A Blockchain-Based Digital Asset Platform with Multi-Party Certification

Abstract

Assets such as warehouse receipts are important for enterprises, which can be used to pledge in supply chain finance (SCF). However, traditional pledges are performed manually, which inevitably encounters inefficiency and security problems such as multiple pledges. To improve asset security, we propose a blockchain-based digital asset platform (BDAP) with multi-party certification. BDAP not only has a security protocol based on the threshold ECDSA algorithm to make related participants confirm the authenticity of assets but also embeds a Verifiable Byzantine Fault Tolerant (VBFT) mechanism, randomly selecting the consensus nodes and improving the safety of the nodes. Moreover, data stored on the blockchain makes traceability possible. Through a set of experiments, we have verified the functionality and performance of BDAP. When the pressure test reaches 100 concurrent user volume, BDAP’s average response time is 1.441 s, showing a high ability to process transactions. However, now just a few open-minded banks are willing to access BDAP, it might take a long time to change the traditional perception of the participants in supply chain finance.

1. Introduction

Due to COVID-19, financing costs have risen remarkably. According to a report conducted by International Monetary Fund, the spread of coronaviruses in supply chains has caused a longer supply disruption than expected [1]. Under such a difficult situation, supply chain finance (SCF) is significantly highlighted. SCF pertains to diverse products and services offered by financial institutions, such as banks, connecting all companies in the supply chain [2,3].

The commodity industry has been under capital pressure. SCF has become a life-saver [4]. However, there emerge critical bottlenecks. The scale of commodity trading in China is about 80 trillion CNY, but the annual financing amount based on inventory is about 5 trillion CNY, and the percentage of inventory financing has been less than 3%. Although SCF could adopt a host of financial tools to boost production and generate financial value, it takes a long time to finance from the bank [5,6]. Lots of time has been wasted checking the authenticity of commodities, such as steel, with international prices constantly changing. SCF could optimize financial flows tallied with production and information flows and reduce debt costs, but it does not work efficiently in some organizations [7,8].

Take the warehouse receipt finance of steel industries as an example; multiple pledges have occurred often. It is challenging to validate the authenticity of each transaction. Moreover, examining the credit risk due to the limited access to historical data is also difficult. Hence, technological innovation is needed to improve authenticity and traceability. Blockchain has been considered one of the most striking breakthroughs in the digital field [9,10]. The distributed ledger of the blockchain could ensure the transparency, persistency, traceability, efficiency and security of tremendous data, which might address the current challenges in SCF.

There has been some work on the platform for SCF. However, most have just proposed a framework and few practical applications have been shown if the blockchain is mentioned. In this paper, we employ the blockchain to make warehouse receipts on the blockchain, thus promoting reliability and simplifying the finance process. Moreover, we have embedded the threshold ECDSA algorithm in the platform, which could force all parties involved in this transaction to have a digital signature, making a clear delineation of the responsibility for steel goods. By integrating a smart contract from banks, we have developed a platform named Blockchain-based Digital Asset Platform (BDAP) to solve the problem of slow financing. The company is short of money, and the bank is afraid to lend. In BDAP, all commodities will be digitalized after their authenticity is validated, and banks could automatically process financing if the smart contract is satisfied. In our trial run, the processing speed has been improved significantly compared to an SCF platform without the blockchain.

This paper will be organized as follows. Section 2 will review the relevant literature on SCF before and after the blockchain is embedded. The SCF business process based on the blockchain and the architecture of BDAP will be presented in Section 3. Then, the technical basis of BDAP will be proposed and elaborated on in Section 4 with the threshold ECDSA algorithm and data on-chaining process. Finally, the performance of BDAP is shown. Because few applications have been performed with the blockchain-based SCF platform, we mainly chose metrics to evaluate the speed of transactions compared with traditional SCF platforms without embedded blockchain. We conclude that BDAP provides a new approach for solving the existing problems of supply chain finance, showing high applicability and feasibility.

2. Related Work

Traditionally, SCF is associated with multiple products provided by banks, including loan, wealth management and inventory financing services. The major parties of SCF are extended at present [11,12]. Despite the rapid development of SCF, there appear to be a series of challenges. Firstly, SCF is faced with low transaction efficiency and high risk. Specifically, enterprises in the supply chain without a complete information management system could not provide complete and credible history data to ensure the authenticity of warehouse receipts. Low information transparency directly results in low efficiency and high cost of information interaction on the bank’s side. Further, other companies are difficult to connect with core enterprises and acquire financial support due to the weak information foundation [13]. Furthermore, in practice, most financial businesses in the supply chain have not been digitalized and still demand manual operations, thus consuming considerable time and costs [14]. Blockchain-based digitization could help solve the problem of warehouse receipt authenticity [15,16].

