Exchange of assets on the chain

In this section we will discuss the most basic features of ArenaPlay, which will be implemented in the first version of ArenaPlay.

Transactions of the right to earn, hold, use, etc. of assets: Registration in the form of internal account mransfer of contracts. Redemption of assets. It takes the form of contract transfer out of APC. An account is a concept abstracted from within ArenaPlay and belongs to the contract level. Each account will correspond to a set of MUSD at the data book level, and the sum of all AUSD assets under the account will form the balance of the account.The following are the basic concepts of the ArenaPlay data model.

Transactions

A transaction is a basic operational transaction of an ArenaPlay asset, which is a data structure containing an input value and an output value.

Inputs

Can be one or more different types of digital assets, or the output of a particular transaction.

Outputs

Defines the post-trade asset outcome, an asset operation procedure that specifies the way in which this output will be spent in the future.

The input to each transaction must be either a set of newly generated asset units or the result of an asset manipulation process on top of a set of MUSD, both of which must be validated by the issuer as described above. The validation process for the issuer is that it can pass parameters to the Witness Field portion of the transaction, and then the transaction will proceed if the Witness Field portion passes. This part is somewhat similar to the idea of isolated validation proposed by the Bitcoin public chain.

For example, the asset generator and asset manipulator can initiate an authenticity verification by generating a Hash value for a given message and then signing this Hash value. From the Signature and the Hash value, it is possible to verify that the signature is signed by the private key corresponding to the public key.