Industrial Bank Applies for Blockchain Patent to Enhance Smart Contract Management Security
Industrial Bank Applies for Blockchain Patent to Enhance Smart Contract Management SecurityOn November 15, 2024, information released by the National Intellectual Property Administration of China revealed that Industrial Bank Co., Ltd
Industrial Bank Applies for Blockchain Patent to Enhance Smart Contract Management Security
On November 15, 2024, information released by the National Intellectual Property Administration of China revealed that Industrial Bank Co., Ltd. had applied for a patent titled "Node Determination Method, Device, Equipment, Storage Medium and Product," with publication number CN118944853A and an application date of July 2024. This patent falls under the blockchain domain and aims to improve the security of smart contract management.
The patent abstract indicates that it proposes a node determination method, device, equipment, storage medium and product, which involves the following steps:
1. Identifying Candidate Nodes: Within the consortium chain, identifying multiple candidate nodes corresponding to the target smart contract. These nodes include election management nodes and auditing nodes.
2. Generating Voting Links: Based on the candidate nodes, generating voting links. Each voting link encompasses at least one voting topic used to request the determination of management nodes or auditing nodes.
3. Obtaining Voting Information: Using the voting links, obtaining voting information from multiple voting nodes within the consortium chain.
4. Determining Target Nodes: Based on the voting information from multiple voting nodes, determining the target nodes for each voting topic of the target smart contract. The target nodes include management nodes and auditing nodes.
Through these steps, the method introduced by the patent can effectively enhance the security of smart contract management. Specifically, the method leverages a voting mechanism to entrust the selection of smart contract management nodes to multiple voting nodes within the consortium chain, thus mitigating the risk of single-node control and improving the reliability and security of smart contract management.
This patent signifies Industrial Bank's ongoing exploration and innovation in blockchain technology. In the future, the bank will continue to increase its investments in blockchain technology research and development, actively promote the application of blockchain technology in the financial sector, and contribute to the digital transformation of the financial industry.
Related Information:
- Publication number: CN118944853A
- Application date: July 2024
- Applicant: Industrial Bank Co., Ltd.
- Technical field: Blockchain
- Keywords: Node determination, smart contract, consortium chain, voting mechanism, security
Source: Financial World, Author: Intelligence Officer
Tag: Industrial Bank Applies for Blockchain Patent to Enhance Smart
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