Blockchain Service Processing

Blockchain Service Processing

Glossary

Term DefinitionsService BlockchainA blockchain used to carry various blockchain services, including target services that require asset exchange services as service support.Asset BlockchainA blockchain that can be interconnected with asset service institutions and convert real-world physical assets operated by asset service institutions into virtual assets that can circulate on the blockchain.Asset Service InstitutionAn institution that provides asset exchange services, such as banks, payment institutions, real estate transaction centers, etc.Asset Exchange ServiceA service deployed by an asset service institution to complete asset exchanges between service-related service accounts, such as the "Real Estate Rights Transfer" service, the "Transfer" service, etc.Cross-chain RelayA module used to connect the service blockchain and the asset blockchain to achieve cross-chain data synchronization and smart contract calls.A system that is interconnected with the service blockchain can use the asset exchange voucher stored on the service blockchain as service support to perform further service processing on the target service.Target TransactionA transaction sent by the service system to the service blockchain to trigger the execution of the target service.A service that requires asset exchange services as service support, such as the "Real Estate Transaction" service that requires the "Real Estate Rights Transfer" service support. Transaction account Service account associated with the target service, for example, in the "Real Estate Transaction" service, it refers to the buyer's real estate account and the seller's real estate account. Asset exchange certificate Certificate generated after the completion of the asset exchange, such as the "Real Estate Rights Transfer" certificate generated after the completion of the "Real Estate Rights Transfer" service. Smart contract Code deployed on the blockchain that can be triggered by transactions, such as smart contracts that can be deployed on the service blockchain or asset blockchain to implement specific functions. Oracle Module used to connect blockchain and off-chain data entities, such as Oracle that can connect the server of the asset service agency to the service blockchain. Short answer questions

What is a cross-chain relay? What role does it play in the interaction between the service blockchain and the asset blockchain? (2-3 sentences)

Please explain the relationship between the service blockchain, the asset blockchain and the service system. (2-3 sentences)

What role does the target transaction play in the blockchain service processing? (2-3 sentences)

What is an asset exchange certificate? Why is it crucial for the further processing of the target service? (2-3 sentences)

Please explain the application of smart contracts in blockchain service processing. (2-3 sentences)

In the cross-chain service system shown in Figure 4, how does the service blockchain interact with multiple asset blockchains? (2-3 sentences)

Please explain the specific operation of step 504 in Figure 5. (2-3 sentences)

What is the role of the Oracle machine in the method shown in Figure 6? (2-3 sentences)

Compare and contrast the two blockchain service processing methods shown in Figures 5 and 6. (2-3 sentences)

Please list at least three application scenarios where blockchain service processing technology can be used. (2-3 sentences)

Short answer questions

Cross-chain relay is a mechanism to connect different blockchains, allowing data synchronization and smart contract calls between them. In the interaction between the service blockchain and the asset blockchain, the cross-chain relay can connect the service blockchain to one or more asset blockchains to enable access to different asset exchange services.

The service blockchain hosts blockchain services that require asset exchange services; the asset blockchain provides asset exchange services and converts real-world assets into virtual assets; the service system interacts with the service blockchain and uses asset exchange certificates to complete the service.

The target transaction is sent by the service system to trigger the execution of the target service on the service blockchain. It contains the information required to execute the target service, such as the service type, transaction account, etc.

The asset exchange certificate is a certificate generated after the asset exchange is completed, such as a real estate certificate. It is a necessary condition for subsequent processing of the target service because it proves the completion of the asset exchange.

Smart contracts can be used to define and execute complex logic on the blockchain, such as asset exchange logic or cross-chain call logic. They can be triggered by transactions and automatically execute predefined operations.

The service blockchain can interact with multiple asset blockchains through cross-chain relays. The cross-chain relay acts as a bridge, allowing the service blockchain to discover and call asset exchange services on different asset blockchains.

In step 504, the service blockchain first determines the corresponding target asset blockchain based on the target service. Then, it calls the asset exchange service on the target asset blockchain through the cross-chain relay, completes the asset exchange between the transaction accounts, and obtains the asset exchange certificate.

The Oracle machine acts as a bridge connecting the blockchain with the off-chain data source. In Figure 6, the Oracle machine is used to connect the server of the asset service agency to the service blockchain, allowing the service blockchain to call the asset exchange service on the server.

The method in Figure 5 uses a cross-chain relay to connect the service blockchain to the asset blockchain, while the method in Figure 6 uses an Oracle machine to connect the service blockchain to the server of the asset service agency. Both methods achieve access to the asset exchange service required by the target service, but in different ways.

Blockchain service processing technology can be applied to various scenarios, such as supply chain finance, digital identity authentication, data sharing platform, etc.

Essay question

Discuss in detail the advantages and challenges of using cross-chain technology in blockchain service processing.

What key factors should be considered when designing and implementing a cross-chain service system based on blockchain?

Analyze the security risks of smart contracts in blockchain service processing and propose corresponding solutions.

Discuss the future development trend of blockchain service processing technology and the opportunities and challenges it may face.

Compare and contrast traditional asset exchange methods and blockchain-based asset exchange methods, and analyze their advantages and disadvantages.