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Encrypted currency multi-channel payment method based on smart contract

A smart contract and multi-channel technology, applied in the payment system, payment circuit, payment system structure, etc., can solve problems such as limiting transaction efficiency and overload, and achieve the effect of protecting privacy, high response, and solving micro-payment problems

Inactive Publication Date: 2020-02-04
ZHEJIANG GONGSHANG UNIVERSITY
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  • Description
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  • Application Information

AI Technical Summary

Problems solved by technology

[0006] To sum up, there is an urgent need for a safe and efficient cryptocurrency payment method to improve the efficiency and security of blockchain transactions. There are some problems with the current cryptocurrency payment method: (1) The traditional bitcoin payment can only process about 7TPS, and need to wait for 6 blocks to confirm the transaction, which limits the efficiency of the transaction; (2) Lightning Network also raises some other problems, such as overload and privacy issues, while improving the efficiency of cryptocurrency payment

Method used

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  • Encrypted currency multi-channel payment method based on smart contract
  • Encrypted currency multi-channel payment method based on smart contract
  • Encrypted currency multi-channel payment method based on smart contract

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Embodiment Construction

[0031] In order to describe the present invention more specifically, the technical solutions of the present invention will be described in detail below in conjunction with the accompanying drawings and specific embodiments.

[0032] The present invention encourages all intermediate nodes to be online all the time through beacon election and route search algorithm, improves the entire network topology and transaction capability, and adopts the price distribution module (VDP) and smart contract D-HTLC to solve the overload and privacy of single-channel payment Problems, improve the security of the validity of the payment. Specifically, a successful multi-channel payment includes beacon election, routing path search, price allocation, and smart contract D-HTLC. The process is as follows: figure 1 shown.

[0033] The present invention solves the overload problem through multi-channel payment, such as figure 2 As shown, specifically, deposits in each payment channel are represen...

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Abstract

The invention provides an encrypted currency multi-channel payment method based on a smart contract. Encrypted currency multi-channel payment is realized through a beacon election algorithm, a routingpath search algorithm, a price allocation algorithm and an intelligent contract D-HTLC. The method specifically comprises the steps of constructing a beacon election module, constructing a routing path search module, constructing a price allocation module and constructing an intelligent contract D-HTLC module. According to the method, a multi-channel payment mechanism of the cryptocurrency is realized, the overload problem and the privacy problem of single-channel payment are solved, the efficiency and the safety of cryptocurrency payment are ensured, and the method not only has good universality and practical value, but also is suitable for all payment in a block chain Layer 2 network.

Description

technical field [0001] The invention belongs to the technical field of blockchain encrypted currency transactions, and in particular relates to a smart contract-based encrypted currency multi-channel payment method. Background technique [0002] In recent years, blockchain technology and cryptocurrency technology have been popularized in industry and academia. As of the beginning of 2018, the total cryptocurrency market has reached 490 billion US dollars. Encrypted currency is a technology that runs on the blockchain. In other words, encrypted currency and blockchain are organically combined and are closely connected. Blockchain is the basic technology of encrypted currency; encryption is usually in the block Necessary for transactions to take place on-chain, however, without a blockchain, these transactions cannot be recorded and transferred. [0003] A blockchain is an ever-growing list of records and blocks that are linked using cryptography; a blockchain is a cryptocurr...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q20/06G06Q20/10G06Q20/38G06F21/60
CPCG06Q20/065G06Q20/102G06Q20/382G06Q20/3827G06Q20/3829G06F21/602
Inventor 刘振广林昶廷钱鹏黄步添王勋
Owner ZHEJIANG GONGSHANG UNIVERSITY
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