ARTIFRIENDS INC. (20240338242). METHOD OF IMPROVING PROCESSING SPEED OF TRANSACTION IN BLOCKCHAIN NETWORK simplified abstract
Contents
METHOD OF IMPROVING PROCESSING SPEED OF TRANSACTION IN BLOCKCHAIN NETWORK
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Inventor(s)
METHOD OF IMPROVING PROCESSING SPEED OF TRANSACTION IN BLOCKCHAIN NETWORK - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240338242 titled 'METHOD OF IMPROVING PROCESSING SPEED OF TRANSACTION IN BLOCKCHAIN NETWORK
Simplified Explanation: This patent application describes a method to enhance the processing speed of transactions in a blockchain network by pre-loading necessary data onto the network before executing a smart contract, storing data for future transactions, and processing transactions in bundles without individual processing.
Key Features and Innovation:
- Loading data in advance onto the blockchain network based on transaction type.
- Storing data for future transactions according to transaction type.
- Performing bundled processing in blocks without individual transaction processing.
Potential Applications: This technology could be applied in various industries such as finance, supply chain management, healthcare, and more where fast and efficient transaction processing is essential.
Problems Solved: This technology addresses the issue of slow transaction processing speeds in blockchain networks, improving overall efficiency and scalability.
Benefits:
- Increased transaction processing speed.
- Enhanced efficiency in blockchain networks.
- Improved scalability for handling a large number of transactions.
Commercial Applications: Potential commercial applications include financial institutions, e-commerce platforms, logistics companies, and any other businesses that rely on secure and efficient transaction processing.
Prior Art: Readers interested in prior art related to this technology could explore research papers, patents, and industry publications related to blockchain transaction processing and optimization.
Frequently Updated Research: Stay updated on the latest advancements in blockchain transaction processing, optimization techniques, and scalability solutions to further enhance the efficiency of this technology.
Questions about Blockchain Transaction Processing: 1. How does pre-loading data onto a blockchain network improve transaction processing speed? 2. What are the potential challenges in implementing bundled processing in blockchain networks?
Original Abstract Submitted
a method of improving a processing speed of a transaction in a blockchain network includes steps of loading data necessary for transaction processing in a bundle in advance onto the blockchain network according to a type of transaction presented by a client before execution of a smart contract, storing data to be stored in a bundle in the blockchain network according to a type of transaction to be processed after execution of the smart contract on the data loaded in the bundle, and performing bundled processing in units of blocks on the stored data without individually processing the transaction to be processed.
