Abstract
At present, the domestic securities registration is basically controlled by third parties, and it is not necessary to be identified after the transaction. Therefore, if a third party’s operating platform is maliciously attacked, it may change some of the information on the equity securities asset. Block chain application technology can transfer securities assets in the network system to check whether the security of securities assets through the P2P system. As the entire stock transaction process is stored in the block chain, the risk can be greatly reduced; the application of block chain technology can effectively prevent the securities assets from being tampered with in the course of the transaction. Aiming at the problem that the block chain technology is used to prevent the data from being tampered with in the course of the transaction, the storage system of securities trading based on block chain was proposed. Transactions of securities assets based on block chains were realized through the design of the system. The system was designed by using Java technology. Block chains were used as a basis for design ideas, and securities transactions were written into block chains and transferred to database.
Introduction
The 21st century is the era of rapid development of science and technology, with the progress of society and the popularity of the network, people’s lives changed a lot under the influence of these technological derivatives. Under the impact of Internet technology, digital information platform is used to store securities assets, virtual currency transactions can be carried out in the digital information platform, and such a transaction scale is growing with the progress of technology [1]. For example, when traveling, our traditional way of buying tickets is to line up tickets to the ticket window, but now we can book tickets in advance through the Internet in the official platform. This way can be convenient and quick to buy electronic tickets. The e-tickets used in this kind of attractions are the digital assets we have purchased. Investment form is also a kind of digital assets. Digital assets and physical assets are different, the physical assets can be tangible, and digital assets are invisible, digital assets stored in the third party trading platform, the holders of digital assets conduct personal day-to-day management through a network of third-party management platforms. Third-party network platform can store personal securities asset information, when the level of management of the platform is not in place, it will give hackers the opportunities that hackers can attack the database platform, it is easy to tamper with the depositor’s personal asset information, in which case the client’s security assets are not guaranteed [2]. At this level, we need to pay more attention to the safety of digital assets and enhance the security awareness of individual securities assets. Because the storage of third-party database is mainly to consider the safety and credibility of the platform, but the current storage method can’t avoid the interference of human factors, so the risk is relatively large.
Before and after 2008, with the emergence and development of Bitcoin, block chain technology in the market has been a lot of attention. The block chain can be likened to an open book, and all personnel can record the data on the books, but it can’t be changed after the record. Many technology companies increased investment in the underlying technology in the study of the block chain. As the dependence of financial products on the block chain gradually increased, the technical upgrading in the academic community has begun to be taken seriously. As the block-chain technology is to build a platform from the technical level to obtain the trust of the center, so from the technical update level evaluation, this is a very promising and is a subversive innovation. The world’s first currency that can be paid through the network is called Ripple, the dollar or the euro or even the yuan can be exchanged through the payment network transfer currency, trading time is very short, and can safely transfer money to anybody on the network. Block chain can store the customer information in the bottom of the transaction, which can effectively alleviate the security risk of the storage of the securities transaction information. At present, the research results of block chain in China are still relatively small. The application of block chain technology in the securities asset industry is still relatively rare. This paper effectively combined the technical advantages of the block chain and the security risks of the securities assets. On this basis, the experimental analysis and the research work and the results have some reference significance for the security protection of the securities assets trading.
A brief introduction and review on the application of block chain technology
Comment on the concept of block chain
A block header located at the front position of the block, and a description area of the subsequent main string transaction is called a block. The link that is formed from the back to the front is called the block chain. Each of the blocks has a pointer to its parent, and the origin of the pointer is calculated by the hash. The creation of a block link that can be traceable requires a block of each block before a block. The hash value of the parent and child blocks is sufficient to ensure the security of the data in the transaction. Thus, if the head position of the parent block is tampered with for some purpose during the transaction, the hash associated with the head position of the parent will also be followed, and the corresponding child block will be modified. Therefore, the whole modification process has a strong order and relevance. According to the above modification, all the blocks are to be modified [3]. This kind of block change is like a waterfall, and a lot of calculations make the block change more difficult. If there is no very strong computing power to block the subsequent blocks, the security of the block chain is basically guaranteed.
