System and method for authorizing blockchain network transactions
Systems and methods are provided that authorize blockchain network transactions based on a work requirement. A blockchain network has a plurality of nodes. At least one node of the plurality of nodes is configured to determine whether a token has satisfied a work requirement. The work requirement represents participation of performing work within the blockchain network. The at least one node is further configured to approve a transaction as a function of determining that the work requirement has been satisfied and, to disapprove the transaction as a function of determining that the work requirement has not been satisfied. By enabling the transaction to be approved based on a work requirement, the token, for example, can be authenticated as having an inherent functional value. In this way, the blockchain network or token exchange can attest to the token not being a security, which would be subject to federal securities and regulations.
1. A blockchain computer system comprising:
a blockchain computer network configured as a mainchain including a distributed electronic ledger, the mainchain having a plurality of computing nodes;
at least one of the plurality of computing nodes of the mainchain configured to interface with a plurality of sidechains computationally anchored to the mainchain;
the plurality of sidechains implemented using a plurality of sidechain computing nodes;
wherein at least one of the plurality of sidechain computing nodes is configured to cause a state change of a locked electronic utility token to be recorded in the distributed electronic ledger of the mainchain through a validation process in response to processing of a smart contract of the locked electronic utility token, the processing of the smart contract causing a computational attestation of completion of a work requirement by a first node of the plurality of computing nodes of the mainchain; and
wherein the state change of the locked electronic utility token computationally activates access for the first node of the plurality of computing nodes of the mainchain to resources in the blockchain computer network.
2. The blockchain computer system of claim 1 , wherein:
the first node of the plurality of computing nodes of the mainchain has a memory configured to execute a first digital wallet storing the locked electronic utility token;
the first node of the plurality of computing nodes of the mainchain is configured to perform computational work in the blockchain computer network, the computational work performed by the first node being recorded in the distributed electronic ledger of the mainchain; and
the at least one of the plurality of sidechain computing nodes is further configured to verify whether a threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain.
3. The blockchain computer system of claim 2 , wherein:
a second node of the plurality of computing nodes of the mainchain having has a memory configured to execute a second digital wallet;
the first node of the plurality of computing nodes of the mainchain is further configured to transmit the locked electronic utility token to the second digital wallet, the transmission of the locked electronic utility token being recorded in the distributed electronic ledger of the mainchain;
the second node of the plurality of computing nodes of the mainchain is configured to perform computational work in the blockchain computer network, the computational work performed by the second node being recorded in the distributed electronic ledger of the mainchain; and
the at least one of the plurality of sidechain computing nodes is further configured to verify whether the threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain and the computational work performed by the second node of the plurality of computing nodes of the mainchain.
4. The blockchain computer system of claim 2 , wherein the locked electronic utility token is configured to represent ownership of a digital asset, and wherein the threshold participation level is partially met if the first node of the plurality of computing nodes of the mainchain satisfies at least one consumptive use.
5. The blockchain computer system of claim 1 , wherein the computational attestation includes an anti-money laundering (AML)-type attestation or a know your customer (KYC) security-type attestation.
6. The blockchain computer system of claim 1 , wherein:
the resources in the blockchain computer network include a non-fungible token (NFT); and
the computational attestation is configured to attest to completion of a skill-based task by the first node of the plurality of computing nodes of the mainchain.
7. The blockchain computer system of claim 1 , wherein the at least one of the plurality of sidechain computing nodes is further configured to divert the processing of the smart contract of the locked electronic utility token to the plurality of sidechain computing nodes via a WebAssembly (WASM) binary instruction application programming interface (API).
8. The blockchain computer system of claim 1 , wherein:
the at least one of the plurality of sidechain computing nodes is further configured to divert the processing of the smart contract of the locked electronic utility token to the plurality of sidechain computing nodes; and
at least one sidechain computing node of the plurality of sidechain computing nodes uses a trusted execution environment (TEE) to process instructions from the smart contract of the locked electronic utility token.
9. The blockchain computer system of claim 8 , wherein the at least one of the plurality of sidechain computing nodes is further configured to divert data storage and access requests from the mainchain to the plurality of sidechain computing nodes.
10. The blockchain computer system of claim 1 , wherein the at least one of the plurality of sidechain computing nodes is further configured to divert data storage and access requests from the mainchain to the plurality of sidechain computing nodes.
11. The blockchain computer system of claim 1 , wherein:
the computational attestation is based on participation of a user in a blockchain-based game.
12. The blockchain computer system of claim 11 , wherein:
the blockchain-based game is between at least one influencer and at least one fan of the at least one influencer; and
the user has a role of a fan of the at least one fan or an influencer of the at least one influencer in the blockchain-based game.
13. The blockchain computer system of claim 12 , wherein:
the blockchain-based game includes the locked electronic utility token; and
the participation includes engaging with the at least one influencer in the blockchain-based game to earn a non-fungible token (NFT) associated with the at least one influencer.
