Selective Asset Transfer Data Access via Blockchain Encryption
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Solution Overview
Problem
Centralized databases face issues such as single points of failure, dependency on network connectivity, limited access, and slow transaction speeds, which are exacerbated by the computational expense of privacy-preserving solutions like zero-knowledge proofs in blockchain networks for asset transfer operations.
Innovation Solution
A decentralized blockchain system with selective access mechanisms, utilizing encryption and zero-knowledge proofs to ensure privacy and integrity of asset transfers, allowing only authorized auditors to access transaction data while maintaining immutability and security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If zero-knowledge proofs are used to preserve privacy in blockchain asset transfers, then privacy is improved, but computational cost and verification time increase significantly
Solution Approach 1:
The patent applies partial action by implementing selective privacy preservation - not all transaction data is hidden, but only specific sensitive fields (sender, recipient, amount) are protected using zero-knowledge proofs, while other necessary data remains visible for validation and auditing purposes
Solution Approach 2:
The patent applies local quality by differentiating the level of privacy protection applied to different parts of the transaction data - sensitive personal and financial information receives strong cryptographic protection via zk-SNARKs, while transaction metadata and audit-relevant information remains accessible in plaintext
2Speed
If SNARK-based solutions are used for lightweight verification, then verification speed is improved, but proof generation becomes computationally expensive and requires trusted setup
Solution Approach 1:
The patent introduces a trusted setup phase as an intermediary process that generates cryptographic parameters once, which are then reused for multiple proof generations. This separates the heavy computational burden of parameter generation from routine verification operations
Solution Approach 2:
The patent performs preliminary actions by conducting the trusted setup and parameter generation in advance before actual asset transfers occur. These pre-computed parameters enable subsequent fast verification without repeating the expensive setup process
3Reliability
If centralized databases are used to store asset data, then data management and security control are improved, but single points of failure and network dependency increase
Solution Approach 1:
The patent segments the centralized database into multiple distributed blockchain nodes, each maintaining a copy of the ledger. This distributes the single point of failure across multiple independent systems, eliminating the vulnerability of centralized storage while maintaining data integrity through consensus mechanisms
Data Source
AI summary
An example operation may include one or more of connecting, by a participating node, to a blockchain configured to store user assets, receiving, by the participating node, login data from a user, receiving, by the participating node, an asset transfer request from the user identified by the login data, the asset transfer request including identification data of an asset recipient, confirming, by the participating node, that the user is an owner of the asset based on a previous asset transfer transaction associated with the user, verifying, by the participating node, integrity and validity of the asset based on blockchain records, determining, by the participating node, that the asset recipient is a registered user of the blockchain, in response to the determining, by the participating node, that the asset recipient is the registered user of the blockchain, encrypting, by the participating node, an asset transfer transaction by a public key associated with a private key of an auditor; and providing, by the participating node, the encrypted asset transfer transaction to the auditor.