WeBank Files Patent for Blockchain Node Consensus Method: Enhanced Efficiency and Optimized Consensus Mechanism

WeBank Files Patent for Blockchain Node Consensus Method: Enhanced Efficiency and Optimized Consensus MechanismOn December 25, 2024, the State Intellectual Property Office of China (SIPO) published a patent application (CN119172383A) filed by WeBank, a Shenzhen-based technology-focused bank, for a "Blockchain Node Consensus Method, Device, Equipment, and Medium." Filed in September 2024, the patent focuses on optimizing the node consensus mechanism in blockchain systems to improve efficiency and reduce resource consumption

WeBank Files Patent for Blockchain Node Consensus Method: Enhanced Efficiency and Optimized Consensus Mechanism

On December 25, 2024, the State Intellectual Property Office of China (SIPO) published a patent application (CN119172383A) filed by WeBank, a Shenzhen-based technology-focused bank, for a "Blockchain Node Consensus Method, Device, Equipment, and Medium." Filed in September 2024, the patent focuses on optimizing the node consensus mechanism in blockchain systems to improve efficiency and reduce resource consumption. The patent abstract details the technical specifications of the method, device, equipment, and medium, providing key insights into its innovations.

The core of the application lies in a novel node consensus method. Traditional blockchain systems typically require individual verification and confirmation of each transaction, significantly reducing efficiency with high transaction volumes and numerous nodes. WeBank's patent cleverly circumvents this bottleneck.

The key innovation is that each node locally stores a transaction chain for every other node. Unlike traditional methods that only store local transaction records, this approach creates a more comprehensive system view. Each node's transaction chain contains multiple "batch packages." These packages aren't arbitrarily combined; instead, their creation is based on all nodes' voting results on the previous batch. A new batch package is created only when all nodes' votes on the preceding package meet predefined requirementsa consensus threshold, such as a required percentage of affirmative votes.

This voting-based batch package generation mechanism efficiently bundles transactions into larger units. Nodes process relatively large batch packages instead of individual transactions, significantly reducing processing times. This is analogous to packing numerous small items into boxes for more efficient transport and management.

Crucially, the patent's proposed consensus master node only packages the final batch package meeting the predefined requirements into a consensus message package for broadcasting. This avoids including all transactions in the consensus message, further enhancing efficiency. Traditional consensus mechanisms typically require individual confirmation of all transactions, while this patent focuses only on the final, consensus-verified batch, greatly reducing data transmission and processing overhead.

After receiving the consensus message package, the consensus subordinate nodes only need to reach consensus on the target batch package, eliminating the need for individual transaction consensus. This simplified consensus process further improves overall blockchain system efficiency, reducing latency and network bandwidth consumption. This is crucial for high-throughput, low-latency blockchain applications.

The patent's mention of "device, equipment, and medium" suggests a practical system solution beyond a mere method. This likely includes specialized hardware, software, and storage media, collectively forming a high-efficiency blockchain system.

This patent signifies a more efficient and scalable blockchain node consensus mechanism. By batching transactions and broadcasting only the final consensus result, it effectively reduces network load, lowers processing latency, and increases overall throughput. This is highly valuable for blockchain applications handling large transaction volumes, such as digital payments, supply chain management, and digital identity authentication.

WeBank, a bank focused on fintech, actively explores blockchain applications in finance. This patent application reflects its continuous innovation and investment in blockchain technology. As blockchain technology and its applications evolve, this patent's potential is promising. It's poised to improve blockchain system efficiency, reduce operational costs, and broaden blockchain application areas. We may see this technology used in various financial scenarios, offering users more convenient and secure financial services. This is significant for WeBank's development and will positively impact the broader blockchain industry. The patent's publication also offers valuable insights for other blockchain research institutions and companies, further driving innovation. In short, this patent represents a significant breakthrough in optimizing blockchain consensus mechanisms, and its future applications are highly anticipated. It not only improves blockchain system efficiency but may also transform future application models.

A detailed analysis reveals WeBank's technological prowess and innovation in blockchain. The patent is innovative in theory and boasts practical applicability and potential value. As the technology matures, it's expected to see broader application, contributing to blockchain's widespread adoption. WeBank's patent will undoubtedly drive blockchain technology towards higher efficiency, security, and reliability. This technology's significance is bound to grow, eventually reshaping our understanding of blockchain consensus mechanisms and ushering the industry into a new development phase. Its theoretical, economic, and social benefits warrant further research and discussion.