Electronic Transaction Validation with User Counters and Node Consensus
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Solution Overview
Problem
Existing blockchain transaction systems face limitations in throughput, energy consumption, transaction validation time, transparency, scalability, and flexibility, with challenges in supporting concurrent users and preventing double spending.
Innovation Solution
A method involving a network of nodes that verify and register transactions using a user-specific transaction counter and digest, ensuring fast affirmation and registration through a majority vote, allowing for rapid transaction processing and robust protection against double spending.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If proof-of-work and consensus algorithms are used to protect against double spending, then transaction security is improved, but transaction throughput deteriorates
Solution Approach 1:
The system segments the transaction validation process into two distinct phases: a fast phase where nodes verify transaction information (counter, digest, signature) and a separate consensus phase. This segmentation allows the system to achieve high throughput during the fast verification phase while maintaining security through the distributed consensus mechanism, resolving the contradiction between speed and security.
Solution Approach 2:
The patent implements preliminary verification of transaction information (including counter validation and digest verification) before the final consensus is reached. Nodes perform initial checks locally and quickly, then only proceed to full consensus for transactions that pass these preliminary filters, thereby increasing overall throughput while maintaining security.
2Reliability
If proof-of-work is used to ensure transaction validity, then transaction security is improved, but energy consumption increases
Solution Approach 1:
The patent changes the computational parameters required for transaction validation. Instead of using energy-intensive proof-of-work puzzles, the system uses lighter cryptographic operations (hash verification, digital signatures, and counter validation) that consume significantly less energy while maintaining transaction validity and security.
Solution Approach 2:
The patent replaces the mechanical proof-of-work system with a different validation mechanism based on cryptographic digests and node consensus. This substitution eliminates the need for energy-intensive mining while preserving the security guarantees through distributed verification and mathematical cryptography.
3Reliability
If multiple blocks must be mined before transaction validation, then transaction security is improved, but transaction validation time increases
Solution Approach 1:
The system performs preliminary validation actions immediately when a transaction is received, verifying counters, digests, and signatures before final consensus. This preliminary action eliminates the need to wait for multiple block confirmations, reducing validation time while maintaining security through the distributed verification process.
Solution Approach 2:
The patent implements dynamic validation where nodes can immediately verify transaction information locally and provide rapid confirmation. The system transitions from static multi-block waiting to dynamic immediate verification, allowing transactions to be validated and confirmed much faster while preserving security through the distributed node consensus mechanism.
4Reliability
If a distributed node network is used for transaction processing, then system reliability is improved, but system complexity increases
Solution Approach 1:
The patent implements a universal node design where each node performs multiple functions: verifying transaction information, validating counters, checking digests, and participating in consensus. This multi-functionality at the node level simplifies the overall system architecture compared to having specialized components, while maintaining high reliability through distributed participation.
Data Source
AI summary
Method for performing an electronic transaction, comprising the steps: a) a first user client (110) digitally sending to a first node (150) transaction information, comprising a first user predictable transaction counter, which is unique for the combination of the first user and the electronic transaction in question; and a user transaction state digest, which is the output of a one-way function calculated based on previous electronic transactions registered in relation to the first user; b) the first node (150) affirming the transaction information; c) the first node (150) digitally communicating the transaction information to additional nodes (160,170) on an electronic transaction network of such nodes; d) at least one of said additional nodes (160,170) affirming the transaction information; e) verifying that at least a predetermined number of nodes have affirmed the trans-action information; and f) registering a transaction based upon said transaction information and digitally disseminating information to all nodes (150,160,170) on said network regarding positive affirmation status of at least said predetermined number of nodes.