AXEL Blockchain Dual-Ledger Token Control
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Solution Overview
Problem
Current blockchain networks lack efficient and scalable methods for managing digital content and assets while ensuring privacy and security, and they often require users to disclose transaction details publicly, compromising privacy and integrity.
Innovation Solution
The Autonomous eXchange via Entrusted Ledger (AXEL) blockchain employs a unique dual-ledger system with a public and private chain architecture, allowing private transactions to be recorded on a user's private ledger while maintaining privacy and using a consensus algorithm for verification, along with features like self-sovereign identity, decentralized storage, and AI for user-focused transaction management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If tokens are restricted to specific applications within a blockchain network, then token usage control and network security are improved, but transaction flexibility and user autonomy deteriorate
Solution Approach 1:
The patent segments the blockchain network into multiple application-specific sub-networks or layers, where tokens can be restricted to specific applications through designated pathways while maintaining overall network flexibility. This allows different token cohorts to be assigned to different applications without compromising the entire network's transaction flexibility.
Solution Approach 2:
The patent implements local quality by applying different restriction rules to different token cohorts or transaction types within the same blockchain network. Specific applications can have tailored token usage restrictions while other parts of the network maintain full transaction flexibility, allowing customized control at local levels without affecting global adaptability.
2Loss of information
If a dual-ledger system with public and private chains is implemented, then transaction privacy is improved, but system complexity and verification overhead deteriorate
Solution Approach 1:
The patent introduces an intermediary layer or protocol that bridges the public and private ledgers, managing the complexity of dual-ledger operations. This intermediary handles the coordination between public verification and private transaction recording, reducing the burden on individual nodes and simplifying the overall system architecture.
Solution Approach 2:
The patent merges certain functions of the public and private ledgers into a unified verification mechanism, where the same consensus algorithm operates on both ledgers with appropriate modifications. This reduces redundancy and simplifies the system by eliminating the need for completely separate verification processes.
3Reliability
If witnesses execute consensus algorithm to verify transactions, then transaction integrity is improved, but network scalability and transaction speed deteriorate
Solution Approach 1:
The patent implements partial verification where not all witnesses need to fully verify every transaction detail. Instead, a subset of witnesses performs lightweight verification while maintaining overall transaction integrity. This allows faster processing while preserving security through distributed consensus.
Solution Approach 2:
The patent performs preliminary verification actions before transactions are fully processed on the blockchain. Transactions can be pre-validated off-chain or in a preliminary phase, reducing the verification burden during main chain processing and thereby increasing transaction throughput while maintaining integrity.
Data Source
AI summary
An application specific wallet function of a blockchain wallet provides a method in which blockchain tokens may be assigned for specific uses and other uses can be prevented. The application specific wallet function can be configured to allow tokens to only be used on some or all of the applications hosted on or available through the blockchain, and can also be configured to prevent tokens from being utilized for any purpose outside of the use intended by the network host or provisioner. This can ensure that the wallet owner uses the tokens for blockchain applications and can prevent the wallet owner from trading or selling the tokens on a cryptocurrency exchange.