Analytics Engine for Blockchain Nodes
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Solution Overview
Problem
Blockchain technology is unable to intelligently handle complex process automation and is not suitable for computations associated with optimization and prediction problems, limiting its ability to manage complex processes effectively.
Innovation Solution
Associating an analytics engine with each node of a multiple node blockchain to perform computations and post results to smart contracts, distributing computational resources and reducing the risk of single-point failures.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If blockchain technology is used for process automation, then transparency and security are improved, but computational capability and intelligence are insufficient
Solution Approach 1:
The system segments the blockchain network into multiple independent nodes, each capable of running analytics engines locally. This segmentation allows computational tasks to be distributed across nodes rather than requiring centralized processing, thereby improving overall computational capability while maintaining blockchain security and transparency through decentralized architecture.
Solution Approach 2:
Analytics engines are introduced as intermediary components that bridge the gap between blockchain's limited computational capabilities and complex analytical requirements. These engines process data locally at each node, generating insights that can then be recorded on the blockchain, thus enhancing computational versatility without compromising the blockchain's security model.
2Productivity
If centralized analytics processing is implemented, then computational efficiency is improved, but single-point failure risk increases
Solution Approach 1:
The analytics processing capability is segmented and distributed across multiple blockchain nodes rather than centralized in a single location. Each node runs its own analytics engine, enabling parallel processing that maintains computational efficiency while eliminating single-point failure risks through redundancy.
Solution Approach 2:
The system changes the operational parameter from centralized to decentralized analytics processing. By modifying the architectural parameter from a single processing point to multiple distributed processing points, the system achieves both computational efficiency through parallelism and reliability through fault tolerance.
3Reliability
If analytics engines are distributed across multiple nodes, then resource conservation and fault tolerance are improved, but system complexity increases
Solution Approach 1:
Each blockchain node is designed with universal multi-functionality, capable of running both blockchain consensus protocols and analytics engines. This multi-functionality reduces system complexity by using existing node infrastructure for dual purposes rather than requiring separate specialized systems, while still achieving distributed fault tolerance.
Solution Approach 2:
Each node autonomously runs its own analytics engine and processes data independently without requiring centralized coordination. This self-service approach simplifies the system architecture by eliminating complex inter-node communication protocols for analytics, while maintaining fault tolerance through independent operation of each node.
Data Source
AI summary
A first device receives, via a blockchain node of the first device, data and constraints associated with a smart contract, where the smart contract is deployed via a blockchain node associated with a second device, the first and second devices are provided in a blockchain network, through their blockchain nodes. The first device provides, via the blockchain node, the data and constraints to an analytics engine of the first device, and performs, via the analytics engine, a data analytics technique on the data and constraints to generate an offer with optimized parameters. The first device provides the offer with the optimized parameters to the smart contract associated with the second device, and receives, via the blockchain node, a confirmation of a transaction associated with the smart contract. The first device causes the offer with the optimized parameters to be implemented based on receiving the confirmation of the transaction.