Tencent Files Patent for Blockchain-Based Contract Processing: Enhancing Efficiency and Reducing Storage Pressure

Tencent Files Patent for Blockchain-Based Contract Processing: Enhancing Efficiency and Reducing Storage PressureTencent Technology (Shenzhen) Co., Ltd

Tencent Files Patent for Blockchain-Based Contract Processing: Enhancing Efficiency and Reducing Storage Pressure

Tencent Technology (Shenzhen) Co., Ltd. filed a patent application (CN119624451A) with the China National Intellectual Property Administration in September 2023, titled "Method, Device, Equipment, Medium and Product for Blockchain-Based Contract Processing." This application aims to improve the efficiency of contract execution on blockchains and reduce storage pressure on blockchain nodes. The patent abstract details a blockchain-based contract processing method that introduces a central auditing device to store and audit smart contracts, optimizing the contract execution process and improving overall efficiency.

The proposed contract processing method involves several key steps: first, receiving a transaction request containing the contract identifier of the target smart contract to be executed on the blockchain. The system then retrieves the contract type. The blockchain supports multiple smart contract types; the patent mentions at least one "first type" smart contract. "First type" smart contracts are stored in a contract repository within a central auditing device linked to the blockchain. Contracts in this repository have undergone rigorous testing and processing by the central auditing device to ensure security and reliability.

If the target smart contract is of the "first type," the system retrieves it from the contract repository based on its identifier. Finally, the target smart contract is called to execute the transaction. The core innovation lies in using the central auditing device for smart contract storage and auditing, effectively reducing storage pressure on blockchain nodes and avoiding the redundancy of each node storing all smart contracts, thus improving overall blockchain system performance and efficiency.

This patent's technical solution cleverly leverages the central auditing device as a centralized storage and auditing center for smart contracts, effectively mitigating storage pressure on blockchain nodes. This is crucial for large blockchain networks. As blockchain applications expand, the number and complexity of smart contracts increase, potentially leading to storage bottlenecks and inefficiency with traditional distributed storage. Tencent's patent application offers a potential solution, enabling centralized management of smart contracts to ensure security while significantly reducing storage pressure and improving execution efficiency.

This patent application reflects Tencent's ongoing exploration and innovation in blockchain technology. As a technology company with extensive experience, Tencent actively participates in blockchain R&D and application, achieving notable results. This patent application represents another significant attempt at blockchain innovation, offering new directions for future development.

According to Tianyancha, Tencent Technology (Shenzhen) Co., Ltd., established in 2000, has a registered capital of US$2 million and is headquartered in Shenzhen. It primarily engages in software and information technology services, possessing strong technical capabilities and extensive experience. Tianyancha data also shows that the company has invested in 16 enterprises, participated in 249 bidding projects, holds over 5,000 trademark and 5,000 patent registrations, and possesses 404 administrative licenses. This demonstrates Tencent's significant strength and influence in the technology sector, providing a solid foundation and rich resources for its blockchain explorations.

Tencent's blockchain investment and R&D extend beyond patent applications. The company actively participates in various blockchain projects and collaborations, exploring application scenarios and driving innovation. This patent application is just one example of Tencent's efforts, reflecting its positive outlook and commitment to long-term investment in blockchain technology.

In summary, Tencent Technology (Shenzhen) Co., Ltd.'s patent application for blockchain-based contract processing is innovative and practical, offering a significant solution to blockchain development bottlenecks. It enhances contract execution efficiency, reduces storage pressure, and provides more reliable technical support for widespread blockchain adoption. The successful application will positively promote blockchain development and provide valuable reference for other companies. We can expect further breakthroughs from Tencent in the blockchain field, contributing significantly to the digital economy. This patent is further proof of Tencent's continuous exploration and innovation, signifying a more important role in future blockchain application and development. As the technology matures and application scenarios expand, this patent technology is expected to be widely used in various fields, improving efficiency and reducing costs. We look forward to seeing this technology better serve society and economic development. Tencent's continued investment in technological innovation will strongly support the development of China's digital economy.