Alibaba Group Holding Limited
TRANSFERRING OPERATIONS BASED ON BLOCKCHAIN SMART CONTRACT

Abstract:

Implementations of this specification provide a system and method for performing transfer operations based on a blockchain smart contract. An example method includes: determining, by a transferor client device, a transferee account, a transfer amount, and at least one expense asset, and constructing and submitting a transfer transaction to a blockchain network. The transfer transaction is verified by the blockchain network through a smart contract, using a homomorphic encryption algorithm to determine that a sum of a transfer amount included in a transfer asset and a change amount included in a change asset is equal to a total expense amount corresponding to the at least one expense asset. Using the smart contract, the expense asset is deducted from a transferor account associated with the transferor client device, the change asset is added to the transferor account, and the transfer asset is added to the transferee account.