to the owner of the wallet, while the public key can be shared publicly to receive funds.

[0099] In one or more embodiments, the corresponding wallet 830 may also include a signature function, which requires multiple signatures from different parties to authorize a transaction. The corresponding wallet may have built-in smart contract functionality, which enables the creation and execution of complex programmable transactions.

[0100] A smart contract is a self-executing computer program that runs on the blockchain system 820 and automatically executes the terms of the contract between the parties without the need for an intermediary. It is encoded as an instruction set that is stored on a storage medium of a component of the blockchain system 820 and executed by the corresponding processor of the computer node 822, 824, 826, 828.

[0101] For a given computer node 822, 824, 826, 828, the corresponding wallet 830 may include a corresponding number of first layer tokens and a corresponding number of second layer tokens.

[0102] In one or more embodiments, each computer node 822 , 824 , 826 , 828 has a corresponding number of second layer tokens in its corresponding wallet 830 .

[0103] In one or more other embodiments, in order to possess the second layer tokens, the computer nodes 822, 824, 826, 828 have a corresponding number of first layer tokens in their respective wallets 830. As will be explained below, the first layer tokens are linked to the physical assets produced in the environment and blockchain system 800.

[0104] Asset producing entity

[0105] The asset production entities 802 (only one is shown) include physical asset production entities and optionally digital asset production entities (not individually numbered). Each asset production entity 802 is associated with a corresponding producer computer node 806.

[0106] A given asset production entity 802 produces one or more correspondingly produced assets. Each correspondingly produced asset is associated with corresponding asset information. In one or more embodiments, the corresponding asset information for a given asset production entity 802 includes type, quantity, location, quality, condition, ownership, and production capacity.

[0107] Non-limiting examples of physical assets produced by asset producing entity 802 may include precious metals (e.g., gold, silver, platinum, and palladium), energy commodities (e.g., crude oil, natural gas, and coal), agricultural products (e.g., wheat, corn, soybeans, and cotton), and industrial metals (e.g., copper, aluminum, zinc, and nickel).

[0108] In one or more embodiments, each asset production entity 802 may have been pre-registered and approved by the two-tier blockchain system 820. In one or more embodiments, the asset production entity 802 that produces the physical asset has undergone Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. The physical asset license is checked. It should be understood that registration and approval may be optional.

[0109] Each asset production entity 802 has a sensor 804 that is configured to measure, determine, store, and send asset production data to a corresponding producer node 806. It should be understood that the sensor 804 is hardware and may include computing and software components.

[0110] As non-limiting examples, sensors 804 may measure data before, during, and after the production of a physical asset, such as weight, volume, and any other type of physical parameter (e.g., temperature, pH, conductivity, pressure, etc.) for raw or unprocessed materials, intermediates and processes, and final products.

[0111] In some embodiments of the present technology, a given asset production entity 802 may also produce digital assets, such as cryptocurrencies, digital tokens, digital securities, digital art, and digital music.

[0112] Producer Node

[0113] Each producer computer node 806 (also referred to as producer node 806) is associated with an asset production entity 802, which is connected to a sensor 804 to receive asset production information and execute a data management system (not shown) that is compatible with the two-layer blockchain system 820 and has been previously approved by the two-layer blockchain system 820.

[0114] Each producer node 806 is configured, among other things, to: (i) receive asset production sensor data; (ii) send asset production sensor data to be added to a pending block; and (ii) receive a first-tier block reward upon block validation.

[0115] Each producer node 806 has a corresponding wallet 808 that stores one or more corresponding cryptographic keys, similar to the corresponding wallets 830 of the multiple computer nodes 822, 824, 826, 828.

[0116] Each producer node 806 has a corresponding number of first layer tokens associated with the dual-layer blockchain ledger 880. Producer nodes 806 typically do not possess second layer tokens.

[0117] In order to obtain the second layer token, the producer node 806 must operate as a verifier node in the blockchain system 820. To operate as a verifier node, the producer node 806 must execute the required software and have computing resources (i.e., processing and / or memory) above the required threshold for a verifier node. The blockchain system 820 can add the producer node 806 as a verifier node after reaching consensus. The threshold computing resources can be dynamically determined based on the available computing resources in the blockchain system 820 and the estimated computing resource requirements of the blockchain system 820.

[0118] Third-party data sources

[0119] Third-party data source 810 is configured, among other things, to: (i) receive a request for information; and (ii) send information in response to the request. In one or more embodiments, trusted data source 812 may send asset information in a synchronous or asynchronous manner.

[0120] Thus, a given third party data source 810 may be implemented as a computing device, a database, a non-transitory storage medium, or the like.

[0121] In one or more embodiments, third-party data sources 810 may transmit external information related to physical assets and digital assets.

[0122] Non-limiting examples of third-party data sources 810 include websites, blogs, and devices associated with entities such as companies and users.

[0123] Trusted data source

[0124] The trusted data source 812 has been previously approved by the two-layer blockchain system 820. In one or more embodiments, the trusted data source 812 may be a former third-party data source that has been voted and approved by the two-layer blockchain system 820.

[0125] Trusted data source 812 is configured, among other things, to: (i) receive a request for asset information; and (ii) send the asset information in response to the request. In one or more embodiments, trusted data source 812 may send the asset information in a synchronous or asynchronous manner.

[0126] Thus, a given trusted data source 812 may be implemented as a computing device, a database, a non-transitory storage medium, etc. Non-limiting examples of trusted data sources 812 include public stock exchanges, regulated financial institutions, government regulators, market data providers, and other blockchain data providers.

[0127] In one or more embodiments, the environment and blockchain system 800 includes a feedback device 814, which can be implemented as hardware and software (or a combination of hardware and software) and can be connected to the two-layer blockchain system 820. The feedback device 814 is configured to retrieve data from the third-party data source 810 and / or the trusted data source 812 and send the data to the two-layer blockchain system 820.

