Blockchain Version Control Smart Contract Update System
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Solution Overview
Problem
Current blockchain-based systems face challenges in efficiently updating smart contracts, auctioning crypto collectibles, and managing digital assets, particularly when the owner is no longer interested or unable to maintain ownership, and in updating smart contract code when the publisher is uninterested or unable to do so.
Innovation Solution
A method and system for updating a blockchain version control system by using a centralized version controller smart contract that manages indices of smart contract logic code addresses, allowing for simultaneous updates of proxied smart contracts, and implementing auction mechanisms that incentivize bidders with rewards, ensuring efficient auction processes and perpetual bidding systems for digital assets.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If smart contract code is updated individually for each proxied smart contract, then each contract can be updated independently, but the complexity of managing multiple updates increases significantly
Solution Approach 1:
The patent merges the update management of multiple proxied smart contracts into a single centralized version controller. The version controller maintains an index of all proxied contract addresses and their corresponding logic code addresses, allowing a single update operation to propagate changes across all proxied contracts simultaneously, thus reducing management complexity while maintaining update capability
Solution Approach 2:
The centralized version controller acts as an intermediary between the update source and multiple proxied smart contracts. It receives update requests, processes them through its index, and distributes the updates to all relevant proxied contracts, simplifying the overall update mechanism while maintaining individual contract update capability
2Productivity
If a centralized version controller is used to update all proxied smart contracts simultaneously, then update efficiency improves, but the system architecture becomes more complex
Solution Approach 1:
The centralized version controller is designed as a universal system that can manage updates for any number of proxied smart contracts through a single interface. Its index structure allows it to handle multiple contracts simultaneously, achieving high update efficiency across the entire system while the modular design keeps the added architectural complexity manageable
3Reliability
If smart contracts are made immutable for security, then security is improved, but the ability to update and fix bugs is lost
Solution Approach 1:
The system segments the smart contract into two parts: an immutable proxied contract that maintains security through its fixed address and interface, and a mutable logic code that can be updated through the version controller. The proxied contract calls the logic code through its index, allowing the logic code to be updated while the proxied contract remains secure and immutable
Solution Approach 2:
The version controller acts as an intermediary that enables secure updates. It verifies and manages the deployment of new logic code addresses, and updates the index in the proxied contract to point to the new logic code. This mediator approach allows updates while maintaining the security of the original proxied contract structure
Data Source
AI summary
A computer implemented method of updating a database system for a blockchain version control system, including a smart contract version control system, wherein proxied smart contracts each refer to a single centralized version controller smart contract which contains an index of smart contract logic code addresses, the method including the steps of: (i) updating a smart contract logic code addresses in an index so as to update the proxied smart contracts, and (ii) updating the database system for the blockchain version control system, to reflect the updating of the smart contract logic code addresses. There is further disclosed a computer implemented method of auctioning an item for a seller.