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LinkEye: A Blockchain-Based Credit Information Platform

Linkeye is a personal credit information data platform built on the tamper-proof and decentralized technology of blockchain. Its aim is to integrate and share credit information from various financial institutions, such as P2P and cash loan providers, to reduce the credit investigation costs for each platform, increase the accuracy of credit information, and ultimately achieve the goal of reducing bad debts and establishing a healthy operating environment.

Project Introduction

LinkEye is a blockchain-based, independently developed credit information sharing alliance chain solution. With a presence in China, Southeast Asia, and Europe, LinkEye deeply integrates blockchain technology and credit economic models to share blacklisted individuals' information among alliance members. This effectively connects isolated credit data silos, creating a comprehensive and reliable credit database that spans the entire society. This promotes and improves the social credit system, ultimately achieving equality for all in the eyes of credit.

The LinkEye team possesses extensive experience in both the credit industry and the blockchain field. They have accurately identified the core entry point for a credit information alliance and designed and developed a highly efficient blockchain credit information sharing platform. This platform employs mechanisms like a blacklist system (masking + signature), alliance member entry mechanisms, member credit mechanisms, arbitration mechanisms, information sharing mechanisms, intelligent pricing mechanisms, data security firewalls, and open network query interfaces to ensure the platform's efficient and orderly development.

LinkEye has already established strategic partnerships with numerous leading Chinese credit platforms, sharing access to their core blacklisted individual information. They are also expanding collaborations with financial institutions in Southeast Asia, Europe, and other regions to collectively develop a blockchain credit information alliance.

Project Highlights

Based on Blockchain Technology

Traditional data centers typically store data on a central node. This central node is entirely controlled by the data center, which can freely modify or delete this data. This creates a risk of the data center selling false data, tampering with data, or deleting data for profit. The current data alliance model generally involves multiple small data centers relying on a large data center, exchanging data between them. This model lacks mutual trust between small data centers, as all data exchange occurs through the large data center. Ultimately, the large data center retains control over all the data.

Blockchain is a decentralized distributed data storage technology. Its core value lies in creating a secure and trustworthy system that allows institutions or individuals who distrust each other to interact with information and data in a trustworthy manner, without the need for a central authority. Using cryptographic techniques, distributed consistency protocols, consensus protocols, and peer-to-peer network communication, blockchain ensures data cannot be tampered with or deleted.

LinkEye utilizes blockchain technology, ensuring that once credit information is published on the chain, it can never be deleted or modified. At the same time, each data center can trustingly share data.

Deep Industry Insight

The LinkEye team consists of professional financial professionals with extensive experience in traditional finance. They are also pioneers in the development of internet finance in recent years, demonstrating a strong understanding of the generation of credit data and its application in a mobile-connected society. This provides them with a scientific and clear understanding of the project's feasibility, implementation, and development.

Successful Experience

The LinkEye team has over 3 years of project experience and boasts first-class risk control, operations, business, product, and development capabilities. They have collaborated with over 1000 third-party financial companies, successfully operated a payment platform with over 5 billion in monthly transaction volume, and successfully operated a credit platform with millions of users. Their expertise in this domain is undeniable.

The team boasts a wealth of accumulated experience. Members include participants in the first batch of blockchain projects and the first batch of internet finance projects, possessing extensive industry experience. They have a deep understanding of blockchain and credit information, allowing them to accurately grasp key industry aspects. The team possesses unique expertise in using blockchain to address real-world problems in financial credit information.

Resource Advantage

The core of building a blockchain-based credit information alliance lies in expanding the number of high-quality members and the amount of high-quality data. The LinkEye team has been deeply involved in the credit industry for many years. Combining the LinkEye project's philosophy and technological advantages, strategic partnerships have been established with leading Chinese and Southeast Asian credit institutions since the project's inception. The initial data accumulation has reached the million level and continues to expand rapidly, allowing for the accumulation of tens of millions of data points in the initial stages of the project.

Technical Advantages

Currently, most blockchain projects are public chains or alliance chains. Public chains are relatively mature and receive significant community support due to their economic model that incentivizes participation. However, they often have poor performance, lack access control, and information is completely public. Alliance chains are more commonly used in business alliance scenarios. They often compromise decentralization and accessibility in their architectural design to achieve performance and security improvements.

LinkEye's cross-regional credit information service is complex and requires consideration of multiple non-technical and technical factors, including legal, cultural, geographic, scalability, security, and stability. Core requirements include:

• Regional differences in legal, regulatory, and cultural frameworks.

• Optimized governance mechanisms for multi-center collaboration.

• Performance requirements like throughput and latency.

• Accessibility and usability.

• Security and privacy.