[0128] Communication Network

[0129] In some embodiments of the present technology, the communication network 850 is the Internet. In alternative non-limiting embodiments, the communication network 850 can be implemented as any suitable local area network (LAN), wide area network (WAN), dedicated communication network, etc. It should be clearly understood that the implementation of the communication network 850 is for illustrative purposes only. How to implement the communication link 855 (not individually numbered) between the sensor 804, the producer node 806, the third-party data source 810, the trusted data source 812 and the plurality of computer nodes 822, 824, 826, 828 and the communication network 850 will depend in particular on how each of the producer node 806, the third-party data source 810, the trusted data source 812 and the plurality of computing nodes 822, 824, 826, 828 is implemented.

[0130] The communication network 850 may be used to transmit data packets among the sensor 804 , the producer node 806 , the third party data source 810 , the trusted data source 812 , and the plurality of computer nodes 822 , 824 , 826 , 828 .

[0131] Figure 1 The general operation of an asset-based token for a consensus process according to an embodiment is shown. Figure 1 Can be Figure 8 environment and executed within the two-layer blockchain system 800.

[0132] At step 101, a certain amount of produced assets is recorded. Produced assets can be physical assets or commodities such as gold or oil produced by asset producers (i.e., asset production entities 802); digital assets such as Bitcoin, Ethereum or other cryptocurrencies; or any other resources produced or owned by off-chain users. In some embodiments, assets owned by an entity but not produced by the entity can be recorded, for example, if the assets are produced by a subsidiary or related party of the entity, or if they are acquired by some other means. Depending on the type of asset, the quality of the asset may also be recorded. For example, different types of oil may have different market values.

[0133] In one or more embodiments, a quantity of an asset is produced by an asset production entity 802 and measured by a sensor 804 connected to a producer node 806, which can send asset production sensor data to the producer node 806 ( Figure 8 ).

[0134] At step 103, the market value of the physical asset is estimated. In one embodiment, the unit market price of the off-chain asset is recorded by a price feed from a financial data service provider, and the market value of the physical asset is estimated based on the unit price and quantity of the asset produced.

[0135] In one or more embodiments, price feedback may come from third party data source 810 and / or trusted data source 812. Information related to the unit value of the produced asset may be determined by feedback generator 814 based on information from third party data source 810 and / or trusted data source 812.

[0136] Embodiments of the present disclosure provide a two-layer blockchain system 820 to produce first-layer tokens based on the market value of recorded physical assets. In such embodiments, the blockchain system 820 uses the first-layer tokens as a record of physical asset production activities. In addition, the first-layer tokens can also record digital assets produced by the asset production entity 802.

[0137] At step 105, the first layer token is minted based on the estimated value of the recorded physical asset. Minting is the process of generating a new first layer token by verifying the data and recording the information onto the blockchain ledger 880 through a proof-of-stake protocol.

[0138] At step 107, first layer tokens are granted to asset producers in proportion to the assets they produce. More specifically, based at least on the asset sensor data produced from the sensor 804 connected to the asset producing entity 802, a corresponding number of first layer tokens are granted to the corresponding wallet 808 of the producer node 806.

[0139] In operation, the two-layer blockchain system 820 can form a new block at regular intervals (e.g., every 1 second). If the block contains transactions and is therefore a non-empty block, the second-layer token reward is distributed to all active validators who validate the block. The selection and role of active validators will be described below.

[0140] Step 105 and step 107 will be Figure 6 The first layer token creation process 600 is described in more detail.

[0141] Determination of a second layer token block reward is performed at step 109. More specifically, a certain number of second layer tokens to be allocated to active validator nodes participating in validating pending blocks is determined. According to one or more embodiments, the second layer block reward may be set to an initial value, and a new value may be determined after each period. In each period, the blockchain system 820 will reduce the block reward, which is scaled by the corresponding certain number of first layer tokens that have been generated for the previous period. The period may be set to 30 million blocks, which is approximately one year. Alternatively, a different period duration may be set.

[0142] Hereinafter, an example procedure for determining the second-layer block reward (i.e., a corresponding number of second-layer tokens newly generated by the blockchain system 820) to be sent to an active validator node will be described.

[0143] The second layer token block reward for the current period is determined based on the second layer token block reward for the previous period, the first layer token reward for the previous period, the first layer token reward before the previous period, and the asset production increase parameter.

[0144] The initial block reward may be set to n0 = 5 second layer tokens per block.

[0145] Period 1 block reward n1 and period 2 block reward n2 are set equal to n0.

[0146] The reward for period x is then called n(x):

[0147] n(x)=n(x-1)×f(δ);

[0148] Where n(x) is the current second layer token block reward (i.e., a newly generated number of second layer tokens to be added to the previous total amount of second layer tokens in the blockchain ledger 880);

[0149] Where n(x-1) is the second layer token block reward for the previous period;

[0150] Where δ = ((first layer tokens from period x-1) / (first layer tokens from period x-2)) / ((1+target));

[0151] Target is an asset production increase parameter corresponding to a target percentage increase in layer 1 token production, set via votes from validator nodes; by default, target = 10%.

[0152] f(δ) has two states: normal and abnormal.

[0153] Normal state:

[0154] When 0<δ<1, f(δ)=0.75+[0.9-0.75]×δ;

[0155] Essentially, f(δ) will fluctuate between [0.75-0.9]; therefore, the second-layer block reward will be reduced by a factor of [0.75-0.9].

[0156] Abnormal status:

[0157] When δ=0, f(δ)=0.5;

[0158] Among them, if the first-layer tokens are not produced, the second-layer token block rewards will be halved;

[0159] When δ≥1, f(δ)=min(0.99, 0.01×Math.floor(δ-1)+0.9);

[0160] f(δ) will fluctuate between [0.9-0.99];

[0161] If the first layer token production is above target, the block reward will only be reduced by [0.9-0.99], and even if production is well above target, the block reward will be capped at 0.99.

