China Mobile Internet Applies for Patent on "A Blockchain Resource Exchange Method" to Enhance Cross-Chain Transaction Convenience

China Mobile Internet Applies for Patent on "A Blockchain Resource Exchange Method" to Enhance Cross-Chain Transaction ConvenienceFinancial World reported on December 18, 2024, that China Mobile Internet Co., Ltd

China Mobile Internet Applies for Patent on "A Blockchain Resource Exchange Method" to Enhance Cross-Chain Transaction Convenience

Financial World reported on December 18, 2024, that China Mobile Internet Co., Ltd. has applied for a patent titled "A Blockchain Resource Exchange Method" (Publication No. CN119130643A), filed in August 2024. The core of this patented technology lies in improving the convenience of cross-chain transactions within multi-blockchain integrated systems. Details of the method are described in the patent abstract.

The patent abstract states that this method is applied to multi-blockchain integrated systems. The process begins with receiving a target transaction request. This request aims to facilitate the exchange of a first resource belonging to a first user on a first blockchain with a second resource belonging to a second user on a second blockchain. To ensure transaction security and authenticity, the system initiates a verification request to a "Resource Authority Blockchain" based on the unique resource authorization codes of both the first and second resources included in the target transaction request.

The Resource Authority Blockchain plays a crucial role, acting as a centralized registry recording all user and block information for all resources on both the first and second blockchains. Each resource possesses a unique resource authorization code directly pointing to its resource and block information on its respective blockchain. By verifying the unique resource authorization code, the system effectively validates the authenticity of the first and second resources.

Only after the authenticity of the first and second resources is verified will the system complete the target transaction request based on the first and second blockchains. Upon transaction completion, updated user and block information is uploaded to the Resource Authority Blockchain, ensuring the integrity and traceability of all transaction records. This process effectively safeguards cross-chain transaction security and prevents fraudulent activities.

The significance of this patented technology lies in its considerable improvement of cross-chain transaction convenience. In traditional multi-blockchain systems, cross-chain transactions often require complex processes and numerous intermediate steps, increasing transaction costs and reducing efficiency. China Mobile Internet's proposed method simplifies the cross-chain transaction process and lowers the barrier to entry by introducing the Resource Authority Blockchain and unique resource authorization code mechanism, thereby increasing transaction speed and efficiency.

The convenience offered by this patented technology is multifaceted. Firstly, it reduces the time and steps required for cross-chain transactions. Verification via the Resource Authority Blockchain allows for rapid authentication of resource authenticity, eliminating redundant verification processes. Secondly, it reduces the complexity of cross-chain transactions. Users need not understand the intricate technical details of different blockchains; a simple request suffices to complete a cross-chain transaction. Finally, it enhances cross-chain transaction security. The Resource Authority Blockchain's records ensure the integrity of all transaction records, effectively preventing fraud.

This patented technology boasts extensive application prospects. In the rapidly developing field of blockchain technology, multi-blockchain integrated systems are receiving increasing attention. Many application scenarios, such as cross-chain asset transfer and cross-chain data sharing, require efficient and secure cross-chain transaction mechanisms. China Mobile Internet's patented technology provides an effective technological solution for these scenarios, promising to propel further development and application of multi-blockchain integrated systems.

Furthermore, this patented technology is significantly important for enhancing user experience. Traditional cross-chain transactions present users with complex processes and lengthy wait times, which inevitably decrease user willingness. This new technology significantly simplifies the transaction process and shortens transaction times, thereby enhancing user experience and attracting more users to participate in multi-blockchain systems.

In summary, China Mobile Internet's applied patent for "A Blockchain Resource Exchange Method" effectively enhances cross-chain transaction convenience, reduces transaction costs, and improves transaction efficiency and security through the introduction of the Resource Authority Blockchain and unique resource authorization code mechanism. This technology possesses significant innovative significance and broad application prospects, promising to drive the rapid development of multi-blockchain integrated systems and provide users with a more convenient and secure cross-chain transaction experience. Its emergence signifies China's continued innovation and development in the blockchain technology field. With further refinement and application, this technology is expected to revolutionize numerous industries and propel the vigorous development of the digital economy. Its successful application will undoubtedly contribute to building a safer, more efficient, and more convenient digital economic ecosystem. China Mobile Internet's continued investment and innovation in blockchain technology are worth anticipating.

This patented technology enhances transaction efficiency while ensuring security, which is crucial for resource exchange in future multi-blockchain application scenarios. It is noteworthy that China Mobile Internet, as a large state-owned enterprise, its exploration and innovation in blockchain technology provide a benchmark and reference for other enterprises, driving the progress and development of the entire industry. As the technology matures and improves, this patented technology is expected to find wider application in more fields, generating greater economic and social benefits. Through its application, we can anticipate a safer, more efficient, and more convenient digital economic era.