Smart Contract Calling on Blockchain

Smart Contract Calling on Blockchain

Glossary

Term DefinitionBlockchain is a distributed ledger technology that allows multiple parties to participate in the maintenance of an immutable transaction record database. Smart Contract is a piece of code stored on the blockchain that automatically executes a predetermined operation when predefined conditions are met. Data Digest is a string of characters of fixed length obtained by compressing and encrypting data through a hash algorithm, which can be used to verify the integrity of the data. Third-party Storage System refers to a storage system outside the blockchain system that is used to store data related to smart contracts. Content Addressable Storage (CAS) is a technology that stores and retrieves data based on content rather than address. Consortium Blockchain is a blockchain jointly managed by multiple institutions, and only authorized nodes can participate in transactions and maintain ledgers. Consensus Processing is the process by which all nodes in the blockchain network reach a consensus on the validity of a transaction. Practical Byzantine Fault Tolerance algorithm (PBFT) is a consensus algorithm used to solve the Byzantine Generals' Problem, which can tolerate a certain number of faulty nodes. Transaction Queue A list of transactions waiting to be added to the blockchain. Short answer questions

What is blockchain? How does it relate to smart contracts?

What is the first step in the smart contract call process?

What role does the third-party storage system play in the smart contract call?

How is the data summary used to verify the integrity of the data?

What is the difference between the CAS system and the traditional storage system?

What are the characteristics of the consortium chain?

How to understand "a third-party storage system jointly participated by multiple blockchains"?

How is "data verification" in smart contracts implemented?

How is the execution result of smart contracts stored on the blockchain?

How is the blockchain redundancy mechanism mentioned in this article implemented?

Short answer questions

Blockchain is a distributed ledger technology that allows multiple parties to participate in the maintenance of an immutable database of transaction records. A smart contract is a piece of code stored on the blockchain that automatically executes a predetermined operation when predefined conditions are met. Blockchain provides a secure, transparent and trusted environment for the execution of smart contracts.

The first step in the smart contract call process is to submit a transaction containing the target transaction information to the blockchain network.

The third-party storage system is used to store data related to smart contracts, such as contract code, parameters, execution results, etc. The blockchain system obtains and stores data by interacting with the third-party storage system.

The data summary is a string of fixed-length characters obtained by compressing and encrypting the data through a hash algorithm, which can be used to verify the integrity of the data. If the data is tampered with, its data summary will also change.

The CAS system stores and retrieves data based on content rather than address. In the CAS system, each data block has a unique hash value, by which the data can be retrieved.

The consortium chain is jointly managed by multiple institutions, and only authorized nodes can participate in transactions and maintain ledgers. The consortium chain has higher security and efficiency and is suitable for enterprise-level applications.

"A third-party storage system jointly participated by multiple blockchains" refers to a consortium chain consisting of multiple blockchains, and each blockchain node is connected to the same third-party storage system. This architecture can improve data redundancy and security.

"Data verification" in smart contracts is usually achieved by comparing data summaries. Smart contracts calculate the hash value of data according to a predefined algorithm and compare it with the hash value stored in a third-party storage system.

The execution results of smart contracts are usually stored in the transaction records of the blockchain. Each transaction record contains a status field to record the execution results of the smart contract.

The blockchain redundancy mechanism mentioned in this article is achieved by storing data on multiple blockchain nodes. Even if some nodes fail, the integrity and availability of the data will not be affected.

Essay questions

Try to compare and analyze the advantages and disadvantages of centralized CAS systems and distributed CAS systems in smart contract calls.

How to design an efficient and secure third-party storage system to meet the needs of smart contract calls?

What are the effects of the consensus mechanism in the alliance chain on the execution efficiency and security of smart contracts?

How to achieve data privacy protection in smart contracts?

Explore the application prospects of blockchain technology in the future development of smart contracts.