Hunan Tianhe Guoyun Technology Applies for Patent for "Distributed Transaction Processing Method for Vehicles," Aiming to Enhance Transaction Security

Hunan Tianhe Guoyun Technology Applies for Patent for "Distributed Transaction Processing Method for Vehicles," Aiming to Enhance Transaction SecurityHunan Tianhe Guoyun Technology Co., Ltd

Hunan Tianhe Guoyun Technology Applies for Patent for "Distributed Transaction Processing Method for Vehicles," Aiming to Enhance Transaction Security

Hunan Tianhe Guoyun Technology Co., Ltd. recently filed a patent application for a "Distributed Transaction Processing Method, Device, Equipment, and Medium for Vehicles," with a publication number of CN202410568780.3 and an application date of May 2024. This patent aims to provide a secure and efficient vehicle transaction processing mechanism using blockchain technology, addressing security vulnerabilities in traditional trading models.

The patent abstract reveals that the method's core lies in employing distributed identity identifiers and digital identity credentials, combined with blockchain technology, to securely verify the transaction process and manage resources. The specific steps are as follows:

1. Creating User Identifiers and Registration: When a user registers with the system, they create a unique distributed identity identifier and register it on the blockchain trading platform, ensuring the security and trustworthiness of user identity information.

2. Identity Verification and Digital Credential Generation: The system calls upon a trusted third-party institution to verify the user's identity and generate a digital identity credential. This credential is linked to the user's distributed identity identifier and stored on the blockchain, further guaranteeing the authenticity of the user's identity.

3. Encrypting and Uploading Vehicle Data to the Blockchain: When a user uploads vehicle data, the system encrypts sensitive information, generating target vehicle data, which is then stored on the blockchain.

4. Identity-Based Transaction Request Processing: Upon a user initiating a transaction request, the system verifies their identity based on their distributed identity identifier and digital identity credential, ensuring the legitimacy of the transaction.

5. Smart Contracts for Resource Control: After verification, the system freezes the target resource value matching the transaction request using smart contracts. Once the smart contract determines that the transaction conditions are met, it transfers the target resource value from the user's account, enabling secure resource transfer.

The advantages of this method include:

• Enhanced Security: By employing distributed identity identifiers, digital identity credentials, and blockchain technology, it effectively prevents identity fraud, protects user privacy, and ensures transaction security.

• Increased Transparency: All transaction records are stored on the blockchain, allowing for traceable inquiries, thereby improving transaction transparency.

• Improved Efficiency: Smart contracts automatically execute the transaction process, simplifying operations and enhancing transaction efficiency.

This patent application demonstrates Hunan Tianhe Guoyun Technology's commitment to applying blockchain technology in the vehicle trading field, providing users with a safer, more efficient, and transparent trading experience. As blockchain technology continues to evolve, it is expected to play a crucial role in various fields, creating new opportunities for industrial development.