Standardizing Blockchain Addresses Across DLT Systems
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Solution Overview
Problem
Current distributed ledger technology (DLT) systems lack interoperability, requiring users to generate and manage separate addresses and access data for each system, leading to increased administrative effort and security risks due to the inability to use addresses across different DLT systems.
Innovation Solution
A computer-implemented method and system for generating a secret using a signature function to create a private key in one DLT system, allowing its use in another, utilizing asymmetric cryptography to securely manage key pairs and automate access across systems, thereby simplifying and securing interactions between DLT systems.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If separate addresses and access credentials are generated for each DLT system, then interoperability between systems is improved, but device complexity and administrative overhead increase
Solution Approach 1:
The patent implements a universal address format that can be used across multiple DLT systems. The address structure includes a DLT-specific identifier field that allows the same address format to function in different blockchain environments (Bitcoin, Ethereum, IOTA, etc.), eliminating the need for system-specific addresses while maintaining compatibility through the embedded identifier.
Solution Approach 2:
The patent embeds DLT system identifiers within the address structure itself, creating a nested information architecture. The address contains both the universal identifier and the specific DLT system code, allowing one address to encapsulate multiple layers of information that enable both universality and system-specific functionality.
2Adaptability or versatility
If multiple access credentials are stored for different DLT systems, then system versatility is improved, but security risks increase due to user negligence
Solution Approach 1:
By creating a single universal address that works across multiple DLT systems, the patent eliminates the need for users to manage multiple separate credentials. The same address can be used for Bitcoin, Ethereum, IOTA, and other systems, reducing security risks associated with poor credential management while maintaining versatile system access.
3Adaptability or versatility
If standardized address generation is implemented across DLT systems, then interoperability is improved, but manufacturing precision requirements increase
Solution Approach 1:
The patent segments the address generation process into distinct components: a universal identifier portion, a DLT system identifier field, and a user-specific key portion. This segmentation allows each component to be generated and validated independently, reducing the overall precision requirements while ensuring the complete address meets interoperability standards across different systems.
Solution Approach 2:
The patent employs parameter changes by incorporating DLT-specific identifier values into the address structure. By changing the identifier parameter based on the target DLT system (Bitcoin=1, Ethereum=2, IOTA=3, etc.), the same address generation mechanism can produce system-appropriate addresses without requiring high precision in the generation process itself.
Data Source
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AI summary
In distributed ledger technology (DLT) systems, the problem that addresses generated within one DLT system cannot be used in another DLT system needs to be solved. This problem is solved by a computer-implemented method for generating a private key in a first DLT system x for use in at least one second DLT system y. The method comprises the following steps: - Generating a secret for a user A using a processing unit, where the secret is generated using a signature function sig according to the following formula: secretxx_privKeyAx_pubKeyA=sigx_privKeyAx_pubKeyA, - Storing the generated secret in a data store.The invention also relates to a system for generating a private key in a first distributed ledger technology, DLT System x, for using the private key in at least a second distributed ledger technology, DLT System y, and a computer program product comprising instructions which, when the program is executed by a computer, cause it to perform the steps of the method.