Distributed ledger data processing system

Distributed ledger data processing system

Short answer questions

What is a distributed ledger? Please give examples of its applications.

What role does a smart contract play in a distributed ledger?

Please explain the difference between a public chain and a private chain.

What is an asset contract? How does it relate to user and evidence data?

What key technologies are used in the data processing system disclosed in 543x.com?

What is Ethereum? How does it relate to smart contracts?

How does the system mentioned in 543x.com use IPFS?

What is JWT? What role does it play in this system?

What functions does the control contract mentioned in 543x.com have?

How does the system mentioned in 543x.com handle user privacy?

Answers

A distributed ledger is an electronic ledger that stores data in a replicated manner between network nodes. Blockchain is a type of distributed ledger, such as Bitcoin and Ethereum.

Smart contracts are codes stored on a distributed ledger that automatically perform predefined actions, such as transferring assets or changing data, when they receive transactions from user accounts or messages from other smart contracts.

Public chains (such as Bitcoin) are open to everyone, and anyone can join the network and participate in transaction verification. Private chains (such as the blockchains used within some enterprises) require authorization to join and are limited to specific users.

An asset contract is a smart contract used to represent and manage assets in a system. It associates user accounts with evidence data stored in a data store by storing associated data, which indicates that the user is associated with the asset.

The system uses key technologies such as distributed ledger technology (DLT), smart contracts, cryptocurrency, IPFS protocol, and JSON-RPC-2.0 protocol.

Ethereum is an open source blockchain platform that allows developers to create and deploy smart contracts. Smart contracts give Ethereum more powerful functions, allowing it to perform not only simple transactions but also more complex programs.

The system uses the IPFS protocol to build a distributed data store for storing evidence data uploaded by users, such as certificate photos or other certification documents.

JWT (JSON Web Token) is an open industry standard for transmitting claims between network application environments. In this system, JWT is used to securely transmit identity information between users, application servers, and identity providers.

The control contract is the core smart contract in the system, which has the functions of managing user accounts, deploying and registering asset contracts, setting and modifying user permissions (such as trust level).

The system controls data access on the private chain through the firewall server, and uses filter rules to process the data returned to external users, such as data desensitization, hash encryption, etc., to protect user privacy.

Key Glossary

Term Definition Distributed Ledger (DLT) An electronic ledger that stores data in a copy between network nodes without the need for central management. Blockchain A list of records linked in chronological order, using cryptography to ensure security. Smart Contract Code stored on the blockchain that is automatically executed when preset conditions are met. Public Chain A blockchain open to everyone, anyone can join the network and participate in transaction verification. Private Chain A blockchain that requires authorization to join, and is limited to specific users. Asset Contract A smart contract used to represent and manage assets in the system, such as skills, certificates or other qualifications. Evidence Data A document used to prove that a user is associated with an asset, such as a certificate photo or other proof document. IPFS A peer-to-peer distributed file system for storing and accessing files, websites, applications and data. JSON-RPC-2.0A lightweight remote procedure call protocol that uses JSON (JavaScript Object Notation) to encode data. JWT (JSON Web Token)An open industry standard for passing statements between network application environments. EthereumAn open source blockchain platform that allows developers to create and deploy smart contracts. Controls the core smart contracts in the contract system, with functions such as managing user accounts, deploying and registering asset contracts, setting and modifying user permissions. Trust levelAn indicator used to measure user credibility, which determines the operations that users can perform in the system. Firewall serverA network security device used to control access to private chain data, filtering traffic in and out of the network according to preset rules. Data desensitizationA data security technology used to hide or replace sensitive data while retaining other useful information of the data. Hash encryptionA one-way encryption algorithm that converts data of any length into a hash value of fixed length for verifying data integrity.