NChain Licensing AG (20240289326). FLOW CONTROL FOR PROBABILISTIC RELAY IN A BLOCKCHAIN NETWORK simplified abstract
Contents
FLOW CONTROL FOR PROBABILISTIC RELAY IN A BLOCKCHAIN NETWORK
Organization Name
Inventor(s)
Giuseppe Destefanis of London (GB)
Patrick Motylinski of London (GB)
Stephane Vincent of Luxembourg (LU)
Alexandra Covaci of London (GB)
FLOW CONTROL FOR PROBABILISTIC RELAY IN A BLOCKCHAIN NETWORK - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240289326 titled 'FLOW CONTROL FOR PROBABILISTIC RELAY IN A BLOCKCHAIN NETWORK
The abstract of the patent application describes techniques for analyzing transactions on a blockchain network, including steps such as analyzing transactions received from peer nodes, determining if a peer node is malicious based on the transactions received, and removing connection to the peer node if it is deemed malicious.
- Node of a blockchain network with multiple interfaces connected to peer nodes
- Analyzing transactions received from a peer node
- Identifying malicious nodes based on received transactions
- Disconnecting from malicious peer nodes
Potential Applications: - Enhancing security on blockchain networks - Preventing malicious activities on the network - Improving trust and reliability in blockchain transactions
Problems Solved: - Mitigating the risk of malicious nodes on a blockchain network - Safeguarding transactions and data integrity - Enhancing overall network security
Benefits: - Increased network security and trustworthiness - Improved transaction reliability - Enhanced protection against fraudulent activities
Commercial Applications: Title: "Blockchain Security Enhancement Tool" This technology can be utilized by blockchain companies, financial institutions, and government agencies to secure their transactions and data on the blockchain network. It can also be integrated into cryptocurrency exchanges to prevent fraudulent activities and enhance user trust.
Questions about Blockchain Security Enhancement Tool: 1. How does this technology impact the overall security of blockchain networks? - This technology significantly enhances the security of blockchain networks by identifying and disconnecting from malicious nodes, thereby reducing the risk of fraudulent activities. 2. What are the potential implications of this innovation for the blockchain industry? - The innovation can lead to increased trust and reliability in blockchain transactions, ultimately improving the overall integrity of the network.
Original Abstract Submitted
techniques are presented relating to analysing transactions on a blockchain network. steps include, for a node of a blockchain network, said node having a plurality of interfaces connected to peer nodes, analysing transactions received from a peer node; determining, based on the transactions received from a peer node, that a peer node is a malicious node; and upon determining that a peer node is a malicious node, removing connection to the peer node.