• System adjustment and repair mechanisms.

Given these challenges, existing mature blockchain solutions cannot meet LinkEye's business and technical requirements. A completely new solution must be designed based on the needs of the supporting business scenarios.

LinkEye proposes the concept of a "geographically oriented sovereign credit information alliance chain." Essentially, this is an alliance chain that operates within a specific sovereign territory. This simplifies handling challenges arising from different legal frameworks and regulatory policies. Additionally, this geographically oriented sovereign credit information alliance chain is not a partial, simple, or isolated solution design but rather part of LinkEye's comprehensive system and overall conceptual solution. It, alongside the "Achain-based cultural asset trading platform and its corresponding token and economic system," the "LinkEye middleware," and the "LinkEye cross-chain interaction protocol," forms a complete solution.

LinkEye Sovereign Alliance Chain

The LinkEye Sovereign Alliance Chain is an independently developed high-performance alliance chain solution. Its underlying technical framework relies on the specifications and standards of the Hyperledger project and has undergone a series of independent modifications and enhancements for credit information application scenarios.

The LinkEye alliance chain also adopts the industry-recommended digital certificate mechanism to achieve identity authentication and access control. CA nodes implement PKI services, pre-issuing identity certificates and sending them to corresponding member entities, controlling the entities' access rights to various resources on the network. Additionally, the LinkEye alliance chain can manage data operation permissions through permission policies, addressing the question of "who is allowed to perform a specific action in a given scenario."

Fabric's chaincode provides basic capabilities for reading and writing states. The endorser simulates transaction execution and returns read-writesets as results. The committer validates sorted batch transactions using MVCC. If a transaction performs a state write operation during the validation process, the current version of all states in the corresponding read set must be consistent with the version at the time of endorsement execution. Otherwise, the transaction is marked as illegal. This is a compromise between availability and consistency. A typical consequence is that for basic transfer operations, an account can only be operated on once (whether transferring in or out) within the same block.

To address this issue, the LinkEye alliance chain supports multiple transfers to the same account within the same batch of transactions. On the chaincode container side, several interfaces have been added to ChaincodeStubInterface, allowing chaincode developers to flexibly use these capabilities.

LinkEye Alliance Chain Middleware

Existing underlying frameworks have issues such as transaction loss, general performance, inability to repair full failures, and limited scalability, preventing their direct application in the credit information domain. LinkEye proposes an alliance chain middleware solution to address these problems.

Transaction Loss

• For cases where the queue is full, measures are taken to limit blockchain write TPS, storing transactions first in the middleware.

Performance Issues

The current underlying framework has a processing capacity of around 1000 tps. However, if external requests exceed this capacity, the system cannot respond in a timely manner and may experience unpredictable problems. The LinkEye alliance chain middleware uses a token bucket algorithm to limit blockchain write TPS, improving system availability.

This algorithm design draws inspiration from everyday life. For example, old electrical circuit breakers have fuses. If someone uses a high-power device, the fuse will blow to protect other electrical appliances from being damaged by the strong current.

Full Failure Repair

The LinkEye sovereign alliance chain is deployed in different geographic locations. If a region experiences a major network outage, causing all underlying nodes to become abnormal, consensus cannot be reached, data cannot be synchronized, and recovery may be impossible.

The LinkEye alliance chain middleware caches requests from each node. When the network recovers, requests are re-initiated to ensure consensus is reached among nodes and data remains consistent.

Multi-Chain Access

If an application needs to access data from multiple chains, it must maintain access information for each chain. The LinkEye alliance chain middleware unifies the configuration of multi-chain access information, such as chainID, IP, port, etc. The application layer only needs to know the chainID.

Contract Data Sharding

Each node in the LinkEye credit information alliance maintains a massive amount of data. When the data volume reaches a certain level, read/write performance will decrease exponentially. The LinkEye middleware uses smart contract deployment to partition and shard stored data: The same contract is deployed on multiple chains to partition data, and the same contract is modified with a label and deployed on the same chain to shard data.

Data is then queried and written through contract routing. Multi-chain deployment of the same contract uses the primary key ID as the partition key. Primary key ID % partition number -> chainID. Single-chain deployment of the same contract uses the primary key ID as the sharding key. Primary key ID % shard number -> chaincode sequence (contract sequence number).

Smart Contract Upgrade

Contract stored data structure changes make existing data incompatible. If the contract storage structure changes, existing data is incompatible, and the transactions corresponding to the existing data are retrieved from the LinkEye alliance chain middleware, executed in the new contract first, and then new transactions are received.

Related Links

Link 1: https://www.qukuaiwang.com.cn/news/2493.html
Link 2: https://www.qukuaiwang.com.cn/news/10887.html