Trust Network for Blockchain Transactions Study Guide

Trust Network for Blockchain Transactions Study Guide

Keyword List

Term Definitions Trust Network A decentralized network of nodes used to generate consensus trust scores for cryptocurrency traders. Node A computing device in a trust network that is responsible for acquiring data, calculating trust scores, and participating in the consensus mechanism. Trust Score A numerical value that represents the likelihood that a blockchain address is involved in fraudulent activity. Local Trust Score A trust score independently calculated by a node based on the data it acquires. Candidate Trust Score A trust score calculated by a node based on local trust scores received from other nodes. Consensus Trust Score A final trust score calculated based on multiple candidate trust scores, representing the network's consensus on the trustworthiness of the target address. Consensus Trust Score Ledger A distributed ledger that stores the consensus trust scores of all blockchain addresses. Blockchain Address A unique identifier used to identify transacting parties in a cryptocurrency network. Trader A party that controls a blockchain address transaction, which can be an individual or an organization. Sending Address A blockchain address that sends funds to another blockchain address. Receiving Address A blockchain address that receives funds from another blockchain address. Trust Request A request sent by a trader to a trust network to obtain a trust report for a target address. Trust Response A response from the trust network to a trust request, containing the consensus trust score for the target address. The native token used in the UTOKEN trust network is used to pay for trust score queries, reward nodes, and participate in governance. Reputation value is an indicator used to evaluate the contribution and reliability of nodes in the trust network. Staking nodes lock a certain amount of UTOKEN in the network to obtain the right to perform specific functions and punish malicious behavior. The reward protocol uses the mechanism of UTOKEN rewarding nodes based on the contribution and reputation value of the node. Smart contract is a code protocol stored on the blockchain and automatically executed under certain conditions. Short answer question

What is a trust network and what role does it play in cryptocurrency transactions?

The trust network is a decentralized node network designed to provide security for cryptocurrency transactions. It generates a consensus trust score for each blockchain address by analyzing transaction data and external data sources, helping traders evaluate the credibility of the counterparty and reduce transaction risks.

How does the trust network calculate the consensus trust score of a blockchain address?

The calculation of the consensus trust score is a multi-step process: First, each node independently calculates a local trust score based on the data it obtains. Then, the nodes exchange local scores with each other to generate candidate trust scores. Finally, the network reaches a consensus based on multiple candidate scores, generates a final consensus trust score, and records it in the distributed ledger.

What data sources does the trust network use to evaluate the trustworthiness of blockchain addresses?

The trust network uses a variety of data sources to evaluate the trustworthiness of blockchain addresses, including: blockchain transaction data, fraud data (such as blacklists, fraud reports), and custody data (such as KYC/AML information of exchanges and wallets).

What are the uses of UTOKEN in the trust network?

UTOKEN is the native token in the trust network, which is used to: pay for trust score query fees, reward nodes that contribute to the network, participate in network governance, and stake to obtain permissions to perform specific functions.

What is the reputation value of a node and how does it affect the node's benefits in the network?

Reputation value is an indicator used to evaluate the contribution and reliability of a node in a trust network. The higher the reputation value of a node, the more rewards it will receive in the network. The reputation value of a node depends on a variety of factors, such as the quality of its calculated trust score, its enthusiasm for participating in the consensus mechanism, and the reliability of the computing resources it provides.

Why should nodes stake in a trust network?

Nodes staking UTOKEN can obtain the right to perform specific functions, such as participating in the calculation and verification of consensus trust scores, and obtaining higher rewards. Staking also acts as collateral to punish malicious behavior.

How does the trust network prevent Sybil attacks?

Trust networks prevent Sybil attacks through a variety of mechanisms, including: requiring nodes to stake UTOKEN, using reputation systems to evaluate the reliability of nodes, dividing the network into multiple groups to limit the influence of a single node, and using probabilistic models to calculate the probability of a node controlling a specific address.

How are smart contracts used in trust networks?

Smart contracts can be integrated into trust networks to automate trust assessment and transaction execution. For example, smart contracts can automatically decide whether to execute a transaction based on the trust score provided by the trust network, thereby improving the security of the transaction.

How are trust scores updated in trust networks?

Trust scores in trust networks are updated regularly to reflect the latest transaction data and risk status. When new transaction data or fraud information appears, the node recalculates the local trust score and updates the consensus trust score through the consensus mechanism.

How does the trust network ensure the accuracy and reliability of its data?

The trust network ensures the accuracy and reliability of its data through mechanisms such as decentralization, consensus mechanisms, and reputation systems. Multiple nodes independently calculate trust scores and reach consensus through consensus mechanisms, which can effectively prevent data manipulation. The reputation system can incentivize nodes to provide high-quality data and services, thereby improving the overall reliability of the network.