Permissioned blockchain-oriented transaction fee management system.
Large-scale permissioned blockchain systems usually lack built-in economic incentives for participating enterprises, resulting in inactive service providers and platform failures, like We.Trade. There is no commercial solution to this problem at present. Based on economic theories, we introduce transaction fees into a permissioned blockchain framework to encourage participants to diligently participate in service contributions. Our transaction fee management solution decouples fee determination, fee schemes and payoff allocation to offer permissioned blockchains diverse and flexible economic incentives. Clients can customise their transaction fee mechanism. We will also offer plug-in services for mainstream permissioned blockchain frameworks. Clients will be able to flexibly adjust their transaction fee mechanisms with our solution.
Mr Shi Rui* (PhD student, Department of Information Systems, City University of Hong Kong)
Miss Shi Zhuzhi (National University of Singapore)
* Person-in-charge
(Info based on the team's application form)
- CityU HK Tech 300 Seed Fund (2023)