Study Guide for Blockchain Public Institution Transaction Management System

Study Guide for Blockchain Public Institution Transaction Management System

Quiz

What system does the patent document describe? What problem does the system solve?

What are the main entities involved in the system?

What role does the blockchain play in this system?

What is the "Genesis Block"? What information does it contain?

What are Proof of Work (PoW) and Proof of Stake (PoS)? How are they applied in this system?

What role do third-party entities (third parties) play in this system?

What are "access requests" and "access permissions"? How do they affect the participation of third parties?

What does "mining" mean in this system? Which entities can participate in "mining"?

How to ensure the authenticity and reliability of transactions in this system?

How does the system reward entities that participate in maintaining the blockchain?

Answer

The patent document describes a blockchain-based public institution transaction management system. The system aims to solve the problems of security, transparency and credibility in traditional transaction record systems and prevent data from being tampered with or forged.

The main entities involved in the system include: public institutions, third-party entities, blockchain networks, and blocks that store transaction information.

In this system, blockchain plays the role of a distributed ledger, recording all transaction information and ensuring the security and immutability of data.

The "Genesis Block" is the first block in the blockchain, which contains the initial information of the system, such as timestamps, initial rules, and information about the public institution that created the blockchain.

Proof of Work (PoW) and Proof of Stake (PoS) are two different consensus mechanisms used to determine who has the right to add new blocks to the blockchain. In this system, public institutions can compete to generate new blocks through PoW or PoS mechanisms and record transaction information on the blockchain.

Third-party entities can participate in the maintenance of the blockchain, such as verifying transactions, generating new blocks, etc. They can obtain participation qualifications by providing computing power or staking a certain number of tokens.

"Access request" refers to the application of a third-party entity to a public institution for access to the blockchain, while "access permission" is the certificate granted by the public institution to a third-party entity for access rights. Only after obtaining access permission can a third-party entity participate in the maintenance of the blockchain.

In this system, "mining" refers to the process of generating new blocks by solving complex computing problems and recording transaction information on the blockchain. Both public institutions and licensed third-party entities can participate in "mining".

The system ensures the authenticity and reliability of transactions by using technologies such as encryption algorithms, consensus mechanisms, and distributed storage. Each block is associated with its previous block to form an immutable chain, and any attempt to tamper with the data will be detected immediately.

The system rewards entities that participate in maintaining the blockchain by allocating tokens. For example, entities that successfully generate new blocks will receive a certain number of token rewards, and entities that participate in verifying transactions will also receive corresponding rewards.

Paper title

Discuss the advantages and disadvantages of blockchain-based public institution transaction management systems compared to traditional systems.

Analyze how consensus mechanisms (PoW, PoS, or other) are used in the system to ensure the security and reliability of transactions.

Explore the roles and functions of third-party entities in the system and how to motivate them to participate in the maintenance of the blockchain.

Analyze the challenges that the system may face in practical applications, such as scalability, supervision, and privacy protection.

Assuming that you are the developer of the system, how will you improve the system to improve its performance, security, or other aspects?

Glossary

Term DefinitionsBlockchainA distributed database that records transaction information and ensures data security and immutability. Public institutions refer to government departments, public institutions and other institutions that provide public services. Third-party entities refer to entities other than public institutions that participate in the maintenance of the blockchain, such as enterprises and individuals. Transaction refers to any form of value exchange between public institutions and other entities. BlockThe basic building block of the blockchain, used to store a certain amount of transaction information. Genesis BlockThe first block in the blockchain, containing the initial information of the system. Proof of Work (PoW)A consensus mechanism that selects nodes to generate new blocks by solving complex computational problems. Proof of Stake (PoS)A consensus mechanism that selects nodes to generate new blocks based on the number of tokens held by the node and the time. Access RequestA request from a third-party entity to a public institution for permission to access the blockchain. Access PermissionA certificate that a public institution grants a third-party entity permission to access the blockchain. Mining refers to the process of generating new blocks by solving complex computational problems and recording transaction information on the blockchain. TokenA digital asset used to reward entities that participate in the maintenance of the blockchain. Encryption algorithm is a mathematical method used to protect data security, which can convert information into an unreadable form that can only be decrypted by those who have the key. Consensus mechanism is an algorithm used to ensure that all nodes in a distributed system reach a consensus. Distributed storage is a data storage method that stores data on multiple different nodes instead of storing it in one place.