Topic: Distributed Systems, Blockchain Protocols, Smart Contracts

Topic: Distributed Systems, Blockchain Protocols, Smart Contracts

System Composition:

A decentralized public permissioned online platform for secure digital assets for e-commerce.

Blockchain protocols and smart contracts manage these secure digital assets.

An external source of authenticity (such as a decentralized oracle network)

Functional Modules:

Authentication Module: Verify third-party identities using external sources of authenticity.

Payment Verification Module: Verify payment transactions using external sources of authenticity

Application Scenarios:

Live Event Ticketing: Manage ticket information and rules for specific events through smart contracts and deploy them on the blockchain

Blockchain Architecture:

The main blockchain and decentralized layer 2 sidechains (using different authentication algorithms) are connected through a transmission gateway

Consensus Algorithm:

The main blockchain uses the Proof of Work (PoW) algorithm.

The layer 2 sidechain uses the Proof of Stake (PoS) algorithm

Topics: Distributed Ledger Technology (DLT), Smart Contracts, Consensus Protocols

System Description:

A blockchain system using a P2P network ensures data replication and synchronization between nodes through a consensus algorithm.

Blockchain Features:

Data cannot be tampered with and is permanently stored.

Suitable for recording events, medical records, insurance records, identity management, transaction processing, etc.

Smart contract implementation:

Use the distributed ledger technology platform to select a consensus protocol to verify and add new blocks or transactions.

Computing architecture:

The system includes components such as processors, main memory, secondary storage, etc., and supports functions such as blockchain service interfaces, consensus managers, and block validators.

Consensus participating node selection:

Use rule sets or machine learning algorithms to select nodes participating in consensus based on factors such as node computing resources and historical performance.

Short answer questions

What is a blockchain protocol?

The blockchain protocol is a distributed ledger technology used to manage and record digital transactions. It ensures the replication and synchronization of data between multiple nodes through a consensus algorithm. Once the data is recorded on the blockchain, it cannot be tampered with.

What is the role of smart contracts in blockchain?

Smart contracts are automatically executed contracts that operate based on preset conditions to ensure the automation and trustlessness of transactions. They are usually deployed on blockchains to ensure the execution and transparency of contract terms.

What are the main application scenarios described?

The main application scenario described in the document is live event ticketing management, which manages ticket information and rules for specific events through smart contracts and is deployed on the blockchain for management and verification.

How to select nodes to participate in the consensus protocol?

Use rule sets or machine learning algorithms to select nodes to participate in the consensus based on factors such as the node's computing resources and historical performance. These factors can be considered in parallel, sequentially, or hierarchically.