International Business Machines Corporation (20240281804). BLOCKCHAIN LEDGER ROLLBACK simplified abstract
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 20240281804 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 process involves determining the eligibility of transactions to be rolled back together, recommending other transactions to be added to the group, and adding a rollback transaction to the ledger to reverse the effects of the transactions.
- The method allows for the identification of a group of transactions to be rolled back in a blockchain ledger.
- Eligibility of transactions to be rolled back together can be determined.
- Other transactions can be recommended and added to the rollback group.
- A rollback transaction is added to the ledger to reverse the effects of the transactions.
- The rollback transaction has inputs and outputs, with at least one input and output selected from the group of transactions.
- Unspent outputs of transactions in the group are provided as inputs to the rollback transaction.
- Inputs of transactions in the group, not outputs of another transaction in the group, are provided as outputs of the rollback transaction.
Potential Applications: - This technology could be used in blockchain systems to efficiently manage and reverse transactions. - It could be beneficial in cases where errors or fraudulent activities need to be corrected in a secure and transparent manner.
Problems Solved: - Provides a method for easily identifying and rolling back a group of transactions in a blockchain ledger. - Helps in efficiently managing and correcting errors or fraudulent activities in transactions.
Benefits: - Enhances the security and transparency of blockchain transactions. - Allows for quick and effective reversal of transactions when needed.
Commercial Applications: Title: Blockchain Transaction Rollback Technology for Secure and Transparent Transactions This technology could be utilized by financial institutions, e-commerce platforms, and other industries that rely on secure and transparent transactions. It could streamline the process of managing and correcting errors in transactions, ultimately improving customer trust and satisfaction.
Questions about Blockchain Transaction Rollback Technology: 1. How does this technology impact the overall security of blockchain transactions? 2. What are the potential implications of using this technology in the financial sector?
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.
