Research Guide for Blockchain Systems by Transaction Volume

Research Guide for Blockchain Systems by Transaction Volume

Glossary

Term DefinitionsBlockchain SystemA distributed database that uses cryptography to maintain a growing list of transaction records (called blocks)TransactionAny transfer of value or data operation that occurs in a blockchain networkBlockA data structure containing a collection of verified transactions that are added to the blockchainBlock ProducerA node responsible for creating new blocks and adding them to the blockchainTransaction VotingIn this context, information about block producers included in a transactionTransaction FeeA fee paid by a user for processing and adding a transaction to the blockchainWeightA value proportional to the transaction fee that is used to prioritize transactionsProof of Stake (PoS)A blockchain consensus mechanism in which users with more cryptocurrency are more likely to be selected to validate and add new blocksProof of Work (PoW)A blockchain consensus mechanism in which nodes are required to solve complex mathematical problems in order to add new blocksByzantine Fault Tolerance (BFT) A property that ensures the normal operation of the system even if some nodes fail or behave maliciously Proof of Transaction Volume Node Pool (PoT Node Pool) A pool containing nodes that obtain a large number of transactions, which are eligible to become block producers Seed Trust Node Pool A pool containing nodes that are considered trustworthy and can be selected as block producers even if their transaction volume is low Top Trust Account An account held by a highly trusted entity in the blockchain ecosystem that can influence the Seed Trust Node Pool Block Time The time interval between the creation of two consecutive blocks Block Finality The point in time when a transaction is considered final and cannot be reversed Block Confirmation The process by which a block producer verifies a block and adds it to the blockchain Proof of Stake (DPoS) A blockchain consensus mechanism in which users vote for representatives to verify and add new blocks Short Answer Question

How is the blockchain system proposed in this invention different from the traditional PoW or PoS system?

The blockchain system proposed in this invention is based on Proof of Transaction Volume (PoT), not PoW or PoS. This means that nodes that obtain more transactions are more likely to be selected as block producers and receive block rewards.

What is "transaction voting"? What role does it play in this invention?

"Transaction vote" refers to the information about block producers contained in a transaction. In the present invention, each transaction contains a vote pointing to the address of the block producer. The blockchain system counts the number of votes each block producer receives and selects the node with the most votes as the next block producer.

Explain the concept of "weight" and its role in the present invention.

"Weight" is a value proportional to the transaction fee. The higher the transaction fee, the greater the weight. In the present invention, the weight of each transaction is added to the total weight of the account that generated the transaction. The higher the total weight of the account, the higher the probability that its transaction will be packaged first.

What is the difference between the PoT node pool and the seed trust node pool?

The PoT node pool contains nodes that receive a large number of transactions and are eligible to become block producers. The seed trust node pool contains nodes that are considered trustworthy and can be selected as block producers even if their transaction volume is low.

How do top-level trust accounts affect the operation of the blockchain system?

Top-level trust accounts can affect the selection of nodes in the seed trust node pool. They can recommend or remove nodes and affect the proportion of transaction fees allocated to each node.

Describe the process of block generation in the present invention.

Each node collects transactions and adds them to its own transaction pool.

Nodes sort transactions according to transaction fees and weights.

In each time period (for example, every 3 seconds), the system selects a node from the PoT node pool and the seed trust node pool as a block producer.

The block producer packages the collected transactions into a new block and broadcasts it to the network.

Other nodes verify the new block and add it to their own copies of the blockchain.

How does the present invention ensure the security of the blockchain?

The present invention uses the BFT algorithm to ensure the security of the blockchain. The BFT algorithm can tolerate a certain number of malicious nodes and ensure that the system can operate normally even if some nodes fail or behave maliciously.

What is block finality? How does the present invention achieve fast block finality?

Block finality refers to the point in time when a transaction is considered final and cannot be reversed. The present invention achieves fast block finality by using the BFT algorithm and short block time.

Explain the concept of "block confirmation" in the present invention.

"Block confirmation" refers to the process by which a block producer verifies a block and adds it to the blockchain. In the present invention, each block producer receives block confirmation messages from other block producers. When a block receives confirmation from more than 2/3 of the block producers, it is considered to be finally confirmed.

What are the potential application scenarios of the blockchain system proposed in the present invention?

The blockchain system proposed in the present invention can be applied to various scenarios that require secure, transparent and efficient transaction processing, such as: - Supply chain management - Digital identity - Voting system - Internet of Things

Thesis title

Compare and contrast the advantages and disadvantages of blockchain systems based on proof of transaction (PoT) with traditional PoW and PoS systems.

Analyze the BFT algorithm proposed in the present invention and evaluate its performance and security under different network conditions.

Discuss the role and potential risks of top-level trust accounts in decentralized blockchain systems.

Explore the feasibility and challenges of the blockchain system proposed in the present invention in real-world applications.

Design a mechanism to prevent malicious actors from manipulating the proof of transaction mechanism in the present invention.