[0162] It should be understood that this determination is only an example, and any suitable definition of n(x) may be used instead. Specifically, the initial value n0 and the reduction amount f(δ) may be any suitable number or function.

[0163] Figure 2 A non-limiting example of a graph 200 showing how a second layer block reward n(x) per block may vary based on a certain number of first layer tokens produced in a previous period is shown. Graph 200 includes three block reward functions: a first block reward function 210, a second block reward function 220, and a third block reward function 230.

[0164] According to the non-limiting example shown, the block reward is initially set to 5 second layer tokens per block, and the second layer block reward automatically decreases per period based on the number of first layer tokens produced, where one period corresponds to one year. It can be seen that the first block reward function 210 corresponds to "good" first layer token production, the second block reward function 220 corresponds to "low" first layer token production, and the third block reward function 230 corresponds to no first layer token production, and if fewer first layer tokens are produced, the second layer token reward per block decreases with each period. In the example shown, more first layer tokens are produced, resulting in a slower rate at which the second layer block reward decreases over time. Therefore, higher asset production generates more first layer tokens, which will allow a higher total amount of second layer tokens to be produced, while less asset production will allow a lower total amount of second layer tokens to be produced.

[0165] The second layer block rewards are periodically reduced according to a range, for example, 10% to 50%. The second layer block rewards create a supply cap for the second layer tokens, which have a finite total number that is determined based on economic production.

[0166] Back to Figure 1 In step 111, an active validator is selected from all validator nodes that bid to obtain the active validator status. The selection of the active validator will refer to Figure 3 , Figure 4 and Figure 5In an alternative embodiment, no election may be performed, and each node in the two-tier blockchain system 820 may participate as an active validator node.

[0167] At step 113, the second layer block rewards are awarded to the selected active validators via a bidding and staking process. Entities operating validator nodes can bid and / or stake as active validator nodes to participate in the bidding and staking process. All entities can "follow" active validator nodes and share in the rewards by staking second layer tokens to any node. Staking allows for permissionless participation in the protocol consensus. Any validator node can stake second layer tokens to any node to share in the second layer block rewards.

[0168] Staking refers to the process of depositing a certain amount of second-layer tokens as collateral to become eligible as an active validator node to verify transactions and create new blocks on the blockchain ledger 880. The pledged second-layer tokens can be returned to the active validator node. It should be understood that staking involves the use of cryptographic algorithms and consensus mechanisms to ensure that the blockchain system 820 is secure and operates in a fair and transparent manner. Staking involves the use of cryptographic protocols known in the art and requires sufficient computing resources to execute effectively.

[0169] Bidding refers to the process of spending a certain amount of first-layer tokens as collateral to become eligible as an active validator node to verify transactions and create new blocks on the blockchain ledger 880. The bid first-layer tokens are not returned to the active validator node, but are removed from the blockchain ledger 880, a process known as "burning". Burning reduces the total amount of first-layer tokens in the blockchain ledger 880. Bidding involves the use of complex algorithms and cryptographic protocols known in the art to ensure that transactions are secure and transparent.

[0170] In one or more embodiments, the pledge procedure may be performed as follows:

[0171] Select a validator node and stake the second-layer tokens to that validator node. After staking, the staker node must manually unstake the tokens. Any staked second-layer tokens will continue to accumulate second-layer rewards until they are unstaked.

[0172] In one or more embodiments, the second layer block reward allocation function is determined using the following scheme:

[0173] Total block reward S = block reward n(x) + total gas fee gas

[0174] S is divided into the following parts:

[0175] C: Public token pool, used through voting by validator nodes, 1% × S in one example.

[0176] A and B: 2 parts of the proposer stipend, rewarded to the proposer of a new block. The proposer is the validator node that proposes a pending block, which will become a new block after verification. In one example: A = 1% × S; and B = up to 4% × S, depending on the proportion of digital signatures obtained from all active validators.

[0177] T: The first-tier validator allowance is awarded to the super validators in the list of active validator nodes. T is divided among the super active validator nodes based on the proportion of the first-tier token bids, so that the more the first-tier token bids, the more rewards are given. In one example, T = 15% × (number of super active validators) / (number of active validators) × S

[0178] R: Base reward, awarded to each active validator and its stakers. R = SCABT is the remainder of S.

[0179] R is split among all active validator nodes. This split helps prevent cartel events. Each active validator node also splits R equally among all stakers after withholding a small predetermined fee, which may be 1% for the node owner as a non-limiting example. In one or more alternative embodiments, the split may be an even split.

[0180] Figure 3 , Figure 4 and Figure 5 Various embodiments of an active validator node selection procedure are provided.

[0181] First Active Validator Node Selection Process

[0182] Figure 3 A first active validator node selection procedure 300 is shown in accordance with one or more embodiments of the present technology.

[0183] The purpose of the first active validator node selection procedure 300 is to allow the two-layer blockchain system 820 to select an active validator node to participate in the proof-of-stake consensus process. The first active validator selection procedure 300 is performed by the two-layer blockchain system 820.

[0184] In the first active validator node selection procedure 300, the validator node can bid for the first layer tokens or stake the second layer tokens to be selected as the active validator. The active validator can receive the second layer token reward after reaching consensus.

[0185] In some embodiments, a producer node may be associated with other staker nodes to form a validator node. Alternatively, a producer node may have its own set of stakers and may in fact become a validator node.

[0186] The first active validator selection procedure 300 is executed at a given frequency within the two-tier blockchain system 820. The frequency may be predetermined based on the duration and / or the number of blocks, or may be dynamically determined based on the duration and / or the number of blocks. As a non-limiting example, the active validator node selection procedure 300 may be executed once every five minutes.

[0187] According to step 310, a second layer token verification is performed, wherein the verifier node needs to have a second layer token to become part of the candidate active verifier node set to obtain the active verifier node status, i.e., continue at step 320A or step 320B.

[0188] In some embodiments, a validator node wishing to become part of a set of candidate active validator nodes to become an active validator may be required to have minimal computing resources.

