Blockchain consumer ledger
Disclosed herein are systems and methods for interacting with a consumer ledger. The systems and methods include: receiving a copy of the consumer ledger from one of a plurality of miners; adding a transaction to the consumer ledger; and transmitting the consumer ledger to the plurality of miners for conformation.
1. A method of interacting with a consumer ledger, the method comprising:
maintaining, by a computing device, a portion of a blockchain (BC) using a Practical Byzantine Fault Tolerance (PBFT) cryptographic scheme with at least two-thirds of a plurality of miners being verified to mine the BC and current miners actively participating on the BC rotate turns to create BC blocks on the BC;
receiving, by a computing device, a copy of the consumer ledger from one of the plurality of miners, wherein receiving the copy of the consumer ledger includes the computing device issuing a pull command requesting the copy of the consumer ledger from the BC in order to add a transaction to the consumer ledger;
adding, by the computing device, the transaction to the consumer ledger on the BC by a verified miner that is one of the plurality of miners and a member of a consumer loyalty program, the verified miner being one of a plurality of verified miners operated by a plurality of retailers or service providers and given a greater weight in verifying the transaction;
creating, by the computing device, a block on the BC using the transaction added to the consumer ledger;
transmitting, by the computing device, the block to the plurality of miners for conformation;
signing, by a majority of the plurality of miners, the block on the BC; and
speeding up a time taken to process the transaction, reducing latency of the transaction, and increasing network throughput for the transaction as compared to processing a conventional BC transaction by processing the method for the transaction.
2. The method of claim 1 , wherein the transaction includes a payment using loyalty rewards stored in a wallet application operating on the computing device.
3. The method of claim 1 , further comprising:
receiving, at the computing device, a credit of loyalty rewards;
updating the consumer ledger to confirm the addition of the credit of loyalty rewards; and
transmitting the consumer ledger to the plurality of miners for verification.
4. The method of claim 1 , wherein adding the transaction to the consumer ledger includes adding multiple transactions to the consumer ledger.
5. The method of claim 4 , wherein the multiple transactions include transactions across multiple loyalty rewards programs.
6. A system for interacting with a consumer ledger, the system comprising:
a processor; and
a memory storing instructions that, when executed by the processor, cause the processor to perform operations comprising:
maintaining, by a computing device, a portion of a blockchain (BC) using a Practical Byzantine Fault Tolerance (PBFT) cryptographic scheme with at least two-thirds of a plurality of miners being verified to mine the BC and current miners actively participating on the BC rotate turns to create BC blocks on the BC;
receiving a copy of the consumer ledger from a first one of the plurality of miners, wherein receiving the copy of the consumer ledger includes the computing device issuing a pull command requesting the copy of the consumer ledger from the BC in order to add a transaction to the consumer ledger,
adding the transaction to the consumer ledger on the BC by a second one of the plurality of miners, the second one of the plurality of miners being a verified miner operated by a plurality of retailers or service providers and given a greater weight in verifying the transaction,
creating a block on the BC using the transaction added to the consumer ledger,
transmitting the block to the plurality of miners for conformation;
receiving the block from a majority of the plurality of miners after the majority of the plurality of miners have signed the block on the BC; and
speeding up a time taken to process the transaction, reducing latency of the transaction, and increasing network throughput for the transaction as compared to processing a conventional BC transaction by processing the instructions for the transaction.
7. The system of claim 6 , wherein the transaction includes a payment using loyalty rewards stored in a wallet application operating on a portable computing device.
8. The system of claim 6 , further comprising:
receiving a credit of loyalty rewards;
updating the consumer ledger to confirm the addition of the credit of loyalty rewards; and
transmitting the consumer ledger to the plurality of miners for verification.
9. The system of claim 6 , wherein adding the transaction to the consumer ledger includes adding multiple transactions to the consumer ledger.
10. The system of claim 9 , wherein the multiple transactions include transactions across multiple loyalty rewards programs.
11. The system of claim 6 , wherein the processor and memory are components of a portable computing device.