Temporary Private Blockchain Transaction Termination
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Solution Overview
Problem
Private blockchains face challenges in efficiently managing and terminating transactions due to high computational costs and resource requirements, especially for devices with limited memory or computing resources, and lack established methods for marking the conclusion of series of transactions.
Innovation Solution
A method for creating a temporary private blockchain with specific rules, transmitting updates, and designating it closed based on participant agreement, allowing for faster transaction finalization and absorption into a larger blockchain, using a two-stage negotiation mechanism and consensus among participants.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a private blockchain is used for transaction tracking, then security and immutability are improved, but computational cost and resource requirements increase
Solution Approach 1:
The patent divides the blockchain into temporary segments that can be created, used for transactions, and then terminated. Each temporary blockchain is a segmented portion of the overall system that can be independently managed and disposed of after use, reducing the computational burden of maintaining continuous blockchain operations.
Solution Approach 2:
The patent changes the temporal parameter of blockchain existence by implementing temporary blockchains with defined start and end times. This parameter change allows the system to transition from permanent to temporary blockchain instances, optimizing resource usage by eliminating computational overhead after the blockchain's purpose is fulfilled.
2Loss of information
If blockchain size grows to accommodate more transactions, then transaction history completeness is improved, but storage requirements and processing time increase
Solution Approach 1:
The patent implements a mechanism where temporary blockchains are discarded after their transaction recording purpose is fulfilled. The termination process allows for the recovery and transfer of necessary transaction data to permanent ledgers or other storage systems, eliminating the need to continuously maintain large blockchain sizes for historical records.
3Reliability
If cryptographic verification is performed on each blockchain update, then transaction validity is improved, but computational resources required increase
Solution Approach 1:
The patent implements dynamic blockchain structures that can be created and terminated based on transaction needs. This dynamic approach allows cryptographic verification to be concentrated during the active transaction period rather than continuously maintained, optimizing the balance between validation security and computational resource usage.
4Loss of information
If a public blockchain is used for transaction tracking, then transparency and verification are improved, but speed and cost efficiency deteriorate
Solution Approach 1:
The patent segments transaction tracking into temporary private blockchain instances that can operate independently with faster processing. These segmented temporary blockchains can be created for specific transaction groups and terminated afterward, providing both the speed of private ledgers and the ability to link to public blockchains for transparency when needed.
Data Source
AI summary
A blockchain of transactions may be referenced for various purposes and may be later accessed for ledger verification. One example operation may include one or more of identifying a plurality of rules defining a temporary private blockchain, creating a private blockchain block comprising the plurality of rules defining the temporary private blockchain, transmitting an update to a private blockchain block, and designating the temporary private blockchain closed responsive to receiving the update.