[0189] In one embodiment, a validator node can purchase second-layer tokens from an exchange platform. Alternatively, a validator node can purchase second-layer tokens directly from other validator nodes using a peer-to-peer (P2P) protocol. A validator node with a second-layer token can then bid for the first-layer token or stake the second-layer token to obtain the status of an active validator node.

[0190] According to step 320, a given validator node may bid for first-layer tokens (step 320A) or pledge second-layer tokens (step 320B). It should be understood that a given validator node bidding for first-layer tokens must have second-layer tokens in the given validator node's corresponding wallet, but does not need to pledge the given validator node's second-layer tokens.

[0191] In one or more embodiments, each corresponding validator node that wishes to participate in the bidding and staking process sends an indication of the bidding or staking of these validator nodes to the two-layer blockchain system 820. Upon receiving the indication, the two-layer blockchain system 820 verifies whether the corresponding validator node: (i) has pledged a corresponding number of second-layer tokens that is equal to or higher than the second-layer token staking threshold; or (ii) has bid a corresponding number of first-layer tokens that is equal to or higher than the first-layer token bidding threshold.

[0192] According to step 330B, if the corresponding staked amount of the second layer token is higher than the corresponding second layer stake threshold, the corresponding validator node is added to the set of candidate active validator nodes.

[0193] If the corresponding amount of second-layer tokens is below the second-layer bidding threshold, the corresponding validator node is not added to the set of candidate active validator nodes.

[0194] According to step 330A, if the corresponding number of first-tier tokens is equal to or higher than the first-tier bidding threshold, the corresponding validator node is added to the set of candidate active validator nodes and is designated as a super validator node.

[0195] As a non-limiting example, a first tier threshold (ie, minimum) for first tier token bidding may be 1 first tier token, and a second tier threshold for second tier token staking may be 158 second tier tokens.

[0196] According to step 332, active validator node selection is performed. In one or more embodiments, the validator node performs multiple rounds of selection to form an active validator node set from the set of candidate active validator nodes. In one or more embodiments, the number of rounds of selection may be predetermined by the blockchain system 820. As a non-limiting example, there may be two rounds of random selection.

[0197] In one non-limiting example, a first round of random selection may be performed to select up to 100 super validator nodes and 100 validator nodes from all validator nodes in the candidate active validator node set. A second round of random selection may then be performed to select up to 100 active validators from the nodes selected in round 1. It should be understood that any other suitable number of nodes may be selected in each round. It should be understood that a super validator node has a higher chance of being selected as an active validator node than the remaining nodes in the candidate active validator node set.

[0198] In one or more embodiments, validator nodes may have an equal chance of being selected as an active validator. Alternatively, other selection mechanisms may be used.

[0199] According to step 340, the first layer tokens used by the active validator node in a successful bid are burned. The second layer tokens used in a successful pledge are returned to the active validator node. The first layer tokens and second layer tokens used in unsuccessful bids (i.e., from validator nodes that were not selected as active validator nodes) are returned to the validator node. As previously described, burning is the process by which first layer tokens are removed from circulation, which reduces the number of first layer tokens in use. The first layer tokens are sent from the corresponding wallets of the active validator node selected as the super validator node (i.e., with the bidding first layer tokens) to a wallet address that cannot be used for transactions except for receiving first layer tokens. Therefore, the total amount of first layer tokens in the blockchain ledger 880 is reduced.

[0200] Second Active Validator Node Selection Process

[0201] Figure 4 A second active validator node selection procedure 400 is shown in accordance with one or more embodiments of the present technology.

[0202] The second active validator node selection procedure 400 is similar to the first active validator node selection procedure 300, however validator nodes wishing to participate as active validators can only bid for a corresponding number of first-layer tokens that will be burned.

[0203] The purpose of the second active validator node selection procedure 400 is to allow the two-tier blockchain system 820 to select active validator nodes to participate in the proof-of-stake consensus process.

[0204] In the second active validator node selection procedure 400, a validator node must stake second-layer tokens and may optionally bid for first-layer tokens to be selected as an active validator.

[0205] According to step 410, a second layer token verification is performed, wherein the verifier node needs to have a second layer token to become part of the candidate active verifier node set to obtain the active verifier node status, i.e., continue at step 420A and step 420B.

[0206] After the second layer token validation of step 410, all validator nodes perform step 420A. The validator nodes may optionally perform step 420B.

[0207] According to step 420, the given validator node stakes the second layer token (step 420A). The given validator node may optionally bid for the first layer token (step 420B). Indications of each stake and bid are sent to the blockchain system 820.

[0208] According to step 430A, if the corresponding number of second layer tokens is above the corresponding second layer token staking threshold, the corresponding validator node is added to the set of candidate active validator nodes.

[0209] If the corresponding amount of second-layer tokens is below the second-layer bidding threshold, the corresponding validator node is not added to the set of candidate active validator nodes.

[0210] According to 430B, if the corresponding number of second-tier tokens is higher than or equal to the corresponding second-tier token threshold, and if the corresponding number of first-tier tokens is equal to or higher than the first-tier token threshold, the corresponding validator node is added to the set of candidate active validator nodes and is designated as a super validator node.

[0211] As a non-limiting example, the first layer token threshold (ie, minimum) for first layer token bidding may be 1 first layer token, and the second layer token threshold for second layer token staking may be 158 second layer tokens.

[0212] According to step 432, active validator node selection is performed. In one or more embodiments, the validator node performs multiple rounds of selection to form an active validator node set from the set of candidate active validator nodes. In one or more embodiments, the number of rounds of selection may be predetermined by the blockchain system 820. As a non-limiting example, there may be two rounds of random selection.

[0213] In one non-limiting example, a first round of random selection may be performed to select up to 100 super validator nodes and 100 validator nodes from all validator nodes in the candidate active validator node set. A second round of random selection may then be performed to select up to 100 active validators from the nodes selected in round 1. It should be understood that any other suitable number of nodes may be selected in each round.

