Transaction system and method of operation thereof
US12093938B2 · kind B2 · utility
Inventors
Key dates
| Filing date | Aug 16, 2019 |
| Grant date | Sep 17, 2024 |
| Priority date | — |
| Expiry date | Aug 16, 2039 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L63/0428
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
There is provided a transaction system that includes a plurality of computing nodes that are mutually interconnected via a data communication network to exchange encrypted data therebetween. The transaction system employs a blockchain whose entries are recorded in a ledger. A directed acyclic graph (DAG) is utilized for defining relationships between blocks of the blockchain. The DAG comprises a plurality of proposed solutions to problems posed in the one or more smart contracts. Each of the one or more smart contracts includes machine-readable elements including at least one of: a data specification, an initial mining algorithm, an objective function for scoring the plurality of proposed solutions. The transaction system operates to cause the DAG to store temporary data and/or extended algorithm code used during an execution of a given transaction, wherein the temporary data and/or extended algorithm code stored in the DAG is to be removed once the execution of the given transaction is complete, further wherein the temporary data and/or extended algorithm code stored in the DAG is to be modified in response to new solutions arising during operation of the transaction system. The t…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.