Secure Network Session for Blockchain Address Validation

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Solution Overview

Problem

Conventional virtual currency exchange platforms face challenges in securely sharing and validating public blockchain addresses, particularly for financial institutions that prefer not to expose their addresses publicly and may require new addresses for each transaction, lacking industry standards or services for secure validation and exchange.

Innovation Solution

The system employs an existing secure network infrastructure, such as SWIFTNet, to authenticate and validate public blockchain addresses, using secure network sessions and message formats to securely share and exchange cryptocurrency transactions, ensuring authentication and validation of public blockchain addresses across computing systems.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If financial institutions use public blockchain addresses for cryptocurrency transactions, then transaction capability is enabled, but security is compromised due to public exposure of addresses

Engineering Contradiction:

Improvetransaction capabilityVSAvoidsecurity

Core Design Contradiction:

Ease of operationVSReliability

Solution Approach 1:

The system performs preliminary validation of the recipient's blockchain address through a secure network session before the actual cryptocurrency transaction. The recipient device sends its blockchain address and an amount through the secure network, and the sender device validates this information before executing the transaction, preventing fraud and errors in advance

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

A secure network infrastructure acts as an intermediary between sender and recipient devices. This secure network session mediates the exchange of blockchain addresses and transaction amounts, providing authentication and validation services that enhance security while enabling transaction capability

Inventive Principle:

Principle #24Intermediary (Mediator)

2Ease of operation

If conventional platforms allow public exposure of blockchain addresses, then transaction simplicity is improved, but vulnerability to attacks increases

Engineering Contradiction:

Improvetransaction simplicityVSAvoidvulnerability to attacks

Core Design Contradiction:

Ease of operationVSObject-affected harmful factors

Solution Approach 1:

The secure network infrastructure serves as a trusted intermediary that facilitates address sharing without public exposure. The system establishes authenticated sessions between parties, allowing them to exchange blockchain addresses securely through the intermediary network rather than publicly, thereby maintaining simplicity while reducing vulnerability to man-in-the-middle attacks

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The system applies preliminary anti-action by implementing validation mechanisms that prevent harmful actions before they can occur. The recipient device validates the sender's address and transaction amount through the secure network session before the transaction is executed, counteracting potential fraud and attacks in advance

Inventive Principle:

Principle #9Preliminary anti-action

3Reliability

If organizations use new addresses for each transaction, then security is improved through address rotation, but complexity of address management increases

Engineering Contradiction:

Improvesecurity through address rotationVSAvoidaddress management complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The secure network infrastructure provides multi-functional services including authentication, validation, and address management in a single integrated system. This universal platform handles address rotation and management tasks automatically, maintaining security through address rotation while reducing the complexity burden on individual organizations

Inventive Principle:

Principle #6Universality (Multi-functionality)

4Measurement precision

If additional external interfaces are implemented for address validation, then validation capability is improved, but system complexity increases

Engineering Contradiction:

Improvevalidation capabilityVSAvoidsystem complexity

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The system merges address validation functionality into the existing secure network session infrastructure. Rather than adding separate external validation interfaces, the validation capabilities are integrated into the authenticated communication channel already established between sender and recipient devices, improving validation capability while minimizing additional system complexity

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS20240394669A1Systems and methods for securely sharing public blockchain addresses

Publication Date: 2024.11.28 CITIBANK N A

AI summary

A system includes a first processor configured to transmit to a second processor via a secure network session, a first payload configured for a transaction in a public blockchain network including a transaction amount, and a wallet address of a cryptocurrency account, and, in response to receiving, from a blockchain node associated with the cryptocurrency account, an indication that the cryptocurrency account has received a first monetary amount via the public blockchain network, transmit, to the second processor via the secure network session, a second payload indicating the first monetary amount that is less than the transaction amount. In response to the second processor validating the first monetary amount, the second processor transmits, using a blockchain node associated with the cryptocurrency account, a remainder of the transaction amount to the cryptocurrency account via the public blockchain network.