Computer-implemented systems and methods for implementing transfers over a blockchain network
a technology of computer implementation and blockchain network, applied in the field of communication and transfer of resources via a network, can solve the problems of requiring a much larger storage overhead and insufficient supply of txid alon
Pending Publication Date: 2022-05-05
NCHAIN LICENSING AG
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- Abstract
- Description
- Claims
- Application Information
AI Technical Summary
Benefits of technology
This solution allows for secure, efficient, and reliable offline transactions by enabling local verification of blockchain transactions, reducing network burden, and ensuring transaction integrity without the need for constant online connectivity, thereby improving the resilience and efficiency of digital wallet transactions.
Problems solved by technology
This does however require a much larger storage overhead than the Merkle path, as well as requiring that the entire data set is available to the prover.
This change in process gives rise to the technical problem of needing a novel design for both the customer wallet and also for the merchant wallet.
Note that providing the TXID alone would be insufficient as Bob must be able to verify that the TXID is indeed the hash of the transaction.
Method used
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[0015]This invention relates generally to the communication and transfer of resources via a network, and more particularly to transfers conducted over blockchain networks, and also digital wallets. The invention is particularly suited, but not limited to, wallets for processing transfers of cryptocurrencies, tokens and other resources which are implemented on or communicated over a blockchain. The invention provides apparatus and techniques which provide numerous technical advantages including but not limited to, improving the security, versatility, resilience and efficiency of digital wallets and blockchain-based communications.
[0016]In this document we use the term ‘blockchain’ to include all forms of electronic, computer-based, distributed ledgers. These include consensus-based blockchain and transaction-chain technologies, permissioned and un-permissioned ledgers, shared ledgers and variations thereof. The most widely known application of blockchain technology is the Bitcoin led...
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The invention provides improved verification solutions for blockchain-implemented transfers. It is suited for, but not limited to, implementation in an SPV wallet. In accordance with one embodiment, a method, system or resource is provided which enables Alice to transfer an asset eg cryptocurrency or token to Bob across a blockchain. Alice stores complete transaction data relating to at least one blockchain transaction; and the complete Merkle path of the at least one blockchain transaction. This enables her to send Bob the full transaction data for all input transactions (eg Tx1, Tx2) comprising at least one output that she wants to spend as inputs to a transfer (eg Tx3); the Merkle path for all input transactions (Tx1, Tx2) linking them to their respective Merkle roots associated with their respective block headers; a transfer transaction (Tx3). Alice also provides her signature. Bob is then able to perform local SPV checks on the input transactions Tx1, Tx2 using transactions Tx1 and Tx2, their corresponding Merkle paths Path 1, Path 2, and his local list of block headers. Bob broadcasts the transfer transaction (Tx3) to the P2P network.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is the U.S. National Stage of International Application No. PCT / IB2020 / 050737 filed Jan. 30, 2020, which claims the benefit of United Kingdom Patent Application No. 1902086.6, filed Feb. 15, 2019, United Kingdom Patent Application No. 1902088.2, filed on Feb. 15, 2019, United Kingdom Patent Application No. 1902090.8, filed on Feb. 15, 2019, United Kingdom Patent Application No. 1902089.0, filed on Feb. 15, 2019, and United Kingdom Patent Application No. 1902092.4, filed on Feb. 15, 2019 the contents of which are incorporated herein by reference in their entireties.FIELD OF THE INVENTION[0002]This invention relates generally to the communication and transfer of resources via a network, and more particularly to transfers conducted over blockchain networks, and also digital wallets.BRIEF DESCRIPTION OF THE FIGURES[0003]FIG. 1 shows an illustration of an “offline SPV wallet” in accordance with an embodiment of the disclosure....
Claims
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IPC IPC(8): G06Q20/38G06Q20/36G06Q20/22G06Q20/06
CPCG06Q20/3823G06Q20/3827G06Q20/065G06Q20/3829G06Q20/223G06Q20/3678G06Q2220/00H04L9/50H04L2209/56G06Q20/40H04L9/3218H04L9/0825G06Q20/0658G06Q20/341G06Q20/389H04L9/3239G06Q20/38215H04L9/088H04L9/30G06Q20/4014
InventorWRIGHT, CRAIG STEVENDAVIES, JACK OWENMACKAY, ALEXANDER TENNYSON
OwnerNCHAIN LICENSING AG