Hathor Labs (20240330917). CRYPTOGRAPHIC CONTRACT AND METHOD OF USE simplified abstract
Contents
CRYPTOGRAPHIC CONTRACT AND METHOD OF USE
Organization Name
Inventor(s)
Marcelo Salhab Brogliato of Frisco TX (US)
CRYPTOGRAPHIC CONTRACT AND METHOD OF USE - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240330917 titled 'CRYPTOGRAPHIC CONTRACT AND METHOD OF USE
The abstract of the patent application describes a blockchain method that involves receiving a transaction with specific details, evaluating logic based on the contract and method identified, and changing the blockchain state accordingly.
- Simplified Explanation:
- Receiving a transaction with contract and method details - Evaluating logic based on the identified contract and method - Changing the blockchain state based on the evaluation
- Key Features and Innovation:
- Transaction includes contract identifier, method identifier, method arguments, input utxos, and output utxos - Logic evaluation based on identified contract and method - Blockchain state changes based on evaluation
- Potential Applications:
- Smart contracts - Decentralized applications - Supply chain management - Financial transactions
- Problems Solved:
- Ensuring secure and transparent transactions - Automating contract execution - Improving efficiency in blockchain operations
- Benefits:
- Increased security - Enhanced automation - Improved efficiency in transactions
- Commercial Applications:
- Implementing smart contracts in various industries - Facilitating secure and efficient financial transactions
- Questions about Blockchain Method:
1. How does the evaluation of logic based on the identified contract and method ensure secure transactions? 2. What are the potential implications of using this blockchain method in supply chain management?
- Frequently Updated Research:
- Stay updated on advancements in blockchain technology and smart contracts for potential improvements in the method described in the patent application.
Original Abstract Submitted
in variants, a blockchain method can include: receiving a transaction including a contract identifier, a method identifier, a set of method arguments, a set of input utxos, and a set of output utxos; evaluating logic for the identified method from the identified contract; and changing the blockchain state based on the evaluation.
