Intel, a leading computing company, filed a patent seeking to protect a unique way of validating transactions conducted on a distributed ledger. According to the patent filing, Intel specifies how it has identified a means through which they can partition and update distributed ledgers automatically. At the same time, a processor tasked with verifying the validity of the new blocks is attached to the distributed ledger.
The new mechanism by Intel significantly differs from the conventional methods employed by populated and advanced blockchain networks such as the Bitcoin distributed ledger. Bitcoin usually depends on a network of several computers competing to validate and update cryptographic transactions in exchange for rewards.
Automatic DLT Block Verification Mechanism: How It Works
Firstly, a first validation node (FVN) receives a block record that includes a digital signature from a second validation node (SVN). After this, the FVN automatically obtains the SVN’s node identifier using the digital signature. The node identifier assist the FVN in assessing the original validation group of the particular SVN, and if it is similar to that of the FVN.
Moreover, the FVN leverages an attestation services to ascertain whether the node identifier for an individual SVN originates from a node whose processor is trustworthy. Also, the FVN checks the digital signature toss evaluate if its parent private key aligns with the node identifier of the SVN.
Every node within the distributed ledger systems will use a trusted execution hardware to generate a unique, inimitable node identifier for itself. The node identifiers are afterwards used to divide nodes into validation groups, which are essentially subsets of the distributed ledger.
The application clearly defines the differences between distributed ledgers and blockchains, though it acknowledges that most blockchain are also distributed ledgers. For it to work, it requires physical computers to be pre-programmed with specific parameters that define the authentication of valid distributed ledger blocks. Nevertheless, in regard to the prevalent scalability challenges facing existing blockchains, the patent filing states that distributed ledgers are not a surefire alternative storage mechanism.
Specifically, the application notes that distributed ledgers have characteristic scalability issues. This is as a result of the creation of large numbers of messages within the networks during the validation process. These messages originate from the broadcasting of transaction confirmations to each node connected to the distributed ledger system.
Additionally, the application further states that the overwhelming quantity of confirmation messages is likely to result in consumption of enormous storage capacities. Consequently, distributed ledger systems are unlikely to scale efficiently.