Systems and methods for blockchain rule synchronization
AssigneeChicago Mercantile Exchange Inc.
InventorsRyan Pierce, Ajay Madhavan, Stanislav Liberman, Mansoor Ahmed
Life of this patent
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Abstract
The disclosed embodiments relate to implementation of a syntax for altering one or more rules by which a blockchain may be modified wherein the software implementing each client of a blockchain network are programmed to be responsive to requests or directives to alter one or more rules by which blocks may be added to a blockchain responsive to transactions received for storage therein, the requests/directives being processed by the client as a transaction and added to the block in accordance with the current state of the operating rules, thereby adding a new rule or modifying an existing rule for subsequent operation of the client.
Claims20
A method for synchronizing rule changes in a system which implements a blockchain for transactions of a digital asset, the method comprising:
- receiving, by a processor, a data message comprising data indicative of a change to operation of the system with respect to authorized participants permissioned to hold, transact, or hold and transact the digital asset;
- determining, by the processor, that the data message is valid according to one or more rules of the blockchain and a list of authorized participants stored in the blockchain;
- generating, by the processor, a transaction in a new block comprising at least the data indicative of the change to the operation of the system to the blockchain;
- and
- communicating, by the processor, data indicative of the new block to other systems implementing the blockchain;
- and
- wherein transactions for the digital asset received subsequent to the new block are subject to the one or more rules of the blockchain and limited to participants of the list of authorized participants that are permissioned to hold, transact, or hold and transact the digital asset.
A method for validating transactions in a system that implements a blockchain, the method comprising:
- receiving, by a processor, a data message comprising a transaction to be implemented by the blockchain;
- determining, by the processor, a list of authorized participants stored in a plurality of blocks of the blockchain;
- determining, by the processor, if the transaction is valid according to the list of authorized participants;
- generating, by the processor, a new block of the blockchain including the transaction;
- and
- communicating, by the processor, data indicative of the new block to other systems implementing the blockchain.
A system for facilitating interaction with a shared data structure, stored in a memory, by a plurality of authorized participants, the system comprising:
- a transaction receiver, coupled with a network interface, operative to receive a data transaction message from an authorized participant of the plurality of authorized participants, the data transaction message comprising change data relating to a removal or addition of a participant to the plurality of authorized participants;
- a validation processor, coupled to the transaction receiver, operative to determine based on a set of validation rules stored in the memory and the change data whether the data transaction message is a valid transaction;
- a data structure generator, coupled to the transaction receiver, operative to generate a new data structure of the shared data structure containing at least the change data;
- and
- a transmitter, coupled to the data structure generator, operative to transmit the new data structure to the plurality of participants of the shard data structure.
Dependencies are inferred from the claim text.