Blocks can be compared to a container. The container accommodates a lot of digital transaction information. The process of the transaction uses the workload to prove the effectiveness of the whole method [4]. The digital fingerprint acquisition method is based on the hash operation which calculates the block header. Because the hash value of the block size of the block can’t be modified, the block can be used to identify the block. The hash value of the independent block can be obtained from any node by a hash operation [5]. The consensus used in the block process is a spontaneous mechanism control, which is relatively free of time and place. Moreover, this consensus is formed by a number of independent nodes based on certain rules. The nodes in the network are self-validating according to the characteristics of the transaction, and the workload calculation method is used to calculate the transaction-independent packing. The chain can choose the extra block chain. The work of the most massive block chain is selected through the work of the mechanism and methods. Trust is the basis of the successful application of the block chain, and the trust among the participants in the system needs to establish a mechanism of attribute. The establishment of the mechanism of trust attributes ensures that the calculation can proceed smoothly. In the process of buying and selling securities assets, the amount of computation is large and the trust increases [6].
In the block chain application process, the formation of blocks needs to pay a certain amount of work costs and time costs. The block generation is purposeful and is not arbitrary. It is important to note that sending a large number of insignificant tampering information requires a lot of effort, so this ensures that the block chain is added to the correct block chain [7]. If the other person produces an individual block chain to replace the original block chain, the amount of work that is consumed is much greater than the time it takes to form the block, so the alternative modification is meaningless. In principle, the block formation workload is difficult to calculate, but it is easy to verify this process. After the completion of a large number of works, executives accumulated the results of the calculations, anyone can verify the answer. In 1996, Adam first proposed the application, which takes the workload of a project as a return mailbox junk file, on this basis, it developed more work. From the application, if someone maliciously sends mail through the system, then this requires a very strong proof of the workload. So a lot of spam will send a lot of work to send the workload, the attacker will feel uneconomical, people who send mail normally can send messages normally.
Overview of application of block chains
Ralph Merkle presented the concept of Merkle Tree. After the hash of the data files in the transaction process, the integrity of the entire data file can be verified and verified [8]. Through the way of network transmission, the hash value is transmitted to the network platform. After downloading the data file, the client computes the hash value after the operation. If the result of the operation shows that the result of the calculation is not deviated, it can prove that there is no damage in the downloading process. The biggest feature of the application of the principle of the hash value is that when people changed the input, even if the data is slightly modified, the data will change dramatically after the hash, so the numerical value of the post calculation changed greatly with the value of the previous calculation. Thus, this avoids the fact that someone derives the design data of the original personnel according to the existing hash value, effectively preventing the disclosure of data [9]. The block chain in the Merkle Tree can be applied to the induction block process involved in the transaction, generating the transaction’s certified digital fingerprint. After a certain way of arranging the hash nodes, a complete Merkle Tree can be formed until only the last hash point is left, which is the node of the Merkle Tree’s root position. Figure 1 shows the composition of the Merkle Tree schematic.
Sketch map of Merkle Tree.
In order to verify the specific data of a block in a transaction, a complete set of Merkle tree roots is formed, and calculating a node requires 32 bytes of hash value by log [10]. Of course, if the number of transactions grows drastically, the amount of computation will lead to an increase in the workload [11]. Figure 2 shows the Merkle tree diagram of the multi-leaf node. As can be seen from Fig. 2 a node can prove a transaction in a block by a specific byte hash value, such as the 25th transaction in the graph. This path has four hash values, each of which is 1, 11, 6, and 26, respectively. These four values are able to generate the authentication path, and then calculate the other 4 hash values. Thus, the node 25 contains a sufficient proof that the settlement can be sufficiently summed by each node in a particular block [12].
Merkle tree with many leaves nodes.
The P2P network model at the bottom position is a network exchange method for the client machine and server. For the exchange mode of the server and the client machine, a dedicated server is used to distribute the data in a certain way. Each client of the relative host can access the desired data by accessing the server [13]. This exchange model is easy to maintain the same data, which is also more convenient for the overall management and application of the system. The prominent feature of this application pattern is that if the server fails, then the data access function will cause problems. In the process of running the network, the attributes of P2P are more equal, and the asset securitization process can be spread on the network, so that all the working nodes can participate in the transaction authentication [14].