The technical nature of the blockchain is favorable for supervising transaction information [17]. We can query related transactions based on block hash, block height, timestamp and other information. In addition, the information in each block is protected by encryption technology, namely the hash function, which is difficult to fabricate and falsify to guarantee the security of transactions [18]. There have been some studies about a platform based on the blockchain. For example, blockchain with IoT could make sure of the safety of goods [19]. However, it has not been connected to the economic system of banks, and the problem of slow financing has not been solved. Ning and Yuan (2021) have proposed a blockchain platform to improve SCF, but they only proposed a structure. Few applications have been performed on a blockchain-based finance platform.

To make a platform solve financial problems automatically, we should use a suitable algorithm. Liu and Yang have proposed a Secure Multi-Party Computation Protocol for Universal Data Privacy Protection Based on Blockchain [20,21]. The threshold algorithm and other algorithms could protect the information [22]. However, given the large number of players in the supply chain, we should embed an algorithm that could force all parties to ensure the reality of warehouse receipts. The Multi-party Threshold Algorithm is suitable for SCF [16]. The signature size is fixed, which ensures the speed of the transaction. A complete architecture could make transactions swiftly and simplify financing steps [23]. Taking cost into consideration, we have not embedded IoT into BDAP [24]. Our ideal architecture consists of a basic module, a trading module and a financing module to cover the main transactions of SCF. A security system based on algorithms in a basic module would ensure the safety of the platform [25]. Further, there are some studies about how the e-commerce credit system works with the blockchain [26]. However, in this paper, we have accessed an API with a bank in a trail run to embed the smart contract from the bank to make the platform proceed smoothly.

3. Blockchain-Based Digital Asset Platform

BDAP is designed to deal with the existing predicament of SCF in the steel industry. We designed the business process in Figure 1 to satisfy the needs of all parties in SCF.

After integrating the needs of enterprises, we build the architecture of BDAP, as shown Figure 2. BDAP consists of three main modules: the Basic Module, Trading Module and Financial Module. The three modules connect SCF with BDAP.

3.1. Basic Module

The basic module contains registration, login and management of accounts. Particularly, the management account’s authority concerns with initializing or modifying contract management accounts and adding or deleting accounts. Moreover, this module is also used to synchronize the accounts in the open platform by offering an API interface that keeps the account information consistent with the external system. Precisely, the issuance section is designed to confirm digital asset rights and change their registration status. The cancellation concerns the cancellation of digital assets. Then, various key data will be gathered and stored in the traceability module, including digital assets, digital signatures and hash information. It also can be utilized for retrospective queries on the open platform, which provides a traceability query API interface for external systems to trace the status of digital assets and give feedback. BDAP’s traceability refers to the key information stored on the blockchain during the production and circulation of bulk commodities. Platform managers and authorized users can query relevant data in forward, reverse and directional ways, which is beneficial for avoiding risks and optimizing processes. Figure 3 shows the simplified registration process of warehouse receipts in the basic module.

3.2. Transaction Module

The steps of listing and trading digital assets are shown in Figure 4. First, the holder logs in to BDAP and submits a listing application to the warehouse receipt trading center. Then, BDAP evaluates the status of the warehouse receipt and updates it as “listed” on the blockchain. The warehouse receipt in the listed state cannot be financed. After the warehouse approves the listing information, the trading center reviews the warehouse receipts according to the trading standards and completes the listing process. The split and transfer of digital assets are mainly divided into two steps. In the first step, the holder logs in to the split and transfer page in BDAP and then cancels the original digital assets recorded to form multiple split digital assets. In the second step, each enterprise can list the newly generated split digital assets according to the digital asset listing and trading method.

3.3. Financial Module

Digital asset pledge means that the borrower submits a digital asset pledge and loan application to the bank and permits digital warehouse receipts to be directly transferred to the pledge state. The complete process is as follows: first, a digital asset holder sends a financing request to the bank on the blockchain. BDAP then automatically updates the warehouse receipt status in the bank’s internal system and the warehouse receipt management system. Second, the status of the digital asset in the holder’s account has changed to “Pledged”. The owner can no longer perform operations such as transfer and pledge after the digital asset is pledged. Third, the bank is supposed to examine whether the borrower’s assets have other pledge registration records in the PBOC registration system. If there is, it will be regarded as a breach of contract, and the follow-up process will be terminated. Finally, the bank allows the loan application, and the payment is immediately entrusted to the account at the end of the supply chain.

