Let’s broaden the application of blockchains to include a consumer facing element, in which several US restaurant chains band together to create a rewards scheme. This scheme enables the rewards collected in one restaurant to be used in another, without giving centralized control of the database to any single company or external contractor.
This use case introduces a distinction between the core and periphery of a blockchain network. The core consists of regular nodes of AITCA, which store the entire blockchain and verify all transactions and blocks as they come in. At the periphery are lightweight wallets, which can also transact over the network but do not store the blockchain or verify transactions and blocks.
Each company participating in the rewards scheme runs a full AITCA node which has administration, mining and asset creation privileges. The mining diversity parameter is set to approximately 0.75, to allow some nodes to fail without freezing the blockchain. Beyond this, the blockchain allows unrestricted access for connecting, sending and receiving transactions.
Consumers in the scheme use lightweight wallets, running as mobile apps, which connect to several full nodes in order to receive and send transactions. The inline encoding of asset quantities within transaction outputs enables these lightweight wallets to transact safely over the network without needing to separately track the movements of assets. Since the blockchain has no restriction on connecting, sending and receiving privileges, anyone can begin using the system by installing a mobile wallet which generates its own private key and address.
The assets themselves are vouchers, issued in each company’s name and denominated in US dollars. These vouchers are given to customers as rewards for purchases in the participating restaurants. They can then be redeemed by customers at sticker price for purchases at any of the restaurants participating in the scheme. Finally, each company is able to redeem the vouchers issued by another company in exchange for cash at (say) 30% of sticker price.