[0214] In one or more embodiments, validator nodes may have an equal chance of being selected as an active validator. Alternatively, other selection mechanisms may be used.

[0215] According to step 440, the first-tier tokens used by the active validator node (i.e., the super validator node) in successful bidding are burned. The second-tier tokens used in successful staking are returned to the active validator node. The first-tier tokens used in unsuccessful bidding and the second-tier tokens (i.e., from the candidate validator nodes that were not selected as the active validator node) are returned to the validator node.

[0216] Third Active Validator Node Selection Process

[0217] Figure 5 A third active validator node selection procedure 500 is shown in accordance with one or more embodiments of the present technology.

[0218] The third active validator node selection procedure 500 is similar to the first active validator node selection procedure 300 and the second active validator node selection procedure 400, however the validator nodes only bid for a corresponding number of first layer tokens to be burned.

[0219] According to step 510, a second-layer token verification is performed, wherein the verifier node needs to have a second-layer token to become part of the candidate active verifier node set to obtain the active verifier node status, i.e., proceed to step 520. In one or more embodiments, the two-layer token verification is performed by the two-layer blockchain system 820.

[0220] According to step 520, a given validator node bids a corresponding number of first-layer tokens. It should be understood that in this embodiment, the validator node does not stake the second-layer tokens, but requires the second-layer tokens in the corresponding wallet of the validator node to bid for the first-layer tokens.

[0221] In one or more embodiments, each respective validator node that wishes to participate in the bidding process sends an indication of the bidding of these validator nodes to the two-layer blockchain system 820. Upon receipt of the indication, the two-layer blockchain system 820 verifies whether the respective validator nodes have bid a respective number of first-layer tokens that is equal to or higher than the first-layer bidding threshold.

[0222] According to step 530, active validator node selection is performed. In one or more embodiments, the two-tier blockchain system 800 selects an active validator node from a set of candidate active validator nodes that have bid a corresponding number of first-tier tokens equal to or higher than a first-tier bid threshold. In one or more embodiments, all sets of candidate active validator nodes are selected as active validator nodes.

[0223] The first layer tokens used in successful bids are burned according to step 540. The first layer tokens in unsuccessful bids are returned to the validator nodes that were not selected as active validator nodes.

[0224] Layer 1 Token Mining Process

[0225] Figure 6 A first layer token creation process 600 according to an embodiment is shown. In one or more embodiments, Figure 8 The first layer token creation process 600 is executed within the environment and blockchain system 800.

[0226] The purpose of the first layer token creation process 600 is to generate first layer tokens in the blockchain ledger 880, which will affect the generation of second layer tokens in the blockchain ledger 880 for subsequent periods.

[0227] According to step 602, a given asset production entity is selected.

[0228] In one or more embodiments, a given asset producing entity 802 is selected by the two-tier blockchain system 820 from among a plurality of asset producing entities.

[0229] A given asset production entity 802 may be in the process of producing a physical asset or may have already produced a physical asset and measured asset production sensor data using sensors 804. The asset production sensor data measured by sensors 804 may be sent to a producer node 806 associated with the asset production entity 802.

[0230] Selection of a given asset production entity includes identifying a producer node 806 that will receive first-tier token rewards. In one or more embodiments, a producer node 806 associated with an asset production entity 802 is selected and a corresponding producer node wallet 808 that will receive first-tier token rewards is identified.

[0231] According to step 604, the two-layer blockchain system receives asset production data based on a certain number of assets produced. In one or more embodiments, the two-layer blockchain system 820 receives asset production data that has been generated based on asset production sensor data and asset information from a third-party data source 810. The asset production data can be generated by a producer node 806. In other embodiments, the asset production data can be generated by a feedback device 814 using data from a third-party data source 810 and a producer node 806.

[0232] According to step 606, the blockchain system 820 receives the trusted production data from the trusted data source. In one or more embodiments, the trusted production data is received from the trusted production data source 812. It should be understood that the trusted production data can be determined based on the trusted production data from multiple trusted production data sources 812, wherein the trusted production data is obtained by averaging or weighting the data from the multiple trusted production data sources.

[0233] In one or more embodiments, the feedback device 814 determines the trusted production data and sends the trusted production data to the two-tier blockchain system 820 .

[0234] According to step 608, the blockchain system 820 compares the production data with the trusted production data. It should be understood that the comparison process is performed to evaluate the liability of the production data provided by the producer node 806 associated with the asset production entity 802. In one or more embodiments, step 608 can be performed using a smart contract. In one embodiment, the producer node 806 can provide an advance payment to the two-layer blockchain system 820.

[0235] Different techniques can be used to compare production data and trusted production data. It should be understood that corresponding asset information (e.g., type, quantity, location, quality, condition, ownership, and production capacity) of a given asset linked to production entity 802 can be used to compare production data and trusted production data.

[0236] In one or more embodiments, the two-layer blockchain system 820 obtains a comparison result. As a non-limiting example, the comparison result can be the difference between the asset production data and the trusted production data.

[0237] According to step 610, the two-layer blockchain system determines the first-layer token reward based on the comparison result. In one or more embodiments, the two-layer blockchain system 820 determines the first-layer token reward (i.e., a certain number of first-layer tokens) by selecting the lowest value among the asset production data and the trusted production data, receiving the first-layer token reward function, determining the threshold value based on the comparison result, and calculating the first-layer token reward based on the lowest value, the threshold value, and the first-layer token reward function. Therefore, the producer node 806 may be penalized for reporting inaccurate asset production data.

[0238] The first layer token rewards increase the total amount of first layer tokens in the blockchain ledger 880.

[0239] In one or more embodiments, information including the comparison results and information for calculating the first-layer token reward is added to a pending block in the dual-layer blockchain ledger 880. It should be understood that in the pending block, at least a portion of the information may be encrypted and / or one-way encrypted.

[0240] According to step 612, the two-layer blockchain system sends the first-layer token reward to the producer node. In one or more embodiments, the two-layer blockchain system 820 sends the first-layer token reward to the producer node 806.