The process of financing with warehouse receipts could be performed fully automatically with the embedded smart contract shown in Figure 5. In the redemption module, the borrower can initiate a repayment request before the financing maturity date. BDAP will automatically determine the repayment amount. After the borrower repays the bank loan, the bank will issue an instruction to release the warehouse receipt pledge. Once the digital assets are not in the pledge status, the holder can perform a new transaction transfer or apply for a new loan. The dispute model plays a crucial role when there exist controversies in digital assets. After the court issues a judicial ruling, the applicant can utilize the default disposal interface to upload the ruling and other related information. Once the applicant and the warehousing institution jointly confirm the information, the warehouse receipt in the pledged state can be disposed of. The dispute solutions are as follows: first, the warehouse receipt will be directly rescinded on the blockchain. The disposal of the goods and funds is performed through the offline judicial process; second, the warehouse receipt will be transferred to the designated party and cancel the pledge state according to the judicial ruling; third, the third party will pay the corresponding funds at a certain fair commodity price based on the “Commodity Disposal Agreement” signed. The warehouse receipt will be released and transferred to the third party after being confirmed by the warehouse and other nodes.

4. Technical Basis of BDAP

We firstly apply blockchain and digital technology to create a digital certificate for commodities, namely digital assets, which are characteristic of multi-party consensus and traceability and cannot be forged. In addition, these digital assets can also be split and circulated for trading. In this paper, we take digital warehouse receipts as an example. Then, BDAP will develop a series of business processes and applications based on various scenarios, such as issuance, trading, financing, transfer, freezing, disposal and cancellation of digital assets. It can also effectively connect with e-commerce platforms, digital supervision warehouse systems and financial institutions. Moreover, we need security protocols to ensure the authenticity of warehouse receipts and a reasonable data on-chaining process to make sure of traceability. After integrating them, the architecture of BDAP would be introduced.

4.1. Security Module of BDAP Based on Threshold ECDSA Algorithm

BDAP uses a security module based on the threshold ECDSA algorithm to produce and keep private keys. The generation of private keys is based on the private key slicing algorithm. The private key fragmentation algorithm has been verified by cryptography theory to ensure security. The generation of each private key is performed by 11 independent servers. The final generated private key is also stored in an encrypted way on the mutually independent servers by means of sharding. The completed private key will never be leaked. The working process of a security module is shown in Figure 6. The security module includes KeyManager and SigServer; KeyManager manages the opening, validation and invalidation of private keys, while the private key signing service can not only use public and private keys for signing but also query the corresponding organization through the public key.

Threshold ECDSA algorithms can keep the signature size fixed. Further, a single implementation of the algorithm can support multiple blockchains. Moreover, it is able to protect the privacy of all participants in multi-signature accounts. Rosario and Steven have proved their security [17]. Multi-Party Computation Protocol for Universal Data Privacy has high security. Assume that S is a set of t’ participants whose purpose is to collaboratively generate a legitimate ECDSA signature on message m. The process of the threshold ECDSA algorithm is shown in Algorithm 1.

Algorithm 1. ECDSA Algorithm
1	begin
2	/* Basepoint G is a randomly selected node on the elliptic curve
3	/* m is the message to be encrypted
4	def generate_signature(privacy_key,m) do
5	q_point = gen_k( )
6	|> Point.mult(G)
7	r = calculate_rem(q_point, G.order)
8	s = calculate_s(k, hash_and_encrypted_message(m), privacy_key)
9	output (r, s)

In order to verify whether the security module of the BDAP platform is reasonably effective, we give the flowchart of the algorithm for the formal proof to analyze it, as shown in Figure 7.

Combining the flow chart of the algorithm, the first step of the algorithm is to generate a polynomial for the key negotiation according to step 1 and to distribute keys to t′ players. Take $playe{r}_i$ and $playe{r}_j$ as an example, both calculate from step 2 to 4. The goal of subprotocol I in step 5 is that t′ players collaborate to calculate:

(1)$f_1\left(k_1, {\gamma }_1,\dots , k_{t^{\prime }},{\gamma }_{t^{\prime }}\right)=\left(k\gamma , \gamma \ast G\right)$

