Token Smart Contract Protocol

• The External-owned Account sends SC_INFO to other nodes.

• External-owned Account sends a SEND Block containing a Public Token transaction to activate the Internalowned Account. Nodes in the network will verify the Smart Contract based on the SC_INFO_HASH in SEND.

• After confirming the SEND Block, External-owned Account issuesthe OPEN Block in the Internal-owned Account chain and the Genesis Block of token by utilizing “Init()” in the Smart Contract and consequently broadcasts to the entire network.

• When each node receives the broadcast, it updates the local account information and calculates the balance of the Root Token for the Internal-owned Account and the balance of the new token. The process of issuing a Token Smart Contract has been completed.

Fig.7. Release Procedure of a Token Smart Contract