Method and apparatus for risk-aware negotiation of contracts and consensus management using game theory
Publication Date: 2018-Aug-10
The IP.com Prior Art Database
Method and apparatus for Risk-aware negotiation of contracts & consensus management using game theory Current blockchain systems have a consensus protocol that do not consider several important factors:
• Risk and vulnerability of the peers, ordering service, ledgers • Semantic analysis of the transaction payload • Trust-worthiness (with respect to security) of the blockchain network
The novel contribution is a method and system for trust-based and risk-based consensus. The solution is a method and system for the negotiation of smart contracts between participants in a blockchain network using game theory and cognitive capabilities on contextual information of the peers as well as on the security and trust risks and vulnerabilities. The implementation steps follow:
1. Collect data about all the consensus agreements and disagreements for a given peer/client/ledger
A. Type of transactions B. IP addresses from where the transactions were received
2. Determine the risk of the peers and other parties such as the ordering service, the privileged users (360-degree risk)
3. Analyze the semantics of the transaction payload 4. Determine the trust-worthiness of clients and peers 5. Game theory used for negotiation of contracts: each party negotiates the
contracts using the utility function of itself 6. Dynamic contract negotiation between participants is carried out using game
theory, trust, risk and confidence scores. Contracts maybe modified as part of this negotiation, and a final contract maybe generated.
7. Consensus protocol uses game the...