Blockchain Time Lock with External Data
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Solution Overview
Problem
Existing time lock mechanisms in blockchain transactions lack variability and sophistication, relying on simplistic absolute or relative time locks that cannot utilize external data for controlling when outputs can be unlocked, leading to complex and resource-intensive solutions for more nuanced control.
Innovation Solution
A method that calculates a time-related value using external data and incorporates it into a time lock mechanism within a single transaction script, allowing for conditional unlocking based on predetermined times or ranges, using operations like CLTV and CSV, enabling more granular control over when a blockchain output can be spent.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional absolute or relative time lock mechanisms (nLockTime, CLTV, nSequence, CSV) are used to control when blockchain outputs can be unlocked, then the basic time locking function is achieved, but the system lacks variability and sophistication, cannot utilize external data for controlling unlocking times, and requires complex multi-transaction arrangements for nuanced control
Solution Approach 1:
The patent changes the parameter of time lock control from fixed absolute or relative time values to variable time values derived from external data through cryptographic hashing. The external data parameter is introduced to transform the locking mechanism, allowing dynamic control of unlocking times based on varying external inputs rather than static predetermined times.
Solution Approach 2:
The patent introduces a cryptographic hash function as an intermediary between external data and the blockchain time lock mechanism. The external data is hashed to produce a time lock value that the blockchain network can verify without accessing the original external data, serving as a mediator that bridges external information sources with the blockchain's deterministic validation process.
2Adaptability or versatility
If multiple transactions with different simple time locks are used to provide variability in unlocking times, then more control options are available, but the solution becomes far more complex and requires significant resources to generate, process, manipulate and store the multiple transactions
Solution Approach 1:
The patent merges the functionality of multiple separate time-locked transactions into a single transaction by incorporating external data-driven time lock values directly into the locking script. This consolidation eliminates the need to create, manage, and store multiple separate transactions while achieving the same or greater variability in unlocking control.
Solution Approach 2:
The patent creates a universal time lock mechanism that can serve multiple unlocking scenarios through a single transaction structure. By using external data as input to the hash function, the same locking script can produce different valid unlocking times based on different external inputs, making the single transaction multi-functional rather than requiring dedicated transactions for each scenario.
3Reliability
If the blockchain is designed as a self-contained system that does not reference outside data, then security and integrity are maintained, but the ability to incorporate externally sourced data for controlling unlocking is prevented
Solution Approach 1:
The patent uses cryptographic hashing as an intermediary layer that allows external data to influence blockchain state without compromising security. The hash function transforms arbitrary external data into a deterministic, verifiable value that the blockchain can process without needing to trust or validate the original external data source, maintaining the self-contained verification model while enabling external data incorporation.
Solution Approach 2:
The patent replaces the mechanical approach of direct external data integration (which would require trust assumptions and complex validation) with a cryptographic substitution. Instead of the blockchain directly interpreting or trusting external data, it uses cryptographic hash functions to transform external data into a form that can be verified through mathematical proof, substituting trust-based mechanisms with mathematically guaranteed ones.
Data Source
AI summary
The invention comprises a solution for securing an output (UTXO) in a single blockchain (e.g. Bitcoin) transaction (TX) so that it can only be unlocked by an authorised party at an allowed time, and in accordance with external data supplied to the transaction's locking script. The invention may comprise two steps which are implemented within a redeem script provided within the UTXO's locking script: 1) Calculation of a time-related value (which we will call Tsupplied) using the external data provided; and 2) use of the calculated Tsupplied value in a time lock technique to ensure that unlocking occurs at a time pre-determined time. The invention allows external data to be introduced into the time lock control of a transaction on the blockchain. It also includes a technique for combining absolute and relative time locks (e.g. CLTV and CSV as known in the Bitcoin protocol).