automatic management and registration method for smart contracts applied via blockchain

摘要

The invention relates to the fields of tokenization, blockchain and smart contract technologies. A technical setup is provided that simplifies automated contract management. The invention comprises a method and system using a computer based repository for contract storage. The contract is then represented by a transaction on the blockchain. The metadata within the transaction script includes a contract hash and a means to identify its location within the repository. The transaction also includes an unspent output (utxo) that indicates its status as an open (ie not terminated) contract. The contract is terminated by spending the output at a later time, for example using nlocktime + checklocktimeverify (cltv). By combining this concept with other computing techniques and components, the invention can provide an effective mechanism for implementing various tasks, such as continuing or renewing the contract, or dividing it into subcontracts or conditions. Additionally, since the status and existence of the contract is evident through the blockchain, this provides a permanent record of the publicly visible and unchangeable contract.