Study Guide for Blockchain Service Processing

What three types of blockchain technology are usually divided into? Describe the characteristics of each type.

What is a smart contract? How is a smart contract executed in the Ethereum network?

What are the two main types of Ethereum accounts? What is the difference between them?

In some blockchain projects, how can non-monetary physical assets in the real world be converted into virtual assets?

Explain what the extended meaning of the "Balance" field is in some blockchain projects?

What is a cross-chain relay? What role does it play in blockchain service processing?

Explain the role of Oracle in blockchain service processing.

In blockchain service processing, how can cross-chain technology be used to integrate asset exchange services of multiple asset service agencies?

What is the execution process of the target transaction on the service blockchain?

Describe a method for implementing cross-chain service processing without deploying smart contracts on the service blockchain.

Answer

Blockchain technology is usually divided into three types:

Public chain: The highest degree of decentralization, anyone can join the network, read data, participate in transactions and compete for bookkeeping rights, such as Bitcoin and Ethereum.

Private chain: The write permission is controlled by a certain organization or institution, and the data reading permission is also regulated by the organization. It is suitable for internal use of a specific institution, such as the blockchain system within an enterprise.

Consortium chain: Between the public chain and the private chain, it realizes "partial decentralization". Each node usually represents an entity or organization, and jointly maintains the operation of the blockchain, such as a blockchain system jointly established by multiple banks.

A smart contract is a piece of code stored on the blockchain that can be triggered by a transaction. In the Ethereum network, smart contracts are executed by the Ethereum Virtual Machine (EVM). After the user sends a transaction containing the smart contract code, each node will execute the transaction in the local EVM, run the smart contract code and update the status of the relevant account.

Ethereum accounts are mainly divided into two types: external accounts and contract accounts. External accounts are directly controlled by users, while contract accounts contain smart contract codes and are created by users through external accounts.

In some blockchain projects, non-monetary physical assets in the real world can be anchored to virtual assets on the blockchain. First, the physical assets and virtual assets are value-anchored, and then virtual assets matching the value of the physical assets are generated on the blockchain. These virtual assets can circulate between blockchain accounts.

In some blockchain projects, the meaning of the "Balance" field is no longer the "balance" of the account, but is used to store the address information of the asset account corresponding to the "virtual assets" held by the account.

Cross-chain relay refers to a bridge connecting different blockchains to achieve data synchronization and interoperability between different blockchains. In blockchain service processing, cross-chain relay can connect the service blockchain with the asset blockchain, enabling the service blockchain to call the asset exchange service on the asset blockchain.

Oracle is a bridge connecting the blockchain and off-chain data, which synchronizes the real-world data to the blockchain. In blockchain service processing, the oracle can synchronize the asset exchange service of the asset service agency to the service blockchain.

The service blockchain can be connected to multiple asset blockchains through cross-chain technology, thereby integrating the asset exchange services of multiple asset service agencies. The service blockchain can call the asset exchange services on different asset blockchains through cross-chain relay, thereby obtaining the exchange capability of multiple assets, without the need to deploy the asset exchange service separately on the service blockchain.

The execution process of the target transaction on the service blockchain:

The service system sends the target transaction to the service blockchain.

The nodes on the service blockchain perform consensus processing on the target transaction.

After reaching a consensus, the target transaction is packaged into blocks and stored in the blockchain.

The node executes the target transaction and calls the cross-chain processing logic in the smart contract.

The cross-chain processing logic determines the target asset blockchain and calls the asset exchange service through the cross-chain relay.

After the asset exchange service completes the asset exchange processing, it stores the asset exchange certificate on the asset blockchain.

The smart contract on the service blockchain obtains the asset exchange certificate through the cross-chain relay.

The smart contract executes the subsequent service processing logic according to the asset exchange certificate.

The service blockchain can be connected to the server of the asset service agency through an oracle. When the service system needs to execute a service target service that requires an asset exchange service, it can call the asset exchange service on the server of the asset service agency through an oracle and store the asset exchange certificate on the service blockchain. The service system can monitor the data on the service blockchain and perform subsequent service processing once the asset exchange certificate is detected.

Thesis title

Compare and contrast the advantages and disadvantages of using cross-chain relays and oracles in blockchain service processing.

Discuss how to design a secure and scalable cross-chain service processing system to meet the needs of complex business applications in the real world.

Analyze the legal and regulatory challenges of converting non-monetary physical assets in the real world into virtual assets on the blockchain.

Explore the application scenarios and case studies of blockchain service processing in supply chain finance, digital identity, healthcare and other fields.

Propose specific solutions and suggestions for improving the efficiency and security of cross-chain service processing for existing blockchain platforms and technologies.

Keyword explanation

Blockchain: A distributed database technology that uses cryptography to ensure data security and immutability.

Smart Contract: A piece of code stored on the blockchain that can be triggered by transactions and automatically executed.

Ethereum Virtual Machine (EVM): A virtual machine in the Ethereum network that executes smart contract code.

Asset Account: A special blockchain account used to store and manage virtual assets.

Cross-chain Relay: A bridge connecting different blockchains to achieve data synchronization and interoperability between different blockchains.

Oracle: A bridge connecting blockchain and off-chain data, which synchronizes real-world data to the blockchain.

Asset Exchange Service: A service provided by an asset service agency to complete asset exchanges between different service accounts.

Target Transaction: A transaction used to trigger the execution of a target service that requires an asset exchange service.

Asset Exchange Credential: A credential generated by the asset exchange service after the asset exchange process is completed, used to prove the completion of the asset exchange.