18112038. BLOCKCHAIN LEDGER ROLLBACK simplified abstract (International Business Machines Corporation)
Contents
BLOCKCHAIN LEDGER ROLLBACK
Organization Name
International Business Machines Corporation
Inventor(s)
Krishnasuri Narayanam of Bangalore (IN)
Vinayaka Pandit of Bangalore (IN)
Sandeep Nishad of Bangalore (IN)
Venkatraman Ramakrishna of Bangalore (IN)
Dhinakaran Vinayagamurthy of Erode (IN)
BLOCKCHAIN LEDGER ROLLBACK - A simplified explanation of the abstract
This abstract first appeared for US patent application 18112038 titled 'BLOCKCHAIN LEDGER ROLLBACK
The abstract of the patent application describes a method for identifying and rolling back a group of transactions in a blockchain ledger. This method involves determining the eligibility of transactions to be rolled back together, recommending additional transactions to be included in the rollback group, and adding a rollback transaction to the ledger to reverse the effects of the transactions.
- The method can identify and rollback a group of transactions in a blockchain ledger.
- Eligibility of transactions to be rolled back together can be determined.
- Additional transactions can be recommended and added to the rollback group.
- A rollback transaction can be added to the ledger to reverse the effects of the transactions.
- The rollback transaction can have inputs and outputs, with at least one input and output each.
- Unspent outputs of transactions in the group can be used as inputs for the rollback transaction.
- Inputs of transactions in the group, not outputs of another transaction in the group, can be provided as outputs of the rollback transaction.
Potential Applications: - Financial institutions for managing and correcting transaction errors. - Supply chain management for tracking and reversing incorrect transactions. - Healthcare industry for maintaining accurate and secure medical records.
Problems Solved: - Efficiently identifying and rolling back a group of transactions in a blockchain ledger. - Ensuring the accuracy and integrity of transaction records. - Providing a mechanism for correcting errors in a secure and transparent manner.
Benefits: - Improved accuracy and reliability of transaction records. - Enhanced security and transparency in blockchain transactions. - Streamlined process for correcting errors and managing transaction data.
Commercial Applications: Title: Blockchain Transaction Rollback Technology for Error Correction This technology can be utilized by financial institutions, supply chain companies, and healthcare providers to ensure the accuracy and integrity of transaction records. It can streamline error correction processes and enhance the security and transparency of blockchain transactions, leading to improved operational efficiency and customer trust.
Questions about Blockchain Transaction Rollback Technology: 1. How does this technology impact the overall security of blockchain transactions? 2. What are the potential challenges in implementing this technology in different industries?
Original Abstract Submitted
A group of transactions to be rolled back in a blockchain ledger can be identified. Whether the transactions in the group are eligible to be rolled back together can be determined. Other transactions can be recommended, and the other transactions may be added to the group to be rolled back together. A rollback transaction can be added to the blockchain ledger that rolls back effect of the transactions, where the rollback transaction has zero or more inputs and zero or more output, the rollback transaction having at least one selected from at least one input and at least one output. An unspent output of a transaction in the group is provided as an input of the rollback transaction. Input of a transaction in the group, that is not an output of another transaction in the group, is provided as an output of the rollback transaction.
