Document History Graph Hashing for Blockchain Asset Tracking
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Solution Overview
Problem
Current financial systems face inefficiencies in asset transfer and ownership tracking due to reliance on intermediaries, high reconciliation costs, and challenges in fraud prevention, which can be mitigated by a shared ledger but are hindered by trust and scalability issues in existing blockchain technologies like Bitcoin and Ethereum.
Innovation Solution
Implementing a document history graph and corresponding hash value within a blockchain in a cloud-based computing environment, allowing for a decentralized and scalable ledger system that supports advanced logic and asset management without a trusted third party.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a shared ledger is implemented to enable decentralized asset tracking, then transparency and fraud prevention are improved, but trust requirements and system complexity increase
Solution Approach 1:
The system segments the shared ledger into distributed nodes across the network, with each node maintaining a copy of the ledger and validation capabilities. This segmentation eliminates the need for a single trusted intermediary while distributing complexity across multiple independent entities, thereby improving fraud prevention without concentrating system complexity in one point.
Solution Approach 2:
The patent introduces cryptographic protocols and consensus mechanisms as intermediary layers between participants. These intermediaries enable trustless interactions by automatically validating transactions through mathematical proofs and network consensus, reducing the need for interpersonal trust while managing system complexity through standardized protocols.
2Productivity
If blockchain technology is used to eliminate intermediaries, then transfer efficiency is improved, but scalability and throughput are limited
Solution Approach 1:
The system implements a layered architecture where transaction validation occurs at multiple levels: individual nodes validate locally, then blocks are propagated and confirmed across the network. This dimensional approach to validation allows parallel processing of transactions across different network layers, improving throughput while maintaining the efficiency benefits of intermediary elimination.
Solution Approach 2:
The patent employs pre-computed Merkle trees and batch transaction processing where multiple transactions are validated and packaged into blocks in advance. This preliminary action allows the system to prepare validation data ahead of time, reducing real-time processing requirements and increasing overall transaction throughput without sacrificing the efficiency gains from removing intermediaries.
3Adaptability or versatility
If a powerful programming language is added to support custom smart contracts, then functionality and versatility are improved, but scalability and efficiency challenges increase
Solution Approach 1:
The system allows different nodes to specialize in different types of smart contract execution and validation. Some nodes may be optimized for complex computational tasks while others handle simpler transactions. This local quality differentiation enables the network to scale by distributing specialized functionality across nodes rather than requiring every node to handle all types of contracts equally.
Solution Approach 2:
The patent implements a state replication mechanism where only essential state information is copied across all nodes, while full smart contract execution environments are maintained locally on participating nodes. This copying approach allows versatile smart contract functionality to run on individual nodes without requiring every node to store and process the entire state, thereby maintaining scalability while supporting advanced programmability.
Data Source
AI summary
In a hosted computing environment a web server receives a document history graph. The web server performs a hash function, providing the document history graph as input to the hash function, the hash function providing a hash value as output. A blockchain services interface in the hosted computing environment generates a blockchain block that includes the hash value in a block payload hash field and the document history graph in a block payload field in the blockchain block. A blockchain consensus manager proposes adding the blockchain block to a private blockchain and receives an indication of consensus A block validator adds the blockchain block to the private blockchain responsive to consensus.