Blockchain Local Key Generation with Transaction Restraints
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Solution Overview
Problem
Existing blockchain technologies lack flexibility in recording transactions, as static keys cannot include additional information and do not allow parties to specify transaction conditions, leading to security and transparency issues.
Innovation Solution
A blockchain service system that generates a local key using a private key or a random key, incorporating transaction restraints such as time and location, to preauthorize and execute transactions securely and transparently by storing information in a public blockchain.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If static keys are used in blockchain transactions, then security is maintained through cryptographic simplicity, but flexibility to include additional information and specify transaction conditions is lost
Solution Approach 1:
The patent embeds additional transaction information and conditions within the key structure itself, nesting multiple layers of data (public key, transaction conditions, constraints) within a hierarchical key system. This allows the key to contain both cryptographic functionality and transaction-specific parameters without requiring separate data structures
Solution Approach 2:
The patent transitions from static keys to dynamic keys that can be generated on-demand with specific transaction conditions. Each transaction can have its own customized key derived from the master private key, allowing the key properties to adapt dynamically based on transaction requirements rather than using a fixed key structure
2Reliability
If traditional blockchain transactions are used, then transaction recording is simple, but transparency and security against fraudulent activities are reduced
Solution Approach 1:
The patent performs preliminary verification of transaction conditions and constraints during the key generation phase, before the actual transaction occurs. This pre-authorization mechanism ensures that transactions meeting specified conditions are validated in advance, preventing fraudulent activities before they can execute
Solution Approach 2:
The patent introduces an intermediary key structure that mediates between the transaction parties and the blockchain network. This intermediary key contains embedded conditions and constraints that automatically verify transaction validity, acting as a security layer without requiring complex additional verification protocols
3Loss of information
If more transaction information is stored in blockchain, then transparency is improved, but data requirements and processing needs increase
Solution Approach 1:
The patent extracts and stores only the essential transaction conditions and constraints within the key structure itself, rather than storing complete transaction details in the blockchain. This selective extraction approach maintains transparency by recording critical verification data while minimizing overall data storage requirements
Solution Approach 2:
Instead of storing transaction data and adding verification layers, the patent inverts the approach by embedding verification capabilities directly within the key structure. The key itself becomes the verification mechanism, eliminating the need for separate extensive data storage and processing protocols
Data Source
AI summary
According to one embodiment, a blockchain service device includes an interface, a memory, and a processor. The interface receives a request to perform a blockchain service. The blockchain service includes generating a local key using a private key stored on a user device. The request includes a transaction restraint. The memory stores software used to generate an input to generate the local key. The processor generates the input in response to the request. The input is used to generate a local key that includes the at least one transaction restraint. The interface communicates the input and receives a first block in response to the communication of the input. The first block is generated using the local key and the transaction restraint. The processor inserts the first block in a blockchain, wherein inserting the first block in the blockchain preauthorizes a transaction that is limited by the transaction restraint.