Blockchain event lock encryption method and system

Blockchain event lock encryption method and system

Short answer questions

Briefly describe the verification process of transactions in a blockchain network.

Explain what "membership deposit" is and its use in the system described in this article.

What is the "threshold signature scheme" mentioned in the article? What advantages does it have in managing digital assets?

Describe the steps involved in the "Congress" membership update process.

Explain what "ghost chain" is and its relationship to the "main blockchain".

What role does the arbitrator play in the system described in this article?

Explain the difference between "on-chain events" and "off-chain events".

What is "identity-based encryption"? What role does it play in event lock encryption?

Describe the general steps for event lock decryption using the technology described in this article.

What are the advantages of performing arbitration operations on ghost chains compared to performing arbitration operations on the main blockchain?

Answers to short answer questions

The transaction verification process in a blockchain network includes: nodes verifying transactions, adding them to new blocks built by miners, and finally adding them to the public ledger through the mining process.

"Membership deposit" refers to the digital assets that an entity deposits into the congressional pool in order to join Congress. It can prevent malicious behavior and serve as a constraint mechanism for members of Congress.

The "threshold signature scheme" is a method that allows the sharing of signing power among multiple participants, and only when a threshold number of participants or more provide their key shares can a valid signature be generated. It has the advantages of decentralization, security, and tamper-proof in managing digital assets.

The congressional membership renewal process includes: generating a new key share, transferring all digital assets to a new address associated with the new public key, and ensuring that the key share of the exiting member is deleted.

A "ghost chain" is a temporary, proof-of-stake-based blockchain that branches off from the main blockchain to resolve disputes or perform specific tasks such as event-locked decryption.

In the system described in this article, the arbitrator is responsible for receiving evidence from proposers and objectors, and working with other congressional nodes to resolve disputes, and finally submitting the ruling results back to the main blockchain.

"On-chain events" refer to events that can be confirmed by checking the blockchain, while "off-chain events" refer to events that cannot be directly verified on the blockchain.

"Identity-based encryption" is an encryption method that allows the use of a user's identity information (such as an email address) as a public key. In event-locked encryption, identity-based encryption can be used to encrypt messages so that they can only be decrypted when a specific event occurs.

The general steps for event-locked decryption using the techniques described in this article include: sending the encrypted message, public key, event information, and handling fees to the blockchain network; when Congress reaches a consensus on the occurrence of the event, unfolding the ghost chain; generating a decryption key and decrypting the message.

Performing arbitration operations on the ghost chain is more efficient than performing them on the main blockchain because it utilizes the proof-of-stake mechanism, which can generate blocks faster. In addition, it can also reduce the burden on the main blockchain and reduce the risk of "nothing at stake" attacks.

Essay Questions

Discuss the challenges and opportunities of establishing and maintaining "Congress" in a blockchain network.

Compare and contrast various threshold signature schemes and analyze their applicability in the system described in this article.

Evaluate the advantages and disadvantages of using "ghost chain" for event-locked encryption and explore its potential application scenarios.

Analyze how the event-locked encryption method described in this article resists various security threats, such as "sybil attacks" and "double-spending attacks".

Explore the possibility of applying the techniques described in this article to other fields, such as supply chain management, digital identity, and voting systems.

Key Glossary

Term DefinitionsBlockchainA continuously growing list of records, called blocks, linked and secured using cryptography.Ghost ChainA temporary blockchain that branches off from the main blockchain and is used to resolve disputes or perform specific tasks such as event-locked decryption.Identity-Based EncryptionA type of public key cryptography in which any publicly verifiable identity (such as an email address) can be used as a public key.Event-Locked EncryptionA form of encryption in which data can only be accessed or decrypted when a specific event occurs.Member DepositA digital asset that an entity deposits into the Congress pool in order to join Congress.CongressA type of decentralized autonomous organization (DAO) described in this article that uses a threshold signature scheme to manage digital assets.ConsensusThe process by which nodes in a distributed network reach agreement on a single data value or network state.ArbitratorAn entity responsible for resolving any disputes that arise in "Congress". Threshold Signature SchemeA cryptographic scheme in which any t of a group of n holders can digitally sign a message on behalf of the group.Proof of StakeA blockchain consensus mechanism in which the probability of a person creating and validating a new block is proportional to the number of tokens they own.Proof of WorkA blockchain consensus mechanism that requires nodes in the network to perform a certain amount of computational work to generate a new block.