In order to achieve this task, it is necessary to ensure that $k_i{y}_j$ can only be computed by $playe{r}_i$ and $playe{r}_j$, and the result of the computation needs to be spread between two players. That is, $playe{r}_i$or $playe{r}_j$ cannot deduce $k_i{y}_j$separately. In this step, we also use a protocol called MtAwc. MtAwc (Multiplicative shares To Additive shares With Check) is a two-party secure computation where the objective is for $playe{r}_i$and $playe{r}_j$ to input and receive a random number. By using the Paillier additive homomorphic encryption algorithm, we can implement the MtAwc protocol. $playe{r}_i$ and $playe{r}_j$ run MtAwc protocol. The inputs are $k_i$ and ${\gamma }_i$. The outputs are ${\alpha }_{ij}$. and ${\beta }_{ij}$. Then, $playe{r}_j$ gets 2(t′ − 1) numbers and calculates:

(2)${\delta }_i=k_i{\gamma }_i+{{\displaystyle \sum }}_{j\ne i}{a}_{ij}+ {{\displaystyle \sum }}_{j\ne i}{\beta }_{ji}$

By using sub-protocol I, $playe{r}_i$gets ${\sigma }_i$ and $k_i,$calculating $s_i$ in step 5. $s_i$ is the additive sharing in the signature pair. Sub-protocol II is for detecting malicious players. If all players pass the protocol, signature pair (r, s) will be output. First, the realistic application of the threshold ECDSA algorithm was until recently only partially addressed. Two research teams presented two different algorithms for ECDSA mult-iparty signatures (GG18, LNR18). Secondly, each participant needs to participate in a distributed secret key generation protocol, unlike multi-signature accounts where each person independently generates the public and private keys for sub accounts; this means that multiple interactions are required to establish each person’s public and private keys. Thirdly, signature generation also requires several rounds of interaction.

4.2. Verifiable Byzantine Fault Tolerant Consensus Mechanism

BDAP adopts the innovative VBFT consensus mechanism to make sure of the integrity of asset information, which is a new consensus algorithm combining POS, Verifiable Random Function (VRF) and Byzantine Fault Tolerance (BFT). The VBFT mechanism is based on the BFT algorithm, but it introduces a “verifiable random function” (VRF). VRF is used to calculate and randomly select the verification nodes and confirmation nodes, and then the selected nodes are used to complete the consensus by the BFT algorithm. Due to the randomness introduced by VRF, the alternative proposal nodes/verification nodes/confirmation nodes are different for each round of blocks, which is difficult to predict in advance, thus greatly improving the safety of nodes.

In each proof cycle, the storage node will automatically generate a storage proof and broadcast it to the shared network; after the verification node receives the storage proof, it will cooperate with the VRF function to complete the validity verification of the current round of proof in the self-proving process.

The self-proving process is shown in Figure 8. First, the storage node randomly selects c block indexes from n block indexes and selects a corresponding random number for each block index to form a challenge request; then, based on the challenge request value, it returns {σ, μ} as evidence to the provers; finally, after the consensus node (challenge contract) receives the evidence {σ, μ}, it determines whether the data are complete.

BDAP uses the Balanced-Merkle-DAG sharding method shown in Figure 9, which retains the original characteristics of Merkle-DAG while solving the problem of its data traversal. In a Merkle tree, the bottom mass of leaf nodes contains the base data; each intermediate node is a hash of its two leaf nodes. The hash value changes when the transaction of any of the leaf nodes is modified, so the hash value can be used as a unique summary of the digital asset transaction. In addition, BDAP strictly controls the multiple backups through the frequent PDP proof to ensure the integrity of the file; once the file is missing, the storage protocol will automatically replicate the backup to ensure that the data of assets has always existed in the entire network.

4.3. Data On-Chaining in BDAP

We have compiled the data that needs to be chained according to the steel enterprise’s needs. The traceability information fields are composed of the on-chain part and the off-chain part; the on-chain part mainly plays the role of data verification and credible traceability, and the off-chain part can support complete visualization presentation as a supplement to the information, the necessary content fields and corresponding descriptions of the traceability query information returned by BDAP. In addition, different users can add extended content according to their own needs; the fields and corresponding descriptions are shown in Table 1; we consolidate these fields into <Body/> information.

The data on-chaining process is shown in Figure 10. According to the digital asset message data to take out all the contents in <Body/>, BDAP uses the HASH algorithm standard to generate a HASH summary string and compare it with the HASH data queried on the chain; if it is consistent, the digital asset has been chained and has information integrity. Users can query based on relevant characteristics to obtain the deposited data on the underlying chain. Moreover, users can use the corresponding public key to verify the legitimacy of the signature according to the issuing authority certificate number.

