Smart Protocol Development Platform for Blockchain Accessibility
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Solution Overview
Problem
Existing blockchain platforms require users to have programming skills and understanding of complex protocol construction to develop and execute smart protocols, limiting their accessibility to a wider user base. Additionally, issues with establishing correct exit points and handling failures, such as website downtime, can lead to unfair distribution of collateral.
Innovation Solution
A smart protocol development platform that abstracts complex programming language functionalities, providing a user-friendly interface for creating, validating, and executing smart protocols without requiring programming knowledge. The platform includes features for fair execution, backup query mechanisms, and autonomous execution to ensure fair benefit distribution even in adversarial scenarios.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users are required to have programming skills and understand complex protocol construction to develop smart protocols, then the smart protocol can be executed with full functionality and security, but the accessibility and ease of use are reduced
Solution Approach 1:
The patent introduces a smart protocol development platform that acts as an intermediary between users and the blockchain system. This platform provides a user-friendly interface that automatically generates, validates, and deploys smart protocols, eliminating the need for users to directly interact with complex programming languages and blockchain complexities while maintaining execution reliability through automated validation and security checks
2Reliability
If the smart protocol requires independent logic validation and syntax correctness checking by parties, then the security and correctness are improved, but the complexity and time required for protocol development increase
Solution Approach 1:
The patent implements preliminary validation actions by the development platform before protocol deployment. The platform automatically performs syntax correctness checking, logic validation, and security analysis in advance, ensuring that protocols meet required standards before being deployed to the blockchain. This eliminates the need for parties to independently conduct time-consuming validation processes while maintaining protocol correctness
3Reliability
If the smart protocol enables cancellation of electronic exchanges and return of collateral in case of failure, then the security and fairness are improved, but the complexity of protocol execution increases
Solution Approach 1:
The patent implements self-service mechanisms where the smart protocol automatically handles failure scenarios without requiring manual intervention. The platform includes built-in mechanisms that automatically detect failures, cancel electronic exchanges, and return collateral to respective parties according to predefined conditions. This automated self-service approach maintains security and fairness while reducing the operational complexity compared to manual failure handling processes
Data Source
AI summary
A method for generating a smart protocol includes providing, by a server computer system, a user interface to one or more of a plurality of users. The server computer system may receive, via the user interface, input specifying terms corresponding to a smart protocol that is to be deployed on a particular blockchain platform. The specified terms may include the plurality of users associated with the smart protocol and a web resource to be used to identify one or more external data. An execution of the smart protocol may be based on a value of the external data. Based on the specified terms, the server computer system may generate, without further input from the plurality of users, the smart protocol. The server computer system may deploy the smart protocol to the particular blockchain platform.