Krypton Labs, Inc. (20240333538). DECENTRALIZED CONSENSUS NETWORK simplified abstract
Contents
DECENTRALIZED CONSENSUS NETWORK
Organization Name
Inventor(s)
MICHAEL CHRISTOPH Nowotny of Los Angeles CA (US)
DECENTRALIZED CONSENSUS NETWORK - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240333538 titled 'DECENTRALIZED CONSENSUS NETWORK
The decentralized processing system described in the patent application can update the state of a blockchain by identifying cryptographic commitments, transmitting instructions to a decentralized consensus network, and evolving the blockchain state based on computed subsequent states.
- The system can identify cryptographic commitments to update the blockchain state.
- It can transmit instructions to a decentralized consensus network for computing a subsequent state.
- The system can receive cryptographic hashes associated with data structures from the decentralized consensus network.
- It can compute cryptographic hashes for data entries and verify their match with the received hashes.
- Instructions within data entries are executed to evolve the state of the blockchain.
- Potential Applications:**
- Cryptocurrency transactions - Smart contracts - Supply chain management - Voting systems - Document verification
- Problems Solved:**
- Ensuring data integrity on a blockchain - Facilitating secure and transparent transactions - Enhancing trust in decentralized systems
- Benefits:**
- Improved security and transparency - Efficient data processing on a blockchain - Enhanced trust in decentralized networks
- Commercial Applications:**
Blockchain technology can be utilized in various industries such as finance, healthcare, logistics, and legal sectors for secure and transparent record-keeping and transactions.
- Questions about Decentralized Processing System:**
1. How does the decentralized processing system ensure the security of blockchain transactions? 2. What are the potential challenges in implementing this system in real-world applications?
- Frequently Updated Research:**
Researchers are continuously exploring ways to enhance the scalability and efficiency of decentralized processing systems for blockchain technology. Stay updated on the latest developments in this field for insights into future advancements.
Original Abstract Submitted
the decentralized processing system can identify zero or more cryptographic commitments to update a state of the blockchain recorded on the blockchain. the system can receive an indication to update the state of the blockchain. in response, the system can transmit to a decentralized consensus network (dcn) instructions for the dcn to compute a subsequent state. the system can receive, from the dcn, a first cryptographic hash associated with a data structure which is determined based on the computed subsequent state. the system can receive, form an implementation keeper a series of data entries associated with the data structure. a second cryptographic hash can be computed for each of the series of data entries and the system can determine whether each second cryptographic hash matches the first cryptographic hash. the system can execute instructions contained within each of the series of data entries to evolve the state of the blockchain.
