18583447. System and Methods of Verifiable Smart Contract as a Service simplified abstract (HUAWEI TECHNOLOGIES CO., LTD.)
Contents
System and Methods of Verifiable Smart Contract as a Service
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System and Methods of Verifiable Smart Contract as a Service - A simplified explanation of the abstract
This abstract first appeared for US patent application 18583447 titled 'System and Methods of Verifiable Smart Contract as a Service
The abstract describes an electronic device that can interact with multiple blockchains through a middleware smart contract to verify data consistency.
- The electronic device has a memory and a processor that can transmit data to and receive data from different blockchains.
- It uses a middleware smart contract to process and verify the data exchanged between the blockchains.
- The device generates an alert if there is a discrepancy between the processed data and the data received from the middleware smart contract.
Potential Applications: - Cross-chain transactions - Data verification in decentralized applications - Interoperability between different blockchain networks
Problems Solved: - Ensures data consistency across multiple blockchains - Streamlines communication between different blockchain networks - Enhances trust and reliability in blockchain transactions
Benefits: - Improved data integrity and security - Simplified cross-chain transactions - Increased efficiency in blockchain operations
Commercial Applications: Title: "Blockchain Interoperability Solution for Secure Data Exchange" This technology can be utilized in industries such as finance, supply chain management, and healthcare to facilitate secure and reliable data exchange between different blockchain networks.
Prior Art: Researchers can explore existing patents related to blockchain interoperability solutions and middleware smart contracts to understand the evolution of this technology.
Frequently Updated Research: Stay updated on the latest advancements in blockchain interoperability and middleware smart contracts to enhance the functionality and security of data exchange in decentralized systems.
Questions about Blockchain Interoperability Solution for Secure Data Exchange: 1. How does the middleware smart contract ensure data consistency between different blockchains? 2. What are the potential challenges in implementing cross-chain transactions using this technology?
Original Abstract Submitted
An electronic device includes a memory; and a processor coupled to the memory and configured to receive instructions from the memory which, when executed by the processor, cause the electronic device to transmit first data associated with a first blockchain to a second application; receive second data associated with a second blockchain from the second application; transmit the first data to a middleware smart contract; perform a first blockchain function using the first data and the second data to obtain a first result; receive third data from the middleware smart contract in response to transmission of the first data to the middleware smart contract; trust the middleware smart contract when the first result and third data match; and generate an alert when the first result and the third data do not match.
