Systems of multiple distributed ledgers using cross-ledger transfers for highly-scalable transaction throughput

Abstract

The presently-disclosed solution provides cross-ledger transfers between distributed ledgers to achieve highly-scalable transaction throughput. Disclosed are methods and instruction code for writing a cross-ledger transfer in a way that effectively transfers value from a source distributed ledger to a target distributed ledger while preventing double spending of the value. This results in the transformation of the ledgers in that the total value in the source ledger is decreased by the transferred value while the total value in the target ledger is increased by the same amount. Also disclosed are system architectures that utilize cross-ledger transfers between multiple distributed ledgers to achieve highly-scalable transaction throughput. Also disclosed are computer apparatus configured to implement cross-ledger transfers between distributed ledgers. Other embodiments and features are also disclosed.

Description

CROSS-REFERENCE TO RELATED APPLICATION(S)[0001]The present application claims the benefit of U.S. Provisional Patent Application No. 62 / 607,453, filed Dec. 19, 2017, entitled “Blockchain Ecosystem Using Multiple Blockchains and Cross-Chain Transactions to Achieve Highly-Scalable Transaction Throughput,” the disclosure of which is hereby incorporated by reference. The present application is related to U.S. patent application Ser. No. ______ (attorney docket no. 10062.000110), filed on even date herewith, entitled “Cross-Ledger Transfers Between Distributed Ledgers,” the disclosure of which is hereby incorporated by reference. The present application is also related to U.S. patent application Ser. No. ______ (attorney docket no. 10062.000130), filed on even date herewith, entitled “Computer Apparatus for Cross-Ledger Transfers Between Distributed Ledgers,” the disclosure of which is hereby incorporated by reference.BACKGROUND1. Field of the Invention[0002]The present disclosure relate...

AI Technical Summary

Benefits of technology

[0008]One embodiment of the presently-disclosed invention relates to a method of performing a cross-ledger transfer which transfers digitally-represented economic value from a source distributed ledger to a target distributed ledger in a way that prevents double spending of that value. An initiating transaction is written to the target distributed ledger, and a locking transaction is written to the source distributed ledger. The locking transaction spends a transaction output of an existing transaction in the source distributed ledger and references the initiating transaction in the target distributed ledger. A completing transaction may then be written to the target distributed ledger. The completing transaction spends the transaction output of the initiating transaction and references the locking transaction in the source distributed ledger.

[0009]Another embodiment relates to a non-transitory tangible medium with computer-readable code to perform a cross-ledger transfer. The cross-ledger transfer transfers digitally-represented economic value from a source distributed ledger to a target distributed ledger in a way that prevents double spending of that value.

Problems solved by technology

The transaction throughput of conventional distributed ledger technologies has significant limitations and is not readily scalable.

For example, the BITCOIN blockchain network has highly problematic throughput limitations due to latency and bandwidth issues, along with block size limits.

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