Relational Distributed Ledger for Smart Contract Composition
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Solution Overview
Problem
Current blockchain systems lack efficient mechanisms for composing and executing smart contracts, which are complex agreements between multiple parties, due to limitations in data structure management and transactional ledgers.
Innovation Solution
A relational distributed ledger is used to compose smart contract templates by identifying and combining registered components such as counterparties, schemas, and contract cryptlets, allowing for negotiation and deployment of smart contracts on a transactional ledger, enabling real-time contractual risk management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional blockchain systems are used for smart contracts, then security and decentralization are maintained, but efficiency and scalability are limited due to lack of relational data structure management
Solution Approach 1:
The patent segments the blockchain system into two distinct layers: a relational distributed ledger for efficient data structure management and composition of smart contract templates, and a transactional ledger for secure execution. This segmentation allows each layer to optimize for its specific function, improving overall productivity while managing complexity through clear separation of concerns.
Solution Approach 2:
The patent introduces a relational distributed ledger as an intermediary layer between the traditional blockchain and smart contract execution. This intermediary provides relational data structure management capabilities, enabling efficient composition and validation of smart contract templates before deployment to the transactional ledger, thus improving execution efficiency without compromising security.
2Adaptability or versatility
If complex smart contracts with multiple parties are implemented, then functional versatility is improved, but system complexity and difficulty of management increase
Solution Approach 1:
The patent segments smart contract components into distinct registered entities (counterparties, schemas, contract cryptlets) that can be independently managed and combined. This segmentation allows complex multi-party contracts to be constructed from modular components, improving versatility while reducing composition complexity through standardized building blocks.
Solution Approach 2:
The patent implements preliminary registration and validation of smart contract components (counterparties, schemas, cryptlets) in the relational distributed ledger before they are used in actual contracts. This preliminary action ensures that all components are verified and properly structured beforehand, reducing management complexity during contract execution and deployment.
3Measurement precision
If real-time contractual risk assessment is enabled, then measurement precision is improved, but computational requirements and system resource usage increase
Solution Approach 1:
The patent performs preliminary validation and structuring of smart contract templates in the relational distributed ledger before deployment. By pre-validating contract components, schemas, and relationships, the system enables more efficient real-time risk assessment during execution, improving measurement precision while reducing computational overhead during actual contract operations.
Data Source
AI summary
Data structures stored on a distributed ledger are accessed. The data structures identify registered smart contract components that include counterparties, schemas, and contract cryptlet. A first template smart contract data structure for a first smart contract is composed on the distributed ledger such that the first template smart contract data structure is a relational data structure that includes an identifier for the first smart contract, an identifier for at least two counterparties, an identifier for at least one schema, and an identifier for at least one contract cryptlet. A first smart contract ledger instance associated with the first ledger instance is caused to be deployed, such that the first smart contract ledger instance is based on the first template smart contract data structure. The first smart contract is caused to begin execution, such that the first smart contract is based on the first template smart contract data structure.