AXEL Blockchain Segmented Ledger for Private Transactions
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Solution Overview
Problem
Current blockchain technologies lack efficient and scalable methods for private transaction management of digital content while maintaining network trust and integrity, often compromising user privacy and security.
Innovation Solution
The Autonomous eXchange via Entrusted Ledger (AXEL) blockchain employs a unique public and private chain approach, utilizing smart contracts and a witness consensus algorithm to enable private transactions, secure storage, and decentralized storage, ensuring user control and privacy through a distributed network with utility tokens and advanced identity management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a public blockchain ledger is used to ensure network trust and integrity, then transparency and verification are improved, but user privacy and transaction confidentiality deteriorate
Solution Approach 1:
The patent divides the blockchain ledger into two distinct segments: a public chain that maintains network trust, transaction verification, and consensus, and a private chain that stores sensitive user data, personal information, and confidential transaction details. This segmentation allows each chain to serve its specific purpose without compromising the other - the public chain ensures reliability while the private chain protects user privacy.
Solution Approach 2:
The patent introduces a bridging mechanism that connects the public and private chains. This intermediary layer enables selective data sharing and verification between the two chains, allowing the public chain to verify transaction validity without exposing sensitive information stored on the private chain. The bridge acts as a mediator that maintains trust while preserving confidentiality.
2Object-affected harmful factors
If private keys are stored locally in user wallets for security, then unauthorized access is reduced, but key management complexity and loss risk increase
Solution Approach 1:
The patent introduces a trusted third-party service or decentralized identity management system that acts as an intermediary for private key management. This intermediary can securely store backup copies of private keys, manage key recovery processes, and facilitate secure key distribution without compromising the security model. Users can retrieve or recover their keys through this intermediary service, reducing the complexity of self-managed key storage while maintaining security through cryptographic protocols.
3Reliability
If all transaction details are recorded on the public ledger for verification, then network security is improved, but scalability and transaction privacy deteriorate
Solution Approach 1:
The patent segments transaction data into public and private components. Only essential verification information (such as transaction hashes, sender/receiver addresses, and validation results) is recorded on the public chain, while detailed transaction information is stored on the private chain. This segmentation reduces the data burden on the public ledger, improving scalability and transaction throughput while maintaining network security through selective verification.
4Object-affected harmful factors
If decentralized storage is implemented for digital content, then user control and security are improved, but storage efficiency and access management worsen
Solution Approach 1:
The patent introduces a decentralized storage coordination system that acts as an intermediary between users and distributed storage nodes. This intermediary manages storage allocation, tracks content locations across the decentralized network, and handles access requests without centralizing control. It maintains security by implementing access control policies and encryption management while simplifying storage operations for users through automated coordination protocols.
Data Source
AI summary
An Autonomous Exchange via Entrusted Ledger (AXEL) blockchain is discussed herein. The AXEL blockchain enables users to perform transactions in a private setting while enabling the transaction records thereof to be verified by other network users without publicly divulging the contents or details of the transaction records. The token identification system and method allows the tokens to carry an immutable identification to prevent negative blockchain occurrences such as double spending. A payment methodology allowing integration of external financial institutions with user owned and managed wallet. The AXEL blockchain can also interface with and utilize a distributed database to create an immutable record of each transaction while providing a complete backup of the transactions that occur within the system and on the AXEL blockchain. A method for protecting the private key ensures wallet access is only granted to the account owner.