Blockchain Digital Asset Acquisition With Off-Chain Valuation
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Solution Overview
Problem
The dynamic nature of pricing and permission or authorization logic in on-chain acquisition of digital assets on a blockchain poses challenges, particularly when implementing complex business rules for different digital assets, partners, and resellers, leading to difficulties in supporting these requirements directly on the blockchain.
Innovation Solution
The solution involves offloading complex business logic, such as pricing and validation, off-chain to enhance flexibility and reduce computational load on the blockchain, allowing smart contracts to operate with off-chain data processing and ensuring only authorized entities can acquire digital assets through enhanced security measures.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If complex pricing and validation logic is implemented on-chain, then transparency and security of digital asset acquisition are improved, but device complexity and computational load on the blockchain increase significantly
Solution Approach 1:
The patent extracts complex pricing and validation logic from the blockchain (on-chain) environment and places it in an off-chain environment. This allows the blockchain to maintain transparency and security for critical operations while offloading computationally intensive and complex business logic to external systems, thereby reducing on-chain complexity and computational load.
Solution Approach 2:
The patent introduces an intermediary off-chain system that acts as a bridge between the user and the blockchain. This intermediary handles complex pricing calculations and validation logic, then communicates results back to the blockchain for final transaction execution. This mediator approach maintains blockchain security while reducing on-chain complexity.
2Adaptability or versatility
If dynamic pricing logic is implemented on-chain, then adaptability to different digital assets and partners is improved, but loss of energy and transaction costs increase
Solution Approach 1:
The patent extracts dynamic pricing logic from the blockchain to an off-chain environment, allowing flexible and adaptive pricing calculations to be performed externally. This maintains the adaptability needed for different digital assets, partners, and resellers while avoiding the high energy costs and transaction fees associated with executing complex dynamic logic on-chain.
Solution Approach 2:
The patent performs partial pricing and validation logic off-chain, executing only the essential critical checks on-chain. This partial approach maintains necessary adaptability for different assets and partners while significantly reducing the energy consumption and transaction costs associated with full on-chain execution of dynamic pricing logic.
3Reliability
If comprehensive validation logic is implemented on-chain, then reliability of digital asset acquisition is improved, but productivity and speed of transaction processing decrease
Solution Approach 1:
The patent extracts comprehensive validation and authorization logic from the on-chain environment to an off-chain system. This allows thorough validation to be performed externally, maintaining high reliability and accuracy, while avoiding the speed limitations and processing delays that would result from executing comprehensive validation logic directly on the blockchain.
Solution Approach 2:
The patent performs comprehensive validation and authorization checks in advance (off-chain) before submitting transactions to the blockchain. This preliminary action ensures high reliability and accuracy of validation while improving transaction processing speed, as the blockchain only needs to execute final confirmation rather than comprehensive validation.
Data Source
AI summary
According to a present invention embodiment, a system for acquiring a digital asset on a blockchain comprises one or more memories and at least one processor coupled to the one or more memories. The system receives transaction information for a transaction to acquire the digital asset on the blockchain. The transaction information including a value for acquiring the digital asset is verified based on authentication information. Off-chain processing determines a dynamically changing value for acquiring the digital asset and produces the authentication information based on the dynamically changing value. The transaction is performed on the blockchain to acquire the digital asset in response to verification of the transaction information. Embodiments of the present invention further include a method and computer program product for acquiring a digital asset on a blockchain in substantially the same manner described above.


