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 computer-based system comprising:
a first computer network having a first set of computing nodes, the first computer network including an electronic ledger; and
a plurality of secondary computer networks implemented via a second set of computing nodes;
wherein at least one of the first set of computing nodes is configured to interface with the plurality of secondary computer networks;
at least one of the second set of computing nodes (i) includes at least one processor and (ii) is configured to cause a state change of a locked electronic token to be recorded in the electronic ledger through a validation process in response to processing of a smart contract of the locked electronic token, the processing of the smart contract causing a computational attestation of completion of a work requirement by a first computing node of the first set of computing nodes; and
the state change of the locked electronic token computationally activates access for the first computing node to resources in the first computer network.
2. The computer-based system of claim 1 , wherein:
the first computing node has a memory, the memory configured to execute a first digital wallet storing the locked electronic token;
the first computing node is configured to perform computational work in the first computer network, where the computational work is recorded in the electronic ledger;
and
the at least one of the second set of computing nodes is further configured to verify whether a threshold time participation level is met by the computational work performed by the first computing node.
3. The computer-based system of claim 2 , wherein:
a second computing node of the first set of computing nodes has a memory, the memory configured to execute a second digital wallet;
the first computing node is further configured to transmit the locked electronic token to the second digital wallet, where the transmission is recorded in the electronic ledger;
the second computing node is configured to perform computational work in the first computer network, where the computational work is recorded in the electronic ledger; and
the at least one of the second set of computing nodes is further configured to verify whether the threshold time participation level is met by the computational work performed by the first computing node and the computational work performed by the second computing node.
4. The computer-based system of claim 2 , wherein the locked electronic token is configured to represent ownership of a digital asset, and wherein the threshold time participation level is partially met if the first computing node satisfies at least one consumptive use.
5. The computer-based system of claim 2 , wherein a participation by the first computing node includes participation while the at least one of the second set of computing nodes is in possession of an electronic token.
6. The computer-based system of claim 2 , wherein a participation by the first computing node includes referencing at least one address that identifies a network resource accessible by the at least one of the second set of computing nodes via the first computer network.
7. The computer-based system of claim 1 , wherein the computational attestation includes an anti-money laundering (AML) type attestation, a know your customer (KYC) security type attestation, or a combination thereof.
8. The computer-based system of claim 1 , wherein:
the resources include a non-fungible token (NFT); and
the computational attestation is configured to attest to completion of a skill-based task by the first computing node.
9. The computer-based system of claim 1 , wherein the at least one of the second set of computing nodes is further configured to divert the processing of the smart contract to the second set of computing nodes via a WebAssembly (WASM) binary instruction application programming interface (API).
10. The computer-based system of claim 1 , wherein:
the at least one of the second set of computing nodes is further configured to divert the processing of the smart contract to the second set of computing nodes; and
at least another of the second set of computing nodes uses a trusted execution environment (TEE) to process instructions from the smart contract.
11. The computer-based system of claim 1 , wherein the at least one of the second set of computing nodes is further configured to divert data storage and access requests from the first computer network to the second set of computing nodes.
12. A computer-implemented method comprising:
by at least one of a second set of computing nodes, the second set of computing nodes implementing a plurality of secondary computer networks to which at least one of a first set of computing nodes is configured to interface, the first set of computing nodes belonging to a first computer network:
causing a state change of a locked electronic token to be recorded in an electronic ledger of the first computer network through a validation process in response to processing of a smart contract of the locked electronic token;
responsive to the processing of the smart contract, causing a computational attestation of completion of a work requirement by a first computing node of the first set of computing nodes; and
responsive to the state change of the locked electronic token, computationally activating access for the first computing node to resources in the first computer network.
13. The computer-implemented method of claim 12 , further comprising:
via a memory of the first computing node, executing a first digital wallet configured to store the locked electronic token;
via the first computing node, performing computational work in the first computer network, wherein the computational work is recorded in the electronic ledger; and
via the at least one of the second set of computing nodes, verifying whether a threshold time participation level is met by the computational work performed by the first computing node.
14. The computer-implemented method of claim 13 , further comprising:
via a memory of a second computing node of the first set of computing nodes, executing a second digital wallet;
via the first computing node, transmitting the locked electronic token to the second digital wallet, wherein the transmission is recorded in the electronic ledger;
via the second computing node, performing computational work in the first computer network, wherein the computational work is recorded in the electronic ledger;
and
via the at least one of the second set of computing nodes, verifying whether the threshold time participation level is met by the computational work performed by the first computing node and the computational work performed by the second computing node.
15. The computer-implemented method of claim 13 , further comprising:
configuring the locked electronic token to represent ownership of a digital asset;
wherein the threshold time participation level is partially met if the first computing node satisfies at least one consumptive use.
16. The computer-implemented method of claim 13 , further comprising:
via the first computing node, participating while the at least one of the second set of computing nodes is in possession of an electronic token.
17. The computer-implemented method of claim 13 , further comprising:
via the first computing node, participating by referencing at least one address that identifies a network resource accessible by the at least one of the second set of computing nodes via the first computer network.
18. The computer-implemented method of claim 12 , wherein the computational attestation includes an anti-money laundering (AML) type attestation, a know your customer (KYC) security type attestation, or a combination thereof.
19. The computer-implemented method of claim 12 , wherein the resources include a non-fungible token (NFT), and further comprising:
configuring the computational attestation to attest to completion of a skill-based task by the first computing node.
20. The computer-implemented method of claim 12 , further comprising:
via the at least one of the second set of computing nodes, diverting the processing of the smart contract to the second set of computing nodes via a WebAssembly (WASM) binary instruction application programming interface (API).
21. The computer-implemented method of claim 12 , further comprising:
via the at least one of the second set of computing nodes, diverting the processing of the smart contract to the second set of computing nodes;
wherein at least another of the second set of computing nodes uses a trusted execution environment (TEE) to process instructions from the smart contract.
22. The computer-implemented method of claim 12 , further comprising:
via the at least one of the second set of computing nodes, diverting data storage and access requests from the first computer network to the second set of computing nodes.