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Cross-chain transaction method based on multiple signatures

A multi-signature and transaction method technology, which is applied in protocol authorization, data processing applications, finance, etc., can solve reverse operations such as inability to move, no corresponding transactions can ensure simultaneous transaction success, and blockchain transaction confirmation speeds are different, etc. question

Pending Publication Date: 2020-08-04
ZEU CRYPTO NETWORKS INC +1
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  • Abstract
  • Description
  • Claims
  • Application Information

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Problems solved by technology

[0004] When conducting asset cross-chain transactions, the transaction confirmation speeds of different blockchains are different, and there is no corresponding transaction that can guarantee that two different chains can trade successfully or fail at the same time. In the event of a failure, the third party cannot drive the transaction of a certain blockchain to perform reverse operations; and the reasonable use of multi-signature technology provides a new solution to solve the above problems

Method used

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  • Cross-chain transaction method based on multiple signatures
  • Cross-chain transaction method based on multiple signatures
  • Cross-chain transaction method based on multiple signatures

Examples

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Embodiment

[0032] (1) Assuming that there are two users A and B, they create two accounts on the alliance chain M, one is the account of A chain assets, and the other is the account of B chain assets; these accounts are multi-signature, here use The number of multi-signature keys is 2, and the number of signature private keys is also 2; one private key is kept by the user himself, and the other private key is kept by M on the alliance chain; the final created accounts are ABTC, AETH, BBTC, BETH, representing A’s A-chain asset and B-chain asset account on M and B’s A-chain asset and B-chain asset account respectively, refer to the attached figure 1 And attached figure 2 .

[0033] (2) Assuming that the initial amounts of the four accounts ABTC, AETH, BBTC, and BETH are all 100, in order to simplify the calculation, the exchange rate of assets on chain A and chain B is set to 1, and user A wants to exchange 10 BTC for 10 BTC ETH, assuming that there is no suitable buy or sell order in t...

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Abstract

The invention discloses a cross-chain transaction method based on multiple signatures. The cross-chain transaction method is characterized by comprising the following steps that (1) an asset account based on multiple signatures is created on an alliance block chain; (2) the user performs cross-chain asset buying and selling operation on a transaction quotation interface; (3) after the buyer and the seller of the transaction reach a consensus, the transaction matching system verifies the consensus and then sends the consensus to the cross-chain transaction system; (4) the cross-chain transaction system performs secondary verification on the transaction information, then signs the transaction to complete multiple signature operations, and finally sends the transaction information to the corresponding block chain for consensus; (5) when an abnormal transaction occurs, the cross-chain transaction system sends transaction information again for the failed transaction of the two parties, andfor the failed transaction of the single party, the alliance chain identifies the abnormal transaction and freezes the additional profit account; the additional profit-gaining user can select reversetransaction or resend failed transaction information, thereby recovering the frozen account quota.

Description

technical field [0001] The invention relates to the application field of block chain technology, in particular to a block chain cross-chain transaction method based on multi-signature technology. Background technique [0002] At present, the user's asset conversion on different blockchains is generally completed through a centralized exchange, which has many disadvantages, such as exchange running away, hacker attacks, etc.; in order to solve this problem, some such as Solutions such as side chains, chain relays, hash locks, etc., but from the actual effect point of view, they cannot solve the problem of cross-chain transactions well. [0003] Multi-signature technology is to use N public keys to jointly generate a multi-signature address. The signature of M private keys is required to consume the assets on this address. At the same time, N>=M must be satisfied. This is the multi-signature of M / N. By using multi-signature technology, the user's assets can be guaranteed t...

Claims

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Application Information

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IPC IPC(8): G06Q20/38G06Q20/40G06Q40/04
CPCG06Q20/3825G06Q20/3829G06Q20/407G06Q40/04
Inventor 蔡维德李家庭
Owner ZEU CRYPTO NETWORKS INC
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