[0241] refer to Figure 7 , a flow chart of a method 700 for sending a corresponding share of a newly generated second-layer token to an active validator node is shown. The method 700 can be performed within a blockchain system 820.

[0242] According to processing step 702 , the blockchain system 820 receives asset production sensor data representing the production of a given physical asset from a producer computer node 806 associated with the asset production entity 802 , the asset production sensor data having been measured by a sensor 804 of the asset production entity 802 .

[0243] According to process step 704, blockchain system 820 generates a new number of first-layer tokens based at least on the asset production data. The generation of a new number of first-layer tokens is also referred to as token manufacturing.

[0244] In one or more embodiments, the new number of first-layer tokens corresponds to the first-layer token reward for the period. The number of first-layer tokens is generated based on the comparison of the asset production data and the trusted asset production data. The asset production data is determined based on the data from the third-party data source 810 and the asset production sensor data, and is sent to the blockchain system 820. The trusted asset production data is determined based on the asset production sensor data and the data from the trusted data source 812. The blockchain system 820 performs a comparison of the asset production data and the trusted asset production data, and after reaching a consensus, determines and generates a new number of first-layer tokens.

[0245] According to processing step 706, blockchain system 820 sends the generated new certain number of first-layer tokens to producer computer node 806. The current total amount of first-layer tokens in blockchain ledger 880 corresponds to the newly generated certain number of first-layer tokens and the total amount of first-layer tokens (i.e., the total amount that has been generated for all previous periods). Blockchain system 820 sends the generated certain number of first-layer tokens to producer node wallet 808 of producer node 806.

[0246] According to process step 708 , the blockchain system 820 generates a new number of second-layer tokens based on the current total amount of first-layer tokens.

[0247] The new amount of second layer tokens corresponds to the total amount of second layer token rewards that will be distributed to active validator nodes for the current period.

[0248] In one or more embodiments, the new number of second layer tokens is determined based on the second layer block rewards for the previous period, the first layer token rewards for the previous period, and the first layer token rewards before the previous period, and the asset production increase parameter.

[0249] According to process step 710, blockchain system 820 receives at least one of a number of first-layer tokens bid and a number of second-layer tokens staked from a set of validator computer nodes from a plurality of validator computer nodes. The set of validator computer nodes with bid first-layer tokens and / or staked second-layer tokens forms a candidate active validator node set.

[0250] According to process step 712, blockchain system 820 selects an active set of validator computer nodes from the set of validator computer nodes based on at least one of a corresponding bid amount of first layer tokens and a corresponding staked amount of second layer tokens.

[0251] In one or more embodiments, the set of active validator computer nodes includes a super validator computer node.

[0252] According to processing step 714, the active validator node verifies the pending block after reaching consensus to obtain a new block in the blockchain ledger 880. The pending block is proposed by a given validator node before processing step 714.

[0253] According to process step 716, the blockchain system 820 sends a corresponding share of the new number of second layer tokens to each of the active validator nodes, and the current total amount of second layer tokens in the dual-layer blockchain ledger 880 is based on the generated new number of second layer tokens.

[0254] In one or more embodiments, prior to processing step 716, blockchain system 820 determines a corresponding share of a new number of second layer tokens that corresponds to a corresponding number of second layer token rewards sent to each active validator node.

[0255] In one or more embodiments, the blockchain system 820 burns the corresponding bids for the first-layer tokens from the active validator nodes, i.e., removes the bids for the first-layer tokens from the current total amount of the first-layer tokens in the blockchain ledger 880.

[0256] Processing steps 702 through 716 may be repeated for each new period in the blockchain system 820 .

[0257] refer to Fig. 9 , shows a computing device 1000 suitable for some embodiments of the present technology, which includes various hardware components, including one or more single-core or multi-core processors collectively represented by processor 1002, a graphics processing unit (GPU) 1004, a storage drive 1006 such as a solid-state drive, a random access memory 1008, a display interface 1010 and an input / output interface 1012.

[0258] In one or more embodiments, computing device 1000 may be used to implement producer computer node 106 and plurality of computer nodes 822 , 824 , 826 , 828 .

[0259] Communications between the various components of computing device 1000 may be accomplished via one or more internal and / or external buses 1014 (e.g., a PCI bus, a Universal Serial Bus, an IEEE 1394 "FireWire" bus, a SCSI bus, a Serial ATA bus, etc.), to which the various hardware components are electrically coupled.

[0260] The input / output interface 1012 may be coupled to a touch screen 1016 and / or one or more internal and / or external buses 1014. The touch screen 1016 may be part of a display. In one or more embodiments, the touch screen 1016 is a display. The touch screen 1016 may also be referred to as a screen 1016. Figure 1 In the illustrated embodiment, the touch screen 1016 includes touch hardware 1018 (e.g., a pressure-sensitive battery embedded in the display layers to allow detection of physical interaction between a user and the display) and a touch input / output controller 1020 to allow communication with the display interface 1010 and / or one or more internal and / or external buses 1014. In one or more embodiments, the input / output interface 1012 may be connected to a keyboard (not shown), a mouse (not shown), or a trackpad (not shown) to allow a user to interact with the computing device 1000 in addition to or in addition to the touch screen 1016.

[0261] According to an embodiment of the present technology, the solid state drive 1006 stores program instructions suitable for being loaded into the random access memory 1008 and executed by the processor 1002 and / or the GPU 1004 for asset-based consensus according to the method embodiments proposed herein. For example, the program instructions can be part of a library or an application.

[0262] As will be appreciated by those skilled in the art, computing device 1000 may be implemented as a server, a desktop computer, a laptop computer, a tablet computer, a smart phone, a personal digital assistant, or any device that may be suitable for implementing the present technology.

