CROSS-CHAIN TRANSACTION METHOD AND APPARATUS

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CROSS-CHAIN TRANSACTION METHOD AND APPARATUS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240256516 titled 'CROSS-CHAIN TRANSACTION METHOD AND APPARATUS

The abstract of this patent application describes a cross-chain transaction method and apparatus involving multiple nodes and blockchains.

The method involves determining the status of transactions on different blockchains, modifying data based on transaction data, and maintaining the integrity of the state machine within each node.

The first node verifies the success of a transaction on its blockchain and then modifies target data based on the status of a transaction on a second blockchain.

This method allows for secure and efficient cross-chain transactions between different blockchain networks.

By ensuring consensus verification and data integrity, this method enhances the reliability of cross-chain transactions.

The innovation described in this patent application addresses the challenges of interoperability and data consistency in cross-chain transactions.

Potential Applications:

This technology can be applied in the financial sector for secure and efficient cross-border transactions.

It can also be used in supply chain management to ensure transparency and traceability of goods across different blockchain networks.

The method can be implemented in decentralized applications (dApps) to enable seamless interactions between different blockchain platforms.

Problems Solved:

Ensures data consistency and integrity in cross-chain transactions.

Enhances security and reliability of transactions between different blockchain networks.

Benefits:

Improved efficiency and speed in cross-chain transactions.

Enhanced security and data integrity for decentralized applications.

Commercial Applications:

Financial institutions can utilize this technology for secure cross-border transactions.

Supply chain companies can implement this method for transparent and traceable logistics operations.

Questions about Cross-Chain Transaction Method:

1. How does this method ensure the security of cross-chain transactions?

  - The method ensures security by verifying transaction statuses on different blockchains and maintaining data integrity within each node.

2. What are the potential challenges in implementing this technology in real-world applications?

  - Some challenges may include scalability issues and compatibility with existing blockchain networks.

Original Abstract Submitted

embodiments of this application provide a cross-chain transaction method and apparatus. the cross-chain transaction method includes determining, by a first node, that a first transaction status of a first transaction is a first status, the first status indicating that consensus verification on the transaction succeeded, the first node maintaining a first blockchain and the first transaction belonging to the first blockchain. the method includes obtaining, by the first node, a second transaction status of a second transaction, a second node maintaining a second blockchain and the second transaction belonging to the second blockchain. the method includes modifying, by the first node, target data, the modifying being based on first transaction data of the first transaction when the second transaction status of the second transaction is the first status, the target data comprising data in a state machine of the first node, the target data being related to the first transaction.