Multi-blockchain digital transaction information isolation system

Multi-blockchain digital transaction information isolation system

Short answer questions

Explain the main issues behind the multi-blockchain transaction information isolation system.

What problems do traditional blockchain systems face?

How does digital transaction information isolation solve the limitations of traditional blockchains?

Describe the main players in the multi-blockchain transaction information isolation system.

What is the relationship between the main blockchain and the auxiliary blockchain?

What role does smart contract play in a multi-blockchain system?

How to control access to isolated information in a multi-blockchain system?

Give an application example of a multi-blockchain transaction information isolation system in the real world.

What are the advantages of isolating information compared to storing all transaction information on a single blockchain?

What is the concept of "nested sidechain"?

Answer

The multi-blockchain transaction information isolation system aims to solve the problems of information disclosure and rapid growth of blockchain size in traditional blockchain systems. By isolating different types of transaction information to different blockchains, privacy can be improved and efficiency can be increased.

Traditional blockchain systems face problems such as open and transparent transaction information, rapid expansion of blockchain size, and limited processing capacity.

Digital transaction information isolation solves the limitations of traditional blockchains by storing different types of information on different blockchains. This approach allows access control for sensitive information and reduces the data load on the main blockchain.

The main participants in a multi-blockchain system include transaction devices (such as user devices), miner devices (maintaining the blockchain), and payment service providers (optional).

The main blockchain and auxiliary blockchains are connected to each other through smart contracts. Transactions on the main blockchain can trigger actions on the auxiliary blockchain, thereby achieving information isolation.

Smart contracts are self-executing codes stored on blockchains. In a multi-blockchain system, smart contracts are used to route transaction information to the corresponding blockchain and manage access to isolated information.

Access to isolated information can be controlled by using tokens, cryptographic keys, or other access control mechanisms. Only authorized participants can access and decrypt information stored on the auxiliary blockchain.

An example of a multi-blockchain transaction information isolation system in the real world is a real estate transaction. Property ownership information can be stored on the main blockchain, while sensitive information such as purchase prices and easements can be stored on a separate auxiliary blockchain that can only be accessed by authorized parties.

Compared with storing all transaction information on a single blockchain, isolating information can improve privacy and security, and reduce the data load on the main blockchain, thereby improving efficiency.

"Nested sidechains" refer to other auxiliary blockchains that branch off from the auxiliary blockchain. This layered structure allows for further isolation of information and customized access controls based on specific use cases.

Paper Title

Compare and contrast the advantages and disadvantages of storing transaction information in a single blockchain and in a multi-blockchain system.

Discuss the role of smart contracts in implementing a multi-blockchain transaction information isolation system.

Analyze different access control mechanisms to protect the security of isolated information in a multi-blockchain system.

Evaluate the potential of a multi-blockchain transaction information isolation system in various fields such as supply chain management, healthcare, or government.

Discuss the challenges and future development directions of adopting a multi-blockchain system for transaction information isolation.

Glossary

Term DefinitionsBlockchainA growing list of records, called blocks, that are linked and secured using cryptography. Smart ContractA self-executing code stored on a blockchain that is executed when predefined conditions are met. Multi-blockchainA system consisting of two or more interconnected blockchains. Transaction Information IsolationThe process of storing different types of transaction information on different blockchains. Primary BlockchainA blockchain that acts as the main reference point in a multi-blockchain system. Secondary BlockchainA blockchain that branches off from the primary blockchain and is used to store specific types of information. Nested SidechainsA secondary blockchain that branches off from a secondary blockchain, creating a hierarchical structure. Transaction DeviceA device that participates in a multi-blockchain system and broadcasts transactions, such as a user device. Miner DeviceA device responsible for validating and adding transactions to a blockchain. Encryption The process of converting information into an unintelligible code that cannot be read without the proper key. Token A digital asset that represents access to a specific asset or service. Distributed ledger A type of database that is shared, replicated, and synchronized by multiple participants in a network. Consensus mechanism A process that allows participants in a distributed network to reach an agreement on the validity of a transaction. Immutability refers to the inability to change or delete data once recorded on the blockchain.