[0263] In the proposed two-layer token system for the consensus process, the current two-layer blockchain protocol incentivizes producer nodes associated with asset producers to operate validator nodes to compete for block rewards in the bidding and staking process. Nodes that bid more first-layer tokens can gain an advantage. This incentivizes real-world economic activities to obtain block rewards. For example, more asset production leads to more first-layer tokens to bid higher and receive a higher proportion of per-block rewards. In addition, more asset production can lead to more first-layer tokens to run more validator nodes at a higher frequency to receive block rewards.

[0264] In the proposed two-layer token system, the consensus process and business profits are separated. Current two-layer blockchain protocols produce second-layer tokens that are decoupled from the underlying assets and are therefore not subject to the regulation of asset-backed tokens. Asset producing entities can handle operational and investment activities independently of the blockchain protocol and operate in accordance with all applicable regulations. The two-layer blockchain protocol has no ownership or claim rights to any assets or business activities of the asset producer.

[0265] According to an embodiment of the proposed two-layer token system, real-world assets from asset-producing entities are used to create second-layer tokens, while malicious entities are prevented from freely creating second-layer tokens.

[0266] In some embodiments, second layer tokens are only awarded to nodes that participate in the proof-of-stake consensus process. The present technology is a secure proof-of-stake system, which makes protocol attacks economically infeasible. All nodes require a base level of second layer tokens to operate, and an attack on the protocol would require acquiring a large amount of second layer tokens from the market. Furthermore, there is no way to ensure that bidding for second layer tokens will result in the ability to manipulate consensus, because the selection of validator nodes based on second layer bidders is random, and first layer nodes are also involved in the verification process.

[0267] Furthermore, second-layer tokens are never directly granted to asset-producing nodes associated with asset-producing entities. Producer nodes can only mint first-layer tokens to bid for a chance to increase block rewards; asset-producing entities must still operate validator nodes to further secure the network before winning second-layer rewards.

[0268] In the proposed two-layer token system, the first-layer tokens are used as a shield to protect the second-layer tokens from any dishonest asset producers who attempt to freely mint second-layer tokens. In addition, these embodiments are provided to limit the overall impact of fraudulent asset producers who try to mint first-layer tokens on the current two-layer blockchain protocol. As described above, in order to run a validator node, the producer node must accumulate enough second-layer tokens and optionally bid for first-layer tokens or second-layer tokens to become an active validator. Because validators are randomly selected, there is no guarantee that a fraudulent producer node will be selected as an active validator.

Claims

1. A method for sending second layer tokens to a set of active validator nodes in a blockchain system, The blockchain system includes: Multiple validator computer nodes connected via a communication network, The blockchain system maintains a two-layer blockchain ledger, including: a first layer of tokens, the first layer of tokens being a first type of token associated with the production of a physical asset, and The second layer tokens are second type tokens, and the total amount of the second layer tokens depends on the total amount of the first layer tokens. The blockchain system is connected to a producer computer node, and the method includes: receiving, from said producer computer node associated with an asset production entity, asset production sensor data representing production of a given physical asset, said asset production sensor data having been measured by sensors of said asset production entity; Generate a new number of first-layer tokens based on at least the asset production data; Sending a certain number of first-layer tokens generated to the producer computer node, wherein the current total amount of the first-layer tokens is based on the certain number of first-layer tokens generated and the total amount of the first-layer tokens; Generate a certain number of new second-layer tokens based on the current total amount of the first-layer tokens; receiving at least one of a corresponding bid amount of first layer tokens and a corresponding staked amount of second layer tokens from a set of validator computer nodes from the plurality of validator computer nodes; Selecting an active set of validator computer nodes from the set of validator computer nodes based on at least one of the corresponding bidded number of first-layer tokens and the corresponding staked number of second-layer tokens; After consensus is reached by the active validator nodes, verify the pending block to obtain a new block in the two-layer blockchain ledger, the new block including at least an indication of a certain number of first-layer tokens generated and an indication of the total amount of the second-layer tokens; and Sending a corresponding share of a newly generated number of second-layer tokens to each of the set of active validator nodes, the current total amount of the second-layer tokens in the two-layer blockchain being based on the newly generated number of second-layer tokens.

2. The method according to claim 1, wherein: Selecting the set of active validator computer nodes from the set of validator computer nodes based on at least one of the corresponding bid number of first layer tokens and the corresponding staked number of second layer tokens includes: Based on the corresponding bids for a certain number of first-layer tokens, selecting a subset of the set of validator nodes as super validator nodes, the super validator nodes being a subset of the active validator nodes; and A corresponding share of the generated new number of second-layer tokens for the super validator node is determined, the corresponding share for the super validator node being greater than corresponding shares of the generated number of second-layer tokens for the remaining active validator nodes.

3. The method according to claim 2, further comprising: A certain number of first-layer tokens of the corresponding bid is burned, and the burning causes a current total amount of the first-layer tokens based on the certain number of first-layer tokens of the corresponding bid to be reduced.

4. The method according to claim 3, further comprising: Sending the corresponding staked amount of second layer tokens back to the active validator node.

5. The method according to any one of claims 1 to 4, wherein: Generating the new certain number of second layer tokens comprises: After consensus is reached by the blockchain system, asset production increase parameters are determined; and The generated new certain number of second layer tokens is determined based on the asset production increase parameter and the total amount of the first layer tokens.

6. The method according to any one of claims 1 to 3, wherein: Generating the new number of first layer tokens to the producer computer node includes: receiving asset production data that has been generated based on the asset production sensor data; receiving trusted production data from a trusted data source connected to the blockchain system; comparing the trusted production data with the trusted production data to obtain a comparison result; and The new number of first layer tokens is determined based on the comparison result.

7. The method according to any one of claims 1 to 6, further comprising, before verification, after consensus is reached by the active validator nodes, the pending block at least including an indication of a certain number of first-layer tokens generated to obtain the new block in the two-layer blockchain ledger: The block to be processed for the current period is generated by a given node of the validator computer node set based on the asset production sensor data.

8. The method according to claim 7, further comprising: A corresponding share of a newly generated number of second layer tokens is determined for transmission to the given node.

