18075025. ELECTRONIC DEVICE USING BLOCKCHAIN AND OPERATING METHOD THEREOF simplified abstract (SAMSUNG ELECTRONICS CO., LTD.)
ELECTRONIC DEVICE USING BLOCKCHAIN AND OPERATING METHOD THEREOF
Organization Name
Inventor(s)
Chanjoon Park of Suwon-si (KR)
ELECTRONIC DEVICE USING BLOCKCHAIN AND OPERATING METHOD THEREOF - A simplified explanation of the abstract
This abstract first appeared for US patent application 18075025 titled 'ELECTRONIC DEVICE USING BLOCKCHAIN AND OPERATING METHOD THEREOF
Simplified Explanation
The abstract describes an electronic device with a communication circuit and a processor. The processor is capable of generating transaction data for transferring unused transaction output values from one address to another. It can also receive status information about the transmission delay of the transaction data in a blockchain network and recommendation fee information for the transaction. Based on this information, the processor can generate new transaction data for the transfer.
- An electronic device with a communication circuit and processor
- Processor generates transaction data for transferring unused transaction output values
- Transaction data is sent to a server
- Server provides status information on transmission delay in the blockchain network
- Server also provides recommendation fee information for the transaction
- Processor generates new transaction data based on the recommendation fee information
Potential Applications
- Secure and efficient transfer of unused transaction output values in a blockchain network
- Facilitating transactions in cryptocurrencies or digital assets
Problems Solved
- Reducing transmission delays in blockchain networks
- Optimizing transaction fees based on recommendation fee information
Benefits
- Improved efficiency in transferring unused transaction output values
- Cost optimization by generating transaction data based on recommendation fee information
Original Abstract Submitted
An electronic device includes a communication circuit and a processor connected to the communication circuit. The processor may be configured to generate first transaction data comprising a first piece of transaction data for transferring a part of unused transaction output values of a first address from the first address to a second address, transmit the first transaction data to a server, receive status information indicating a transmission delay status of the first transaction data in a blockchain network from the server, receive recommendation fee information on transmission of the first transaction data, from the server, and generate second transaction data comprising a second piece of transaction data for transferring the part of the unused transaction output values of the first address from the first address to the second address, based on the recommendation fee information.
