Blockchain Protocol for Distributed Systems

Blockchain Protocol for Distributed Systems

1. Background and Purpose:

- This document relates to a method for implementing a blockchain protocol and smart contracts for distributed systems.

- The purpose is to manage and verify transactions and identity authentication of digital assets through blockchain technology and smart contracts.

2. System Composition:

- It includes a decentralized public permissioned online platform for e-commerce of secure digital assets.

- Blockchain protocols and smart contracts are used to manage these digital assets.

- A decentralized oracle network is used as an external source of truth.

3. Functions and Features:

- Secure digital assets can be digital assets such as live event tickets and correspond to specific live events.

- An external source of truth is used to authenticate the interaction between a third party and the platform, and the authentication information is transmitted to the blockchain to complete the transaction.

- The system includes an identity authentication module and a payment authentication module, which are used to authenticate identity and payment transactions, respectively.

4. Smart Contract and Blockchain Structure:

- Smart contracts are stored on a decentralized second-layer sidechain and connected to the main blockchain through a transfer gateway.

- The main blockchain uses the Proof of Work (PoW) algorithm, and the sidechain uses the Proof of Stake (PoS) algorithm.

- Blockchain transactions are first processed on the sidechain and subsequently on the main blockchain.

5. Specific applications:

- Rules are configured by third-party ticket issuers, encoded and deployed in smart contracts.

- Online platforms enforce smart contract rules on the blockchain.

Short answer questions

1. What is the main goal of the document?

- The main goal of the document is to manage and verify transactions and identity authentication of digital assets through blockchain technology and smart contracts.

2. How does the system manage secure digital assets?

- The system manages secure digital assets through blockchain protocols and smart contracts, which are managed by a decentralized public permissioned online platform.

3. What is the role of external sources of truth?

- External sources of truth (such as decentralized oracle networks) are used to authenticate interactions between third parties and the platform, and transmit verification information to the blockchain to complete transactions.

4. How does the system authenticate identities and payment transactions?

- The system includes an identity authentication module and a payment authentication module, which utilize external sources of truth to authenticate identities and payment transactions, respectively.

5. On which blockchain are smart contracts stored?

- Smart contracts are stored on a decentralized second-layer sidechain, connected to the main blockchain through a transfer gateway.

6. What is the blockchain structure of this system?

- The system includes a main blockchain and a decentralized second-layer sidechain. The main blockchain uses the proof-of-work (PoW) algorithm, and the sidechain uses the proof-of-stake (PoS) algorithm.