In this paper, we choose DNA blockchain to issue the digital asset, which is a decentralized distributed network protocol based on blockchain technology and is implemented in Golang. Through a peer-to-peer network, DNA can be used to digitize assets and provide financial services, including asset registration, issuance and transfer.

5. Evaluations of BDAP

5.1. Evaluation of SCF in BDAP

The application of digital assets based on the blockchain and smart contracts could solve credibility. In the process of issuing digital assets, users need to fill in the relevant fields in the necessary display information according to the specification. The specification firstly adds fields such as digital signature and hash based on GB/T-30332-2013 “Warehouse Receipt Elements and Format Specification”, combined with the characteristics of electronic warehouse receipts. Secondly, GB/T 38563-2020 “General Technical Conditions for Anti-counterfeit Traceability Verification Based on Mobile Internet” stipulates the necessary display fields based on the blockchain. In a recent trial run, we have input the <Body/> of warehouse receipts as shown in Table 2.

After the <body/> information meets the needs of security modules, we could trace it by API and get the digital asset. BDAP can return the on-chain information stored in a certain format and generate the digital asset of the certificate shown in Figure 11, which includes the fields mentioned in Table 2. The digital asset credentials of each bulk commodity will present the latest transaction HASH; through the transaction HASH, you can go to the chain to check the digital asset number, digital asset content HASH, digital signature, etc. The following algorithm will allow you to compare the authenticity of the digital asset.

The digital asset number identifies a unique number for each digital asset, which will be written to the blockchain and has the characteristics of non-tampering and traceability. Only users who have the private key can use the traceability module. By using the traceability module, we successfully find the responsible party of the digital asset, as Figure 12 shows. However, we have not connected to the IoT system, which is suitable for a warehouse receipt but has a high cost. In future research, we will apply IoT in BDAP.

We try to update 50 or more digital assets on BDAP and successfully list them. Participants in SCF could find what they needed from BDAP. By integrating with the trading center (including e-commerce platform) API and synchronizing digital asset information, the shipper can view the digital assets of their account on the user side of the e-commerce platform. The owner can list digital assets on the trading center for sale, and when a transaction is reached with the buyer, an electronic purchase and sale contract is signed online, and payment takes effect, the e-commerce platform sends transfer instructions to BDAP, and the BDAP administrator approves and transfers the digital assets from the seller’s account to the buyer’s account with a digital signature to realize the transfer of cargo rights, and synchronizes the asset transfer information to the Digital Research Institute. After the successful transfer of digital assets, the asset information is synchronized to the trading center, which, in turn, synchronizes the transfer information to the storage side and updates the digital assets in the account in the user-side interface of both systems.

5.2. Performance Evaluation of BDAP

This evaluation is a stress test for the monitoring service within BDAP. The evaluation uses the open-source test method of Apache, JMeter, which uses the JMeter proxy server to record scripts to generate http request scripts, and send access requests through https protocol post and gets to collect the server response speed and server resource consumption. We tested 10, 20 and 100 threads to simulate these numbers of concurrent users. The ramp-up period (in seconds) value was set to 1 (that is, 1 s to start 10, 20, 100 concurrent access), loop 5 times. The result is shown in Table 3; when the pressure test reaches 100 concurrent user volume, the server’s CPU usage and memory usage are in the normal range, and there are no data request abnormalities. According to the current service situation, the usage requirements of the business scenario are met.

6. Discussion and Conclusions

Blockchain technology can help improve data trustworthiness and enable data traceability. BDAP, developed in this paper, is an upgrade of traditional supply chain finance based on blockchain technology. Few blockchain-based supply chain finance platforms have been landed, and we developed a system as close to the real business process as possible and digitized the traditional assets. In China, it often takes more than a week for companies to successfully raise funds in a traditional SCF platform. With a smart contract from the bank embedded in BDAP, companies can finance successfully if their commodities meet the smart contract. Moreover, BDAP could help solve the problems of multi-pledging to improve safety. In comparison, traditional SCF platforms require third-party endorsement, which costs a lot for both companies and banks. For managers in the supply chain, if there are any financing problems, they could trace the responsible party by the hash of the digital asset. For theoretical implications, we combine VBFT with Threshold ECDSA to build a multi-party certification system on the blockchain, which is innovative.