The overall design of securities asset system
Through the analysis of the block chain, the paper designed the system process of the transfer and purchase of the securities assets. Figure 3 is a schematic diagram of the overall system. It can be seen from Fig. 3 that the specific process of the purchase and transfer of securities assets is the registration of user platform, the purchase of securities assets and the transfer of assets. In the application of the new user registration process, the platform of the system calls the block chain to insert the basic information of the new user into the block chain. The lag block link will directly return the new user’s information. In the process of battle and the purchase of securities assets, the platform will directly call the information stored in the block chain, and then write to the block chain, and will also give the customer a detailed path and record of the transaction in the process.
The process of transfer and purchase of securities assets.
Figure 4 is the system structure of the security asset platform which is designed by using block chain. Figure 4 is the general framework of the whole system. The upper frame structure can protect the customer’s personal information, the bottom can create a personal account and some transaction records for the customer. Customers can open the landing page through the online browser page to register on the platform page. After the user has completed the basic information, the background will review the user’s basic information. The system platform calls the block chain in the bottom position in real time, and the basic information of the registered user and the information of the block chain are implanted into the database of the system. This time the key steps and the third party platform trading patterns are different. When customers purchase and transfer securities capital at the interface of the system, the database does not directly receive orders submitted by the customer, after the order through the bottom of the block chain, block chain will automatically read and write order information, and return the order information through the block chain. The feature of the design is that the underlying block chain is transparent to the client. For users, the account is not generated by a person in the background, but the underlying block chain. This design can ensure that the maintenance is convenient, because we only need to repair the maintenance block chain, the entire system platform can’t move any interface. And in turn, the maintenance of the system will not have too much impact on the underlying block chain.
The system structure of the securities asset platform based on block chain design.
Figure 5 is a schematic diagram of the functional modules of the system. Users who use the system platform need to register the account, if uses do not registered account, they can only browse the interface of the securities assets, but can’t consult and trade. The server needs to provide the user with two types of necessary data. The first is the underlying block chain address, secret key and hash of the basic information; the second is to provide users with the user’s registration time and other basic reservation information. After the login interface, the user can consult and trade the securities assets of the platform. After entering the login account name and the corresponding password, the user can enter the interface. In addition, the system also has the functions of issuing, buying and selling of securities assets, the transfer of securities assets and the exit of the interface.
Schematic diagram of the function module of the security asset system based on block chain design.
The use of block chain technology to design the asset securities trading system requires a more complete database to store a large amount of information. The reasonable database design can improve the operation efficiency of system. Under this condition that the information can be easily input and output, the excellent document design can provide a very important help for the maintenance of the late data. The system used in this study uses a database of MySQL. Figure 6 is the E-R diagram, which shows the relationship between the entities. Although the trading platform is only through the web interface for the exchange of users and platform, the process of buying and selling a security asset involves an entity’s orders and user information, so the identity of the customer needs further verification.
Schematic diagram of E-R.
The account used by the user is created by the block chain, and the corresponding weights are assigned to the user during the creation process. After the user registration is complete, user can log in to the interface for the sale and transfer of securities assets. Platform account registration needs to fill in the phone number, verification code, call block chain, password protection and registration information of five modules. After successful registration, when the user enters the account number and password, the system will automatically generate any letters of the Salt, because the database archives the plaintext password, the background does not randomly hash the password, but generates the MDS. This model can avoid malicious attacks on user data, making the difficulty of password cracking greatly improved. Figure 7 is the user registration and landing of the Chinese interface, mainly through mobile phone number registration and login.
The interface diagram for users’ registration and landing (Chinese version).
After the user successfully logs into the interface, the interface will jump directly to the main interface of the purchase of securities assets, this interface is a platform for trading transactions. This interface sets some of the common properties of the securities, and can achieve their own use function through this interface. The query of the database’s record table can show the basic data of the securities asset. The system access method designed in this study has only a unique data access path, that is, Dao mode. By retrieving the data of the database, this model can fill in the basic information retrieved in list, which is displayed to the user on the platform interface.
The realization of securities trading based on block chain
Users need to purchase securities assets in the main interface, after the completion of the operation, the background of the system requires a certain audit of the purchase information. After the approval, the transfer and payment of assets can be carried out. The platform retrieves the basic information and transaction information from the database, and embeds the details of the transaction into the block chain. The system platform will automatically identify and judge the transaction information, and then store into the information base. Figure 8 shows a diagram of the transaction flow created by the transaction customer. As can be seen from Fig. 8 that when the user transfers or purchases assets in the securities asset trading platform, users can enter their own transfer interface and trade at any time. After the user platform input information, the system platform will identify the information. The system automatically calls both sides of the block chain transaction interface, and put all of the transaction information into the bottom of the block chain. The change of the securities information in the account information is completed by the underlying block chain.
