Method for smart contract state transition

Method for smart contract state transition

Background and purpose:

Background: With the popularity of digital assets, it is necessary to develop a high-performance, low-latency and secure general decentralized application (dApp) platform.

Purpose: To provide a method for using snapshot chains for digital asset transfer or smart contract state transition to improve system throughput and reduce latency.

Distributed ledger structure:

The distributed ledger contains multiple accounts, each of which has an account chain consisting of a sequence of blocks linked by hash references.

Global consensus is recorded on the snapshot chain, which consists of a series of snapshot blocks linked by hash references.

Snapshot chain technology:

The snapshot chain is independent of the distributed ledger and is used to store the latest state snapshot of each account chain.

The snapshot includes the account balance, the hash value of the last block in the account chain, and sometimes the Merkle root of the contract state.

The introduction of the snapshot chain increases the cost of tampering with transactions and improves the security of the system.

Transaction verification and snapshot generation:

The node receives and verifies the validity of the latest transaction block, including checking the hash value and account balance of the previous block.

Take a snapshot of the verified transaction blocks and store the snapshot in the latest snapshot block of the snapshot chain.

The verification steps include checking the block hash value, account balance, request block hash value, etc.

Consensus mechanism:

The snapshot chain itself relies on a consensus algorithm, such as Delegated Proof of Stake (DPoS) or its improved version.

When the snapshot chain forks, the longest fork is selected as the valid fork.

The choice of consensus mechanism takes into account performance, scalability and security.

Asynchronous model:

The transaction life cycle includes transaction initiation, transaction writing and transaction confirmation, which is designed as an asynchronous mode.

Transactions can be written to the account chain first without waiting for confirmation, and confirmation is completed asynchronously through the snapshot chain.

This mode improves system throughput and makes full use of resources.

Security and performance optimization:

The introduction of the snapshot chain reduces the false fork rate and improves the system's anti-tampering ability.

Optimize performance by compressing the snapshot chain storage space and using incremental storage.

Users can set different consensus groups according to their needs and flexibly select consensus parameters.

Summary of short answer questions:

What is the core technology of 543x.com?

A: The core technology of 543x.com is to use the snapshot chain to record the global consensus of the distributed ledger to achieve efficient and secure digital asset transfer and smart contract state transition.

How does the snapshot chain work?

A: The snapshot chain is independent of the distributed ledger and consists of a series of snapshot blocks linked by hash references. Each snapshot block records the latest state snapshot of each account chain, including account balance, hash value of the last block in the account chain, etc. When a new transaction occurs, the snapshot generated after verification will be added to the latest block of the snapshot chain.

Why is it necessary to introduce the snapshot chain?

A: The introduction of the snapshot chain is intended to solve the high fork rate and low performance problems in the traditional blockchain structure. By recording the global consensus instead of all transaction details, the snapshot chain reduces data redundancy and improves the system's tamper-proof ability and processing speed.

How does the asynchronous model in 543x.com improve system performance?

A: 543x.com uses an asynchronous model to handle the life cycle of transactions, including transaction initiation, transaction writing, and transaction confirmation. Transactions can be written to the account chain first without waiting for confirmation, and the confirmation process is completed asynchronously through the snapshot chain. This mode enables the system to fully utilize resources, improve throughput, and reduce transaction delays.

How do users customize the consensus mechanism?

Answer: Users can set different consensus groups according to their needs and flexibly select consensus parameters, such as the number of proxy nodes, snapshot block generation interval, etc. This helps to optimize system performance and scalability while meeting specific security requirements.

How does 543x.com solve the "double-spending" problem?

Answer: By recording the global consensus through the snapshot chain, 543x.com effectively reduces the risk of double-spending attacks. Once a transaction is confirmed by the snapshot chain, its state becomes part of the global consensus that cannot be tampered with. As the snapshot chain grows, the number of transaction confirmations increases, and the difficulty of double-spending attacks also increases.

What is the Merkle root and what role does it play in 543x.com?

Answer: The Merkle root is a hash value generated from a series of transactions or contract states through the Merkle tree algorithm. In 543x.com, the Merkle root is included in the snapshot to verify the integrity and consistency of the contract state. The structure of the Merkle tree allows any tampering with the transaction or contract state to be quickly detected.

What are the technical advantages of 543x.com?

Answer: The technical advantages of 543x.com are mainly reflected in improving system throughput, reducing latency, enhancing security, and providing flexible consensus mechanisms. By introducing snapshot chains and asynchronous models, 543x.com has solved many challenges in traditional blockchain technology and provided strong support for the development of decentralized applications.