Blockchain Transaction Tracking Study Guide

Blockchain Transaction Tracking Study Guide

Glossary

Term Definitions Blockchain A distributed database that uses cryptography to record and verify transactions and ensures data security and immutability. Cryptocurrency A digital or virtual currency that uses cryptography to secure transactions and control currency creation. Bitcoin A decentralized cryptocurrency that does not rely on any central bank or single administrator. Transaction A transfer of value on a blockchain network, such as a payment or transfer. Block A unit of record containing a certain number of transactions that is added to the blockchain. OP_RETURN An opcode in a Bitcoin transaction script that allows users to embed small amounts of data into a transaction output. Script Operator An instruction in a Bitcoin transaction script that defines the execution conditions of a transaction. Hash An algorithm that converts data of arbitrary length into a fixed-length string, used to verify data integrity. Metadata Data that describes data, such as creation date, author, or file size. Peer-to-peer Network A decentralized network architecture in which each node has the same functionality and can communicate directly with other nodes. Mining The process of verifying and adding new blocks to the blockchain, where miners are rewarded by solving complex mathematical problems. Short Answer Questions

Briefly describe the core concepts of blockchain technology.

Blockchain is a distributed ledger technology that uses cryptography to ensure data security and immutability. All transactions are recorded in blocks and linked together through hash functions to form an unchangeable chain.

Explain the role of the OP_RETURN script opcode in Bitcoin transactions.

OP_RETURN allows users to embed small amounts of data into transaction outputs, which are recorded on the blockchain but are not interpreted or executed by Bitcoin scripts.

How can merchants use blockchain technology to track customer purchases?

Merchants can embed unique identifiers, such as coupon codes or user IDs, in the OP_RETURN field of a transaction. When customers pay with cryptocurrency, merchants can track these identifiers and associate transactions with specific customers.

How can merchants protect customer privacy when using blockchain technology for customer behavior analysis?

Merchants can use hash functions to encrypt customer identifiers and only store hash values ​​on the blockchain. This prevents unauthorized third parties from obtaining the customer's real identity information.

Briefly describe the process by which merchants embed coupon codes into blockchain transactions to track customer behavior.

Merchants generate unique coupon codes and associate them with customer information; merchants include the coupon code in payment requests sent to customers; when customers pay with cryptocurrency, they embed the coupon code into the OP_RETURN field of the transaction; after receiving the payment, merchants can track the code and associate the transaction with a specific customer.

When customers pay with cryptocurrency, how do they choose whether to accept coupons or offers from merchants?

Merchants will inform customers in payment requests to embed coupon codes into transaction information, and customers can choose whether to follow the instructions. If customers choose not to embed the code, they refuse to accept the offer.

Data on the blockchain is visible to everyone, how can merchants ensure the security of customer information embedded in transactions?

Merchants can use encryption technology to encrypt customer information, and only authorized parties with decryption keys can access and understand this information.

How can merchants use blockchain technology to analyze customer behavior patterns and make predictions?

Merchants can collect and analyze transaction data on the blockchain, such as purchase time, location, product type, and amount. By analyzing this data, merchants can identify customer behavior patterns and predict future purchases.

In addition to coupon codes, what other information can merchants embed into blockchain transactions to track customer behavior?

Merchants can also embed user ID, transaction timestamp, product ID, store ID and other information to more fully understand the customer's behavior trajectory.

Briefly describe the application prospects of blockchain technology in customer relationship management (CRM).

Blockchain technology can help companies build a more secure, transparent and trustworthy customer relationship management system. By storing customer information and transaction records on the blockchain, companies can better understand customer needs, provide more personalized services, and improve customer satisfaction.

Paper title

Explore the advantages and challenges of blockchain technology for customer behavior analysis in the field of e-commerce.

Analyze how merchants can use blockchain technology to achieve personalized marketing and evaluate its impact on customer privacy.

Compare the advantages and disadvantages of traditional customer relationship management systems and blockchain-based customer relationship management systems.

Design a blockchain-based system for tracking and rewarding customers for brand loyalty.

Explore the application of blockchain technology in anti-counterfeiting and traceability, as well as its impact on the development of the e-commerce industry.