The sketch map of the transaction process.
After the interface of the purchase of securities assets, the user fills in the number of purchases at the interface. Background can view the user’s purchase order details. The page will display the information of half of buyers. The display interface function is shown in Fig. 9 on the left. The securities purchased by the interface user have an ID. This ID becomes the definite information in the transaction process and then is passed to the server. According to the access database provided by the former, the data bureau checks the entire transaction in the database through Dao, and inquires out the specific securities asset transaction information, and then returns the information into the variable, and then returns to the interface. The variable level is Request. The user can view the interface of the asset or check the transaction through the special interface of the system. This interface can look at the past types of securities assets, and can check all the assets of the transfer of assets. The user information stored in the Session is taken out at the time of landing. The system will query the corresponding database according to the user’s identity, and then inquire about the user’s purchase record. Figure 9 shows the details of the purchase order of the asset purchased by the user during the purchase of the securities, the interface is the Chinese interface, and the payment of the purchase of the shares of Ali is taken as an example.
Schematic diagram of purchase and order interface display (Chinese version).
If the functions of the transaction interface have been completed, the normal operation of the system in the transaction can be guaranteed, the re-purchase module needs to be tested, and the implementation of the transfer function of the entire transaction system requires that the block chain at the bottom position can keep the connection state in the running of the system. If the underlying block chain is disconnected during the transaction, the transaction interface will prompt an exception in the transaction order. The functional testing of the module is mainly able to display the user’s basic information on the purchase of securities, to show the price of the asset after entering the quantity purchased. After the test, all functions can be normal operation.
In this paper, after the successful landing of the system interface, the user can view the individual securities assets. The user needs to select the attribute of the main interface. After entering the user’s basic transaction information in the main interface of the system, the system will review the basic information entered by the user [15]. If the audit passes, the system platform will use the block chain to set up an interface, the user’s transaction information is embedded and stored in the bottom of the block chain. For transaction information of the user’s securities assets, block chain is only responsible for the user account. In the process of asset securitization transaction, the system will determine the user’s jurisdiction. If the decision results indicate that their authority does not meet the requirements of the system, the underlying block chain indicates that the securitization of the asset can’t be completed. The information of this transaction will be associated with the effective account generated by the underlying block chain. The property of the account generated by the secondary block chain is different from that of the user’s registered user name, but the two are mutually exclusive. In the registration time, a user will form an upper user account. This account corresponds to the underlying block chain through the account generated by operation. This account records all the transaction process of the user on the platform, which is the application highlight of the block chain and the application mechanism of the asset securitization based on the block chain technology in this study.
Conclusions
The emergence of Bitcoin to block chain development has been 9 years. The application of the block chain is currently in the process of continuous exploration. The complete application of the block chain is still very challenging. This paper aims at the problem that the basic data of the users in the asset securities transaction is easy to be lost and hopes that the database and the block chain will reach a perfect combination point to design the asset securities trading system based on the block chain. This study focused on the construction of several modules needed in the securities trading system. These modules were commonly used for user registration and the purchase of securities assets. However, due to the limitations of the various aspects of the study, this study only used the technology of the block chain for the underlying application. The main results of the study were obtained: the user can create the account in the block chain in the transaction process; transaction information can be implanted into the underlying block chain in the transfer process of securities assets, transaction information and the underlying block chain can achieve seamless docking. From the theoretical point of view, the asset chain transfer system based on the block chain technology can solve the unsafe problem of information in the transaction process. After the test, the system is running well and easy to use. Due to the relatively lack of knowledge in programming, the securities exchange system based on block chain has only implemented a few basic function modules. Follow-up research work also needs to put a lot of energy.
Footnotes
Acknowledgments
This work was supported by National Natural Science Foundation of China, research on time measurement and representation of Cyber Physical Systems based on fixed point interactive modeling (No. 61562051) and the key project of applied basic research program of Yun nan, research on time series modeling and energy measurement method for real time embedded industrial control software (No. 2014FA029).