Distributed Digital Asset Networks with Rotating Single-Miner Settlement
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing digital asset networks face issues such as high resource consumption, centralization, orphan transactions, and double spending risks due to competitive mining processes, which undermine decentralization and require lengthy confirmation cycles for transaction assurance.
Innovation Solution
A digital asset system utilizing a cooperative computing architecture with super peer nodes that operate in a trustless manner, where a single node performs minting operations at a time, providing rapid transaction verification and settlement through tamper-evident logs and scheduled minting agents.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If competitive proof of work mining is used to confirm transactions, then transaction confirmation security is improved, but resource consumption and electricity usage increase significantly
Solution Approach 1:
The patent inverts the traditional competitive mining model by implementing a cooperative mining approach where miners work together rather than compete. The system uses a rotating single-miner model where one miner is selected at a time to propose blocks, and other miners verify and vote on the validity of transactions, eliminating the energy-wasting competitive puzzle-solving while maintaining security through collective verification.
Solution Approach 2:
The patent extracts the computationally intensive proof-of-work puzzle-solving from the transaction confirmation process. By removing the competitive mining race and keeping only the verification and consensus mechanisms, the system eliminates the majority of energy consumption while preserving the security benefits of distributed validation.
2Adaptability or versatility
If competitive mining is used to confirm transactions, then decentralization is maintained, but centralization occurs due to consortiums of powerful mining hardware
Solution Approach 1:
The patent inverts the power dynamics by allowing any participant to become the temporary single miner through a selection process, rather than requiring permanent investment in powerful mining hardware. This rotation mechanism ensures that mining power is distributed over time to different participants, preventing permanent centralization while maintaining system security.
Solution Approach 2:
The patent introduces dynamic role assignment where miners transition between being the active proposer and being a verifier based on a rotating schedule. This dynamic approach ensures that no single entity permanently controls the mining process, maintaining decentralization while enabling efficient single-miner operation at any given moment.
3Productivity
If multiple miners solve puzzles simultaneously, then transaction processing speed increases, but orphan blocks and double spending risks increase
Solution Approach 1:
The patent ensures continuous transaction processing by having a single miner continuously propose blocks without interruption from competitive mining races. Meanwhile, multiple verifiers continuously validate transactions in parallel, maintaining high processing throughput while eliminating the discontinuities and conflicts that cause orphan blocks.
Solution Approach 2:
The patent introduces a voting mechanism as an intermediary process between transaction proposal and confirmation. The selected miner proposes transactions, but multiple verifiers act as intermediaries to validate and vote on the proposals, ensuring consensus before finalization. This eliminates the race conditions that lead to orphan blocks while maintaining rapid processing.
4Reliability
If verification of mined blocks by all nodes is required, then trustless security is achieved, but confirmation time increases to six mining cycles
Solution Approach 1:
The patent performs preliminary verification by having multiple nodes validate transactions and vote on their validity before the block is finalized. This advance verification eliminates the need for prolonged confirmation waiting, as the security consensus is already established before the transaction needs to be confirmed for use.
Solution Approach 2:
The patent maintains continuous verification and validation processes that operate in parallel with block production. Rather than waiting sequentially for confirmations, the system continuously validates transactions across multiple verifiers, dramatically reducing the effective confirmation time while maintaining security through ongoing verification.
Data Source
AI summary
Systems, methods, and program products for providing and administering a digital asset network of cooperative nodes with rapid transaction settlements are disclosed.