In addition, we have been testing BDAP. Because there are almost no similar platforms, we chose traditional measures of system performance to test whether many transactions could be completed simultaneously. The results of the performance test show that when the pressure test reaches 100 concurrent user volume, the server’s CPU usage and memory usage are in the normal range. BDAP has a strong application prospect. In the future, we will focus on the pain points existing in the commodity trade process and create tamper-evident, multi-party consensus, traceable and split-flow digital credentials, i.e., digital assets, for commodities with blockchain and key digital technologies. The platform will develop corresponding business processes and application interfaces around business scenarios, such as issuance, transaction, financing, transfer, freezing, disposal and cancellation of digital assets, and complete the interface with e-commerce platforms, digital supervisory warehouse systems and banking systems. However, in our actual rollout, only a few banks are willing to access BDAP, and most banks are on the fence about full automation of supply chain finance; it will take a while to change their mindset. In addition, the cost of building BDAP for SMEs may be higher, and, currently, we only have a trial run.

Author Contributions

Conceptualization, F.L. and J.Q.; methodology, F.L.; investigation, F.L. and Z.F.; resources, F.L.; data curation, F.L.; writing—original draft preparation, F.L. and Z.F.; writing—review and editing, F.L. and J.Q.; supervision, F.L. and J.Q.; project administration, J.Q.; funding acquisition, J.Q. All authors have read and agreed to the published version of the manuscript.

Institutional Review Board Statement

No applicable.

Informed Consent Statement

No applicable.

Data Availability Statement

Not applicable.

Acknowledgments

Thanks to the blockchain technology team of the Cross-Innovation Laboratory of East China Normal University for their fully support. At the same time, we also thank the reviewers for their valuable time.

Conflicts of Interest

The funders had no role in the design of the study; in the collection, analyses, or interpretation of data; in the writing of the manuscript, or in the decision to publish the results.

Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Figures and Tables

Figure 1. Business process design of BDAP.

Figure 2. Architecture of BDAP.

Figure 3. Registration process of warehouse receipts.

Figure 4. Listing and trading of warehouse receipts.

Figure 5. Financing of warehouse receipts.

Figure 6. Security module in BDAP.

Figure 7. Algorithm flow diagram of Threshold ECDSA.

Figure 8. Self-Proving process of VBFT.

Figure 9. Self-Proving process of VBFT.

Figure 10. The process of uploading data onto the blockchain.

Figure 11. Digital Asset of warehouse receipt.

Figure 12. Trail run of traceability module.

Table 1

Display fields and descriptions to meet traceability.

Serial Number	Fields	Description
1	DigitalAssetNumber	Digital Asset Number
2	Signature	Digital Signature
3	InfoHash	Digital Asset Content Hashing
4	DigitalAssetStatus	Digital Asset Status
5	CertSerialNo	Signatory certificate serial number
7	Name	Product Name
8	Product factory	Manufacturer’s name
10	StorageNorms	Product Specifications
11	PD	Production Date

Table 2

List for <Body/> information of digital asset.

<Body/> Information of Digital Asset

{ “inst_no”:“xxx”,“acct_id”:“xxx”,“out_txn_id”:“xxx”,“timestamp”:“2021-12-06 12:20:20”,“digital_assets”: [{“header”: {“message_reference_number”:“123”,“document_name”:“Warehouse Receipt”,“document_version_number”:“version0.1.0”,“sender_code”:“123”,“message_sending_date_time”:“2021-12-30 14:46:32”,“message_function_code”:“101”   //Issuance of transactions“digital_asset_type”:“01”  //01: Warehouse Receipt 02: Presale Certificate},“body”: {“delivery_date”:“Expected delivery date”,“custody_warehouse_name”:“Warehouse Name”,“custody_warehouse_address”:“Warehouse Address”,“storage_number”:“Storage item number”“description_of_storage”:{“storage_model”:“Products first-class catalog: rebar, etc.”“storage_name”:“Product Name”,“storage_specifications”:“Specification”,“storage_price”:“Unit price per ton”,“storage_quality_standard”:“Quality standards: such as gb/t 30332-2013”,“storage_unit”:“Measurement unit code”,“storage_origin”:“Place of origin”},“storage_gross_weight”:“Gross weight”,“issuer_no”:“1465194306590609408”}}]}

Table 3

Result of Performance Evaluation.

Number of Concurrencies	Thread Group Increment	Response Time	SuccessRate	CPUUsage	MemoryUsage
10	Increase by 10 per second	0.373 s	100%	2–5%	5%
20	Increase by 10 per second	0.469 s	100%	2–5%	5%
100	Increase by 10 per second	1.441 s	100%	2–5%	5%

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