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Governance#4 KYC Account Registration System

LEDGIS is a self-developed solution of Institute of Blockchain Technology. LEDGIS is a next-generation blockchain platform that allows users to use various types of services regardless of the boundaries of the chain, freely crossing the public and private areas .

Domain Name Service (DNS) based blockchain account system and KYC account

All accounts on the LEDGIS mainnet are provided with Domain Name Service (DNS) for easy identification. Naming an account’s address consists of 1 to 12 characters using the characters “a-z” and “1–5”. For anonymous accounts created by a typical account creator, a 12-character padding rule is applied. For KYC accounts, there is a rule of 1 to 10 characters with the domain of suffix p (ex: alice.p). For operator KYC accounts, there is a rule of 1 to 10 characters with the domain of suffix c (ex: apple.c).

Domain account that can be issued from Blockchain Technology Lab account has a 1 ~ 10 letter rule and can be used as a domain name. For example, if you are issued an abc account, you have the authority to create subaccounts with a total of 12 characters for instance a.abc, a123.abc and korea123.abc. Here we can see the registration system of KYC accounts (real name, business account) in the blockchain.

KYC account registration system

LEDGIS account

LEDGIS blockchain accounts are very simple to store with account names in string form by smart contracts. If you store the 12-character account as it is, you need at least 12 bytes of space but the LEDGIS account saves the data size to 8 bytes because the numbers/ characters like ‘.’, 1 ~ 5, a ~ z are replaced with numbers from 0 to 31 in order. The usage of the LEDGIS mainnet RAM is reduced and thereby improving performance. For example, the character account abcdefgh1234 is represented by the numbers 6,7,8,9,10,11,12,13,1,2,3,4 and stored as uint64_t (8Byte).

LEDGIS Account Rights Management System

All accounts on LEDGIS have execute permission on the smart contract. By default, owner and active privileges exist and you can add additional privileges. In case of Owner permission which is also the highest permission, is the right to run the smart contract and change the permissions assigned to the other accounts. Active permission has the right to execute smart contracts that can perform the basic functions of the blockchain such as money transfer or transactions, except for changing permissions.

Privileges include linking specific smart contract actions to privileges via ‘linkauth’

You can set it to execute the linked smart contract action. Permissions can generally be set based on PKI-based LEDGIS keys and thresholds exist. In case of threshold value, weight can be set for each key. When the threshold value set through key is reached, the corresponding authority can be used. In addition, it can be set not only for the key but also for the account’s privileges as well.

For example, the test1 account has a threshold of 10

Set weight to 5 for the active privilege of test2

Set weight to 5 for the active privilege of test3

Suppose you added service permission by setting weight to 10 for active permission of test4.

If you linked the transfer action of LED token to the service permission of test1, you can execute the transfer of test1 by multi signing the active permission of test1 and the active permission of test2. In addition, the active privilege of test3 has a weight of 10 for the service privilege of test1, so transfer of test1 can be executed with the active privilege of test3.

LEDGIS

“LEDGIS | Ledger+ Aegis”

Next-generation Blockchain”

LEDGIS, a self-developed solution of Institute of Blockchain Technology, is a next-generation blockchain platform that allows users to use various types of services regardless of chain boundaries, freely crossing the public and private areas. By protecting the integrity of the ledger, we will protect the trust and interests of the participants and create a sustainable ecosystem in which many are active.

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The Future of Decentralized Self-Sovereignty Identity Platform.

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