14. The blockchain computer system of claim 1 , wherein:
the computational attestation is based on a level of a user account of a user having achieved a participation level, the participation level achieved via use of the locked electronic utility token by the user in a blockchain-based game, the blockchain-based game including the locked electronic utility token.
15. The blockchain computer system of claim 1 , wherein the at least one of the plurality of sidechain computing nodes is further configured to:
verify whether a threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain;
approve a transaction in response determining that the threshold participation level is met, the transaction including activation or trade of the locked electronic utility token; and
disapprove the transaction in response to determining that the threshold participation level is not met.
16. The blockchain computer system of claim 1 , wherein the at least one of the plurality of sidechain computing nodes is further configured to:
verify whether a threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain; and
responsive to determining that the threshold participation level is met, unlock use of the locked electronic utility token.
17. The blockchain computer system of claim 1 , wherein the at least one of the plurality of sidechain computing nodes is further configured to:
verify whether a threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain; and
responsive to determining that the threshold participation level is met, activate at least one digital asset exchange mechanism for a blockchain-based game.
18. The blockchain computer system of claim 1 , wherein:
the resources in the blockchain computer network include at least one of: an application, a service, a work contribution ability.
19. A computer-implemented method comprising:
causing, by at least one of a plurality of sidechain computing nodes, the plurality of sidechain computing nodes implementing a plurality of sidechains computationally anchored to a mainchain as which a blockchain computer network is configured, a state change of a locked electronic utility token to be recorded in a distributed electronic ledger of the mainchain through a validation process in response to processing of a smart contract of the locked electronic utility token, the processing of the smart contract causing a computational attestation of completion of a work requirement by a first node of a plurality of computing nodes of the mainchain, at least one of the plurality of computing nodes of the mainchain configured to interface with the plurality of sidechains;
wherein the state change of the locked electronic utility token computationally activates access for the first node of the plurality of computing nodes of the mainchain to resources in the blockchain computer network.
20. The computer-implemented method of claim 19 ,
wherein:
the first node of the plurality of computing nodes of the mainchain has a memory configured to execute a first digital wallet storing the locked electronic utility token; and
the first node of the plurality of computing nodes of the mainchain is configured to perform computational work in the blockchain computer network, the computational work performed by the first node being recorded in the distributed electronic ledger of the mainchain; and
further comprising:
verifying, by the at least one of the plurality of sidechain computing nodes, whether a threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain.
21. The computer-implemented method of claim 20 ,
wherein:
a second node of the plurality of computing nodes of the mainchain has a memory configured to execute a second digital wallet;
the first node of the plurality of computing nodes of the mainchain is further configured to transmit the locked electronic utility token to the second digital wallet, the transmission of the locked electronic utility token being recorded in the distributed electronic ledger of the mainchain; and
the second node of the plurality of computing nodes of the mainchain is configured to perform computational work in the blockchain computer network, the computational work performed by the second node being recorded in the distributed electronic ledger of the mainchain; and
further comprising:
verifying, by the at least one of the plurality of sidechain computing nodes, whether the threshold participation level is met by the computational work performed by the first node of the plurality of computing nodes of the mainchain and the computational work performed by the second node of the plurality of computing nodes of the mainchain.
22. The computer-implemented method of claim 20 , wherein the locked electronic utility token is configured to represent ownership of a digital asset, and wherein the threshold participation level is partially met if the first node of the plurality of computing nodes of the mainchain satisfies at least one consumptive use.
23. The computer-implemented method of claim 19 , wherein the computational attestation includes an anti-money laundering (AML)-type attestation or a know your customer (KYC) security-type attestation.
24. The computer-implemented method of claim 19 , wherein:
the resources in the blockchain computer network include a non-fungible token (NFT); and
the computational attestation is configured to attest to completion of a skill-based task by the first node of the plurality of computing nodes of the mainchain.
25. The computer-implemented method of claim 19 , further comprising:
diverting, by the at least one of the plurality of sidechain computing nodes, the processing of the smart contract of the locked electronic utility token to the plurality of sidechain computing nodes via a WebAssembly (WASM) binary instruction application programming interface (API).
26. The computer-implemented method of claim 19 , further comprising:
diverting, by the at least one of the plurality of sidechain computing nodes, the processing of the smart contract of the locked electronic utility token to the plurality of sidechain computing nodes;
wherein at least one sidechain computing node of the plurality of sidechain computing nodes uses a trusted execution environment (TEE) to process instructions from the smart contract of the locked electronic utility token.
27. The computer-implemented method of claim 26 , further comprising:
diverting, by the at least one of the plurality of sidechain computing nodes, data storage and access requests from the mainchain to the plurality of sidechain computing nodes.
28. The computer-implemented method of claim 19 , further comprising:
diverting, by the at least one of the plurality of sidechain computing nodes, data storage and access requests from the mainchain to the plurality of sidechain computing nodes.