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A Relational Schema to Allow Data to Interact with the Monetary Transactions with Rigidity and Bytes-saving

IP.com Disclosure Number: IPCOM000247623D
Publication Date: 2016-Sep-21
Document File: 3 page(s) / 134K

Publishing Venue

The IP.com Prior Art Database

Abstract

With blockchain applied to more and more areas, the participants require not only persist the transfer of value (such as coins), but also about the data associated with the value transfer. Take a crowd-sourcing project on a blockchain as an example, both the fund-raiser and the investors would like to persist the interest rate associated with each investment. In addition, the data may dynamically changed. Using the crowd-sourcing example again, the fund-raiser may lift (reduce) the offered interest rate because there are too few (many) investors are interested. We need a systematical way to manage the data, the value transfer and the mixed of them.

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Page 01 of 3

A Relational Schema to Allow Data to Interact with the Monetary Transactions with Rigidity and Bytes-saving


1. We design a system to include another type of transaction called data transaction, which only specifies the contractual terms without any monetary transfer. Further, anther type of mixed transaction is also introduced. The mixed transaction accomplishesthe value transfer while refers to the data transaction to indicate the purpose or necessary condition associated with the transaction.

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2. We manage the lifecycle of the data transaction to accommodate the demand that the owner of the data transaction may would like to revise the contractual terms. Similar to the existing transactions, our transaction includes input and output. We design the input and output as in the below.

Data transaction creation

//the input is used to verify that the signature is indeed signed by the PubK_Writer. Input ScriptSig:

//output[0] specifies who work together can revise the term.

Output[0] - ScriptPubK: M out of the N public key owners

must sign to modify or end the terms.

Output[1] - ScriptEqual: Term 1 is indexed as "1"

1


Page 02 of 3

Output[k] - ScriptEqual: Term k is indexed as "k"

Data transaction modification

//the input is used to verify that at least M out of N signatures are collected to satisfy the output[0] of its parent transaction Input ScriptSig: M out of N signed script

//output[0] specifies who work together can revise the term.

Output[0]...