Blockchain Schedule Processor for Automated Smart Contract Execution
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing blockchain systems lack the capability to schedule messages and automate smart contract executions based on predefined schedules or logic, relying on external solutions that are not recorded on the blockchain and are prone to failures and high costs.
Innovation Solution
A novel blockchain network system that integrates scheduling as a Layer-1 solution, enabling future execution of scheduled blockchain messaging and self-invoking smart contracts within a distributed and decentralized network, using nodes with Message Processing and Network Routing Module, Blockchain History Module, and Validator Module.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If external protocols are used for scheduling transactions, then scheduling capability is provided, but reliability deteriorates because the scheduled transactions are not recorded on the blockchain and there is no guarantee of execution
Solution Approach 1:
The patent merges the scheduling functionality with the blockchain core by integrating a schedule processor into each node that converts schedule messages into transactions recorded on the blockchain. This combination ensures that scheduling decisions and their executions are both stored on-chain, providing both adaptability and reliability simultaneously.
Solution Approach 2:
The patent introduces a schedule message as an intermediary data structure that is first recorded on the blockchain, then processed by the schedule processor to generate actual transactions. This intermediary mechanism ensures that scheduling intentions are verifiably recorded before execution, bridging the gap between scheduling capability and execution guarantee.
2Extent of automation
If centralized solutions like Chainlink are used for smart contract automation, then automation is provided, but device complexity increases due to off-chain computation and multiple security measures
Solution Approach 1:
The patent enables smart contracts to automatically generate and execute their own scheduled transactions through the schedule processor embedded in each node. The smart contract itself contains the scheduling logic and automatically creates the necessary transactions when conditions are met, eliminating the need for external automation services and reducing system complexity.
Solution Approach 2:
The patent moves the automation logic from the off-chain dimension to the on-chain dimension by implementing the schedule processor within the blockchain network itself. This dimensional shift brings automation capabilities directly into the trusted execution environment, simplifying the overall system architecture while maintaining high automation levels.
3Reliability
If transactions are immediately executed for consensus and security, then deterministic execution is maintained, but scheduling capability is lost
Solution Approach 1:
The patent uses schedule messages as preliminary records that capture scheduling intentions before actual execution. These schedule messages are recorded on the blockchain with all necessary execution details, allowing the system to maintain deterministic immediate execution while supporting future scheduling through pre-recorded transaction instructions that will be automatically processed.
Data Source
AI summary
This invention describes a novel blockchain network system and method tailored for managing the time and logic sensitive scheduling operations, specifically allowing the scheduling of executions in the future. The novel blockchain network system and scheduling method is a Layer-1 solution that preserves the open, distributed, decentralised, verifiable, robust, immutable and secure data archiving properties of blockchain network and is distinguished from other Layer-2 protocols built on top of Layer-1 blockchain networks. With schedule messages, self-invoking contracts can be realised to carry out recurring tasks, updates, or transactions without external activation or approval. Self-invoking smart contracts can be used to create digital tokens with expiration time, universal basic income framework which is self-sustainable without continuous funding injection, periodic increment or decrement in token amount similar to the interest rate payment, and financial derivative tokens which is analogous to options, futures, forwards, warrants, and hybrid derivatives in the financial market.