RTM: Blockchain That Support Revocable Transaction Model
This addresses the need for transaction revocation in blockchain applications, such as for users affected by mis-operations or fraud, but it appears incremental as it builds on existing blockchain technologies.
The authors tackled the problem of revoking incorrect account operations in blockchain systems by proposing GateChain, a blockchain that supports a revocable transaction model, enabling safe withdrawal of account status changes with functional completeness, easy deployment, and lower complexity.
In many typical application scenarios, it is necessary to revoke the incorrect account operations caused by user mis-operation, financial fraud, illegal hacking, etc. Unfortunately, users often blur the lines between the concept of "transaction state revocable" and "business status revocable", which result in revocable transaction not universally supported in blockchain systems at present. In this work, we propose GateChain , a blockchain that support revocable transaction model (RTM) on distributed ledger. Specifically, based on the state-of-the-art blockchain technologies, GateChain can safely withdraw the account status change operations by leveraging an improved account model and extra designed transaction types. On that basis, GateChain exploit the characteristics of functional completeness, easy to deployment and lower complexity.