Geolocation-based consensus algorithm for use in monitoring proposed data records for a distributed ledger

Abstract

In conventional distributed ledger systems, consensus mechanisms are required to maintain a common state of agreement among nodes while maintaining the distributed nature of the network. However, conventional consensus mechanisms require that the system access incoming data blocks during the consensus process, which can open the network to security threats. As such, a need exists to securely evaluate proposed data records prior to initiating a consensus mechanism. The system provided herein solves this problem by applying a geolocation engine to trace the origin of incoming data records and apply a digital signature to each data record. The distributed network model may then derive a location for each data record based on the digital signature. If the data record originated from a restricted location, the system may automatically block the addition of the data record without the need to access any other data contained within the data record.