9. The method according to any one of claims 1 to 8, wherein: The total amount of the first layer tokens is the total amount of the first layer tokens for a previous period.

10. The method according to any one of claims 1 to 9, further comprising: receiving a request from the producer computer node to be added to the blockchain system as a new validator computer node; and After consensus is reached by the validator computer nodes, the producer computer node is added to the blockchain system as the new validator computer node.

11. The method according to claim 1, wherein: The set of active validator computer nodes is an incorrect subset of the set of validator computer nodes.

12. The method according to any one of claims 1 to 11, wherein: Each validator computer node stores a corresponding wallet, the wallet comprising: a corresponding set of encryption keys, a corresponding number of second-layer tokens, and a corresponding number of first-layer tokens; and wherein The producer computer node stores a corresponding producer wallet, wherein the producer wallet includes a corresponding producer encryption key set, and the corresponding producer wallet is used to receive the generated new number of first-layer tokens.

13. The method according to any one of claims 1 to 12, wherein: The given physical asset includes at least one of precious metals, energy commodities, agricultural products, and industrial metals.

14. A system for sending a corresponding share of a new number of second layer tokens to a set of active validator computer nodes in a dual layer blockchain ledger, The two-layer blockchain ledger includes: a first layer of tokens, the first layer of tokens being a first type of token associated with the production of a physical asset, and The second layer tokens are second type tokens, and the total amount of the second layer tokens depends on the total amount of the first layer tokens. The system comprises: Multiple validator computer nodes connected via a communication network, The system is configured to: receiving asset production sensor data representing production of a given physical asset from a producer computer node connected to the system, the producer computer node being associated with an asset production entity, the asset production sensor data having been measured by a sensor of the asset production entity; Generate a new number of first-layer tokens based on at least the asset production data; Sending a certain number of first-layer tokens generated to the producer computer node, wherein the current total amount of the first-layer tokens is based on the certain number of first-layer tokens generated and the total amount of the first-layer tokens; Generate a certain number of new second-layer tokens based on the current total amount of the first-layer tokens; receiving at least one of a corresponding bid amount of first layer tokens and a corresponding staked amount of second layer tokens from a set of validator computer nodes from the plurality of validator computer nodes; selecting the set of active validator computer nodes from the set of validator computer nodes based on at least one of the corresponding bidded number of first-layer tokens and the corresponding staked number of second-layer tokens; After consensus is reached by the active validator computer nodes, verify the pending block to obtain a new block in the two-layer blockchain ledger, the new block including at least an indication of a certain number of first-layer tokens generated and an indication of the total amount of the second-layer tokens; and Sending a corresponding share of a newly generated number of second-layer tokens to each of the set of active validator computer nodes, the current total amount of the second-layer tokens in the two-layer blockchain being based on the newly generated number of second-layer tokens.

15. The system of claim 14, wherein: Selecting the set of active validator computer nodes from the set of validator computer nodes based on at least one of the corresponding bid number of first layer tokens and the corresponding staked number of second layer tokens includes: Based on the respective bids for a certain number of first-layer tokens, selecting a subset of the set of validator computer nodes as super validator nodes, the super validator nodes being a subset of active validator nodes; and A corresponding share of the generated new number of second-layer tokens for the super validator node is determined, the corresponding share for the super validator node being greater than corresponding shares of the generated number of second-layer tokens for the remaining active validator nodes.

16. The system of claim 15, wherein: The system is also configured to: A certain number of first-layer tokens of the corresponding bid is burned, and the burning causes a current total amount of the first-layer tokens based on the certain number of first-layer tokens of the corresponding bid to be reduced.

17. The system of claim 16, wherein: The system is further configured to send the corresponding staked number of second layer tokens back to the active validator computer node.

18. A system according to any one of claims 14 to 17, wherein: Generating the new certain number of second layer tokens comprises: After consensus is reached by the blockchain system, asset production increase parameters are determined; and The generated new certain number of second layer tokens is determined based on the asset production increase parameter and the total amount of the first layer tokens.

19. A system according to any one of claims 14 to 16, wherein: Generating the new number of first layer tokens to the producer computer node includes: receiving asset production data that has been generated based on the asset production sensor data; receiving trusted production data from a trusted data source connected to the blockchain system; comparing the trusted production data with the trusted production data to obtain a comparison result; and The new number of first layer tokens is determined based on the comparison result.

20. A system according to any one of claims 14 to 19, wherein: The system is further configured to, prior to verification, after consensus is reached by the active validator computer nodes, the pending block includes at least an indication of the generated number of first-layer tokens to obtain the new block in the dual-layer blockchain ledger: The block to be processed for the current period is generated by a given node of the validator computer node set based on the asset production sensor data.

21. The system of claim 20, wherein: The system is further configured to determine a corresponding share of the newly generated number of second layer tokens to send to the given node.

22. A system according to any one of claims 14 to 21, wherein: The total amount of first-tier tokens is the total amount of first-tier tokens for a previous period.

23. A system according to any one of claims 14 to 22, wherein: The system is also configured to: receiving a request from the producer computer node to be added to the blockchain system as a new validator computer node; and After consensus is reached by the validator computer nodes, the producer computer node is added to the blockchain system as the new validator computer node.

24. The system of claim 14, wherein: The set of active validator computer nodes is an incorrect subset of the set of validator computer nodes.

25. A system according to any one of claims 14 to 24, wherein: Each validator computer node stores a corresponding wallet, the wallet comprising: a corresponding set of encryption keys, a corresponding number of second-layer tokens, and a corresponding number of first-layer tokens; and wherein The producer computer node stores a corresponding producer wallet, wherein the producer wallet includes a corresponding producer encryption key set, and the corresponding producer wallet is used to receive the generated new number of first-layer tokens.

26. A system according to any one of claims 14 to 25, wherein: The given physical asset includes at least one of precious metals, energy commodities, agricultural products, and industrial metals.

Images