Method and System for Securing a Blockchain with Proof-of-Transactions

Abstract

Novel tools and techniques are provided for implementing blockchain transactions, and, more particularly, to methods, systems, and apparatuses for securing a blockchain with proof-of-transactions. In various embodiments, the blockchain system utilizes a proof-of-transactions approach that is based on a multi-player voting system and that is not susceptible to a free-rider problem that affects many other cryptocurrencies. The proof-of-transactions approach allows the cryptocurrency network to divide revenue between the nodes in the peer-to-peer network that provides bandwidth and connectivity and a set of other nodes that solve computational puzzles that safeguard the security of the blockchain system.

What is claimed is: 
     
         1 . A method, comprising:
 pruning, by one or more first nodes among a plurality of nodes within a blockchain network, transaction slips in blocks in a blockchain preceding an arbitrary block identified according to consensus rules of the blockchain;   calculating, by the one or more first nodes among the plurality of nodes within the blockchain network, a value of all unspent tokens contained in all unpruned blocks preceding and including the last block being pruned; and   adjusting a monetary policy of the blockchain network so that the blockchain network will reintroduce the unspent tokens as tokens allocated in future blocks.   
     
     
         2 . The method of  claim 1 , wherein the unspent tokens are reintroduced back into the blockchain network in a later block through use of golden tickets. 
     
     
         3 . The method of  claim 2 , wherein the golden tickets are generated by one or more second nodes among the plurality of nodes. 
     
     
         4 . The method of  claim 3 , wherein each golden ticket contains a computational puzzle. 
     
     
         5 . The method of  claim 4 , wherein tokens allocated through the use of golden tickets are split between one or more third nodes among the plurality of nodes (“lucky miners”) that have provided solutions to the computational puzzles that are contained in the golden tickets and one or more fourth nodes among the plurality of nodes (“lucky nodes”) that are selected by one or more of the solutions to the computational puzzles. 
     
     
         6 . The method of  claim 5 , wherein distribution of the tokens split between lucky miners and lucky nodes is determined by a paysplit variable managed according to consensus rules of the blockchain. 
     
     
         7 . The method of  claim 4 , wherein a difficulty of each computational puzzle is determined using a difficulty variable managed according to consensus rules of the blockchain. 
     
     
         8 . A node among a plurality of nodes in a blockchain network, the node comprising:
 at least one processor; and   a non-transitory computer readable medium communicatively coupled to the at least one processor, the non-transitory computer readable medium having stored thereon computer software comprising a set of instructions that, when executed by the at least one processor, causes the node to:
 prune transaction slips in blocks in a blockchain preceding an arbitrary block identified according to consensus rules of the blockchain; 
 calculate a value of all unspent tokens contained in all unpruned blocks preceding and including the last block being pruned; and 
 adjust a monetary policy of the blockchain network so that the blockchain network will reintroduce the unspent tokens as tokens allocated in future blocks. 
   
     
     
         9 . The node of  claim 8 , wherein the unspent tokens are reintroduced back into the blockchain network in a later block through use of golden tickets. 
     
     
         10 . The node of  claim 9 , wherein the golden tickets are generated by one or more second nodes among the plurality of nodes. 
     
     
         11 . The node of  claim 10 , wherein each golden ticket contains a computational puzzle. 
     
     
         12 . The node of  claim 11 , wherein tokens allocated through the use of golden tickets are split between one or more third nodes among the plurality of nodes (“lucky miners”) that have provided solutions to the computational puzzles that are contained in the golden tickets and one or more fourth nodes among the plurality of nodes (“lucky nodes”) that are selected by one or more of the solutions to the computational puzzles. 
     
     
         13 . The node of  claim 12 , wherein distribution of the tokens split between lucky miners and lucky nodes is determined by a paysplit variable managed according to consensus rules of the blockchain. 
     
     
         14 . The node of  claim 11 , wherein a difficulty of each computational puzzle is determined using a difficulty variable managed according to consensus rules of the blockchain. 
     
     
         15 . A system, comprising:
 a first node among a plurality of nodes in a blockchain network, the first node comprising:
 at least one first processor; and 
 a first non-transitory computer readable medium communicatively coupled to the at least one processor, the first non-transitory computer readable medium having stored thereon computer software comprising a first set of instructions that, when executed by the at least one first processor, causes the first node to:
 prune transaction slips in blocks in a blockchain preceding an arbitrary block identified according to consensus rules of the blockchain; 
 calculate a value of all unspent tokens contained in all unpruned blocks preceding and including the last block being pruned; and 
 adjust a monetary policy of the blockchain network so that the blockchain network will reintroduce the unspent tokens as tokens allocated in future blocks. 
 
   
     
     
         16 . The system of  claim 15 , further comprising:
 a second node among the plurality of nodes in the blockchain network, the second node comprising:
 at least one second processor; and 
 a second non-transitory computer readable medium communicatively coupled to the at least one processor, the second non-transitory computer readable medium having stored thereon computer software comprising a second set of instructions that, when executed by the at least one second processor, causes the second node to:
 generate one or more golden tickets; 
 wherein the unspent tokens are reintroduced back into the blockchain network in a later block through use of the one or more generated golden tickets. 
 
   
     
     
         17 . The system of  claim 16 , wherein each golden ticket contains a computational puzzle. 
     
     
         18 . The system of  claim 17 , wherein tokens allocated through the use of golden tickets are split between one or more third nodes among the plurality of nodes (“lucky miners”) that have provided solutions to the computational puzzles that are contained in the golden tickets and one or more fourth nodes among the plurality of nodes (“lucky nodes”) that are selected by one or more of the solutions to the computational puzzles. 
     
     
         19 . The system of  claim 18 , wherein distribution of the tokens split between lucky miners and lucky nodes is determined by a paysplit variable managed according to consensus rules of the blockchain. 
     
     
         20 . The system of  claim 17 , wherein a difficulty of each computational puzzle is determined using a difficulty variable managed according to consensus rules of the blockchain.