Target address for transactions associated with a distributed ledger
DE602020064498T2Active Publication Date: 2025-12-24NCHAIN LICENSING AG
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Patent Information
- Application Number
- DE602020064498
- Authority / Receiving Office
- DE · DE
- Patent Type
- Patents
- Current Assignee / Owner
- Priority Date
- 2019-12-24
- Filing Date
- 2020-12-11
- Publication Date
- 2025-12-24
- Estimated Expiration
- 2040-12-11
AI Technical Summary
Technical Problem
Current alias-based addressing mechanisms for blockchain transactions are prone to errors and security vulnerabilities due to manual input and lack of fool-proof verification, leading to potential privacy breaches and security risks.
Method used
A method involving encoding an alias with a hash function to generate a unique code, using a predefined set of seed words, which is provided alongside the alias to ensure accurate and secure transactions by verifying the recipient's identity.
Benefits of technology
The method provides a user-friendly, error-resistant, and secure transaction process that enhances the reliability and accuracy of blockchain transactions by ensuring the correct recipient is identified through a unique code derived from the alias's hash value.
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