Time-Dependent Token Valuation in Distributed Ledgers
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Solution Overview
Problem
Distributed ledgers face challenges in managing time-dependent rewards and data access costs, as the value of information/data changes over time due to factors like timeliness and depreciation policies, requiring a system to efficiently validate and reward submissions while ensuring access is based on current values.
Innovation Solution
Implementing a distributed ledger system that uses time-dependent tokens for rewarding submissions and accessing information, where tokens are generated and valued based on the remaining time to live and depreciation protocols, allowing for dynamic value attribution and redemption upon access.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If time-dependent tokens are used to reward submissions and access data, then the system can accurately value time-sensitive information and encourage timely submissions, but the system complexity increases due to depreciation protocols and dynamic value attribution
Solution Approach 1:
The patent implements dynamic token valuation where the value of tokens changes over time based on depreciation protocols. The system automatically adjusts token values according to time-to-live parameters and depreciation rates, enabling accurate time-dependent valuation without manual intervention. This dynamic approach resolves the contradiction by automating the complex valuation process while maintaining reliability.
Solution Approach 2:
The distributed ledger system performs self-valuation of tokens based on embedded depreciation protocols and time-to-live parameters. Each token carries its own valuation logic, allowing the system to automatically determine current values without external intervention. This self-service mechanism reduces operational complexity while maintaining accurate time-dependent valuation.
2Productivity
If data is made accessible via distributed ledger with time-dependent valuation, then data availability and timeliness are improved, but the system requires complex validation and periodic resubmission mechanisms
Solution Approach 1:
The patent implements preliminary validation where data is validated and assigned time-to-live parameters before being posted to the distributed ledger. This upfront validation reduces the need for complex periodic validation mechanisms, as the data's validity period is predetermined and automatically tracked by the system.
Solution Approach 2:
The system implements automatic feedback mechanisms where the distributed ledger continuously monitors token values and data validity periods. When tokens approach expiration or data requires validation, the system automatically triggers appropriate actions, reducing manual intervention complexity while maintaining high data access efficiency.
3Productivity
If tokens are awarded immediately upon submission, then member incentive and submission speed are improved, but token value stability deteriorates due to time-dependent depreciation
Solution Approach 1:
The patent implements dynamic token valuation with automatic depreciation based on time-to-live parameters. Tokens are awarded immediately to maintain submission speed, but their value automatically adjusts over time according to predefined depreciation protocols. This resolves the contradiction by accepting dynamic value changes as a feature rather than a bug, maintaining both submission incentive and systematic value stability.
Solution Approach 2:
The system changes token value parameters over time based on depreciation rates and time-to-live parameters. When tokens are first awarded, they have maximum value, and this value systematically decreases over time according to predetermined schedules. This parameter change approach maintains submission speed while providing predictable, stable valuation rules that prevent arbitrary value fluctuations.
Data Source
AI summary
A technical solution for providing data associated with a predetermined, finite lifetime for access via a distributed ledger is provided. A member computing entity receives a submission provided by a supplying member computing entity associated with a supplying member of a distributed ledger; generates a token and attributing the token to a member account corresponding to the supplying member; attributes a value to the token; and makes the submitted instance of data available for access via the distributed ledger. The submission comprises a submitted instance of data. The submitted instance of data (a) is configured to be provided to a consuming member computing entity via the distributed ledger and (b) is associated with a predetermined lifetime. The value of the token changes with time based on (a) a remaining lifetime of the submitted instance of data, (b) a depreciation policy/protocol corresponding to the distributed ledger, or (c) both.