Blockchain Fund Settlement System Security
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Solution Overview
Problem
Conventional centralized fund settlement systems are vulnerable to malicious attacks, leading to economic losses and credibility issues for settlement institutions, which can destabilize the entire fund settlement process.
Innovation Solution
A blockchain-based data processing method and apparatus that enables settlement institutions to query, receive, and record settlement requests and results on a blockchain, ensuring transparency and security through decentralized consensus and cryptographic verification.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If a centralized fund settlement system is used, then processing efficiency is improved, but security and credibility are worsened due to vulnerability to malicious attacks
Solution Approach 1:
The patent segments the centralized settlement system into a distributed blockchain network where multiple settlement institutions independently verify and record transactions. This segmentation eliminates the single point of failure in centralized systems while maintaining processing efficiency through parallel transaction validation across multiple nodes.
Solution Approach 2:
The patent introduces blockchain technology as an intermediary layer between settlement institutions and the settlement process. This intermediary provides cryptographic verification and consensus mechanisms that enhance security and credibility without compromising processing efficiency, as the blockchain network can handle multiple transactions simultaneously.
2Ease of operation
If centralized processing is used, then operational simplicity is improved, but trust and credibility are worsened when attacks occur
Solution Approach 1:
The patent implements self-service through automated cryptographic verification and consensus mechanisms in the blockchain network. Settlement institutions independently validate transactions using cryptographic algorithms, eliminating the need for manual trust verification while maintaining operational simplicity. The system automatically detects and prevents malicious attacks through distributed consensus.
Solution Approach 2:
The patent incorporates feedback mechanisms where each settlement institution continuously monitors and verifies transactions on the blockchain network. This real-time feedback through cryptographic validation ensures that any attempted attacks are immediately detected and rejected, maintaining trust and credibility while preserving operational simplicity through automated processes.
3Reliability
If blockchain technology is implemented, then security and credibility are improved, but system complexity is worsened
Solution Approach 1:
The patent applies universality by designing the blockchain network to perform multiple functions simultaneously: transaction verification, security validation, consensus achievement, and attack prevention all occur within the same distributed system framework. This multi-functionality reduces the need for separate security layers and verification mechanisms, thereby limiting the increase in system complexity while maximizing security and credibility improvements.
Data Source
AI summary
A data processing method, an apparatus, a device, and a medium in a blockchain fund settlement system are provided. A data processing method in a blockchain fund settlement system, performed by at least one processor of a settlement institution terminal, includes: querying, on a blockchain, a settlement request that is to be processed by the settlement institution terminal between a fund settlement initiator and a fund settlement recipient, the settlement request being generated by an initiator terminal of the fund settlement initiator and recorded on the blockchain; receiving the settlement request based on the querying; and generating a settlement result of a settlement performed according to the settlement request, and recording the settlement result on the blockchain.