Distributed Computing Systems and Blockchain Protocols

Distributed Computing Systems and Blockchain Protocols

1. Distributed Computing Systems and Blockchain Protocols:

- Contains a decentralized public platform for secure digital asset e-commerce, using blockchain protocols and smart contracts to manage these assets.

- The external source of truth is a decentralized oracle network that verifies transactions and identity authentication on the platform.

2. Identity and Payment Verification Module:

- Verify the identity and payment transactions of third parties using external sources of truth.

- Smart contracts are deployed on the blockchain, and the execution rules are enforced by the online platform.

3. Blockchain Structure:

- Contains the main blockchain and decentralized second-layer sidechains, which are connected to the main blockchain through transfer gateways.

- Verification is performed using proof-of-work and proof-of-stake algorithms.

1. Blockchain and Distributed Ledger Technology:

- Blockchain, as a distributed ledger, consists of multiple geographically dispersed nodes, and ensures data replication and synchronization through consensus algorithms.

- Decentralized consensus makes blockchain suitable for recording events, medical records, insurance records, etc.

2. P2P network:

- Each node is treated equally in the P2P network, both as a resource supplier and a consumer.

- Blockchain ensures data security through P2P network management, data irreversibility and tamper-proof characteristics.

3. Smart contracts and consensus protocols:

- Use smart contracts to execute transactions on the blockchain and select appropriate consensus protocols to verify new blocks or transactions.

- Select consensus protocols based on transaction type or other factors, and use machine learning to optimize the selection of nodes to participate in consensus.

Short answer questions

1. How are blockchain protocols and smart contracts applied in e-commerce platforms?

- Blockchain protocols and smart contracts are used to manage secure digital assets on the platform, verify transactions and identities through decentralized oracle networks, and ensure the security and authenticity of transactions

2. What is a decentralized oracle network and what is its role?

- The decentralized oracle network is an external source of truth used to verify interactions and transactions on the platform, including identity authentication and payment verification

3. What is the role of the P2P network in the blockchain system?

- The P2P network makes each node both a supplier and a consumer of resources, ensuring the consistency and security of data through consensus algorithms, and safeguarding the decentralization and tamper-proof characteristics of blockchain

4. What are smart contracts and what is their role in blockchain?

- Smart contracts are automatically executed contracts stored on the blockchain for managing and enforcing transaction rules. Smart contracts verify and record transactions by selecting appropriate consensus protocols to ensure the legitimacy and security of transactions