Samsung electronics co., ltd. (20240112193). METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN simplified abstract
Contents
- 1 METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Unanswered Questions
- 1.11 Original Abstract Submitted
METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN
Organization Name
Inventor(s)
Younghwan Ryu of Suwon-si (KR)
Geunseok Jang of Suwon-si (KR)
METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240112193 titled 'METHOD AND DEVICE FOR TRANSMITTING DATA BASED ON BLOCKCHAIN
Simplified Explanation
The abstract describes an electronic device that can interact with a blockchain network through smart contracts to store and verify transactions.
- The electronic device includes a communication circuit, memory, and a processor.
- The memory stores a partial or full ledger for a blockchain network.
- The processor generates transactions using smart contracts, verifies transactions, and creates blocks on the blockchain network.
Potential Applications
This technology can be applied in various industries such as finance, supply chain management, healthcare, and more for secure and transparent transactions.
Problems Solved
1. Ensures the security and integrity of transactions on a blockchain network. 2. Streamlines the process of verifying and storing transactions using smart contracts.
Benefits
1. Increased transparency and trust in transactions. 2. Enhanced security and immutability of transaction records. 3. Efficient and automated transaction processing.
Potential Commercial Applications
"Blockchain-enabled Electronic Device for Secure Transactions" can be utilized in banking, logistics, healthcare, and other sectors for secure and efficient transaction processing.
Possible Prior Art
One possible prior art could be the use of smart contracts in blockchain technology for automating and securing transactions.
Unanswered Questions
The abstract does not provide details on how the electronic device protects the shared data from unauthorized access or breaches.
What are the specific technical requirements for implementing this technology in different industries?
The abstract does not mention the technical specifications or compatibility of the electronic device with existing systems in various industries.
Original Abstract Submitted
an electronic device is provided. the electronic device includes a communication circuit, a memory configured to store a partial ledger including a part of a full ledger for a blockchain network or the full ledger, and a processor. the processor is configured to generate a first transaction using a smart contract including shared data of the electronic device and information on an external user to receive the shared data, request to transmit the first transaction to the blockchain network, verify the first transaction using a node creating at least one block corresponding to each of at least one transaction, transmit the first transaction to the blockchain network, create a first block corresponding to the first transaction, verify a second transaction based on receiving a second transaction, execute the smart contract, and to create a second block corresponding to the second transaction.
