Smart Contract Digital Ticket Value Determination
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Solution Overview
Problem
Existing electronic trading platforms face pressure due to simultaneous redemption of digital coupons, and there are challenges in ensuring the security and integrity of coupon values, as they can be tampered with and are difficult to track.
Innovation Solution
Implementing smart contracts in a blockchain network to dynamically determine the value of digital tickets based on user-specified rules, such as date and location, allowing for secure, tamper-resistant, and trackable transactions without the need for intermediaries.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If electronic coupons are redeemed simultaneously by consumers, then the redemption process is efficient and convenient, but the system pressure on computer systems increases significantly
Solution Approach 1:
The patent applies dynamics by making coupon values change over time through dynamic expiration mechanisms. Coupons have values that decrease over time or have expiration dates, which incentivizes consumers to redeem them at different times rather than all at once, thereby distributing system load dynamically while maintaining redemption convenience
2Ease of manufacture
If electronic coupon values are stored centrally, then it is easy to manage and update, but the security and integrity of coupon values cannot be ensured against tampering
Solution Approach 1:
The patent applies segmentation by dividing the coupon value management into two parts: the coupon data itself is stored centrally for easy management, while the verification of coupon validity and value is distributed to multiple nodes in the network. This segmentation allows centralized management ease while achieving distributed verification for data integrity and tamper resistance
Solution Approach 2:
The patent introduces cryptographic hash functions and digital signatures as intermediaries between the central storage and the verification process. These intermediaries ensure that coupon values cannot be tampered with while maintaining the ease of centralized management and update capabilities
3Adaptability or versatility
If unauthorized alterations to electronic coupon values occur, then data corruption issues arise, but it is difficult to trace back the unauthorized alternations
Solution Approach 1:
The patent implements feedback mechanisms through cryptographic verification where each node in the network can verify coupon integrity by checking digital signatures and hash values. Any unauthorized alteration immediately fails verification, providing immediate feedback that detects tampering while maintaining data flexibility for legitimate updates
Data Source
AI summary
Disclosed herein are methods, systems, and apparatus, including computer programs encoded on computer storage media, for retrieval of values of digital tickets. One of the methods includes receiving a request from a client device for a current value of a digital ticket by a distributing node. The request includes the digital ticket and one or more value changing rules for determining the current value of the digital ticket. The distributing node retrieves a smart contract from a blockchain network in response to the request from the client device. The smart contract includes the one or more value changing rules for determining the current value of the digital ticket. The distributing node determines the current value of the digital ticket based on an original value of the digital ticket and the one or more value changing rules by executing the smart contract, and associates the current value with the digital ticket.