Alias-Based Addressing for Distributed Ledger Transactions
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Solution Overview
Problem
Current blockchain systems face difficulties in user-friendly destination addressing for cryptocurrency payments due to the complex and non-intuitive format of public addresses, making it challenging to identify and use the correct addresses for transactions.
Innovation Solution
A method and system for facilitating transactions on a distributed ledger that uses an alias-based addressing mechanism, where an alias associated with a digital wallet can be used to identify the payment service and obtain the necessary public address, eliminating the need for users to manage or cache complex public addresses.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If public addresses are used for cryptocurrency payments, then security and network recognition are improved, but user-friendliness and ease of operation deteriorate due to complex formats
Solution Approach 1:
The patent introduces an intermediary system consisting of a directory service and resolution mechanism that maps user-friendly aliases to blockchain public addresses. This intermediary layer allows users to interact with the system using simple, memorable aliases while the underlying infrastructure handles the complex address resolution and validation, thus maintaining both security and user-friendliness
2Reliability
If complex public addresses are used, then cryptographic security is improved, but memory requirements and information management complexity increase for users
Solution Approach 1:
The patent creates a simplified copy or representation of the public address in the form of an alias. Instead of requiring users to manage and remember the actual complex public address, the system maintains a mapping where the simple alias copy refers to the full public address through the directory service, reducing information management burden while preserving security
3Ease of operation
If aliases are introduced as intermediaries, then ease of operation is improved, but system complexity and infrastructure requirements increase
Solution Approach 1:
The patent leverages existing universal infrastructure components such as DNS-like directory services and standard resolution protocols to implement the alias system. By using multi-functional existing infrastructure rather than building dedicated specialized systems, the patent reduces overall system complexity while still providing the benefits of simplified addressing
Data Source
AI summary
The present disclosure relates to methods, devices and/or systems associated with a transaction for a distributed ledger, such as the Bitcoin blockchain. In some embodiments, the present disclosure relates to a method for performing payer entity validation, based on the request. In other embodiments the present disclosure relates to a method for implementing asynchronous processing of a request sent by a payer entity, when a payee entity is non-responsive.