The present invention discloses a blockchain-based digital asset circulation method and system. The method comprises: authenticating an identity of an asset circulation initiator user; receiving an user instruction issued by the initiator user who passes the authentication, wherein the user instruction comprises an asset issuance instruction, an asset transfer instruction, and an asset destructioninstruction; generating a circulation record according to the user instruction; transmitting the circulation record to a blockchain network; and updating the account balance of an asset transfer initiator user after detecting that the circulation record has reached a consensus in the blockchain network. According to the method and system disclosed by the present invention, rapid circulation of digital assets under the decentralization idea can be realized, and without the complicated conversion of transit institutions, exchange institutions or the like, the point-to-point digital asset circulation transaction can be completed by using the technical advantages of the blockchain; and the security and accuracy of the digital asset circulation transaction are ensured, the free flow of digitalassets between any roles is realized, and the circulation channels of digital assets are greatly expanded.