Blockchain Digital Tokens Using Physical-Device Multi-Key Encryption
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Solution Overview
Problem
Existing blockchain systems face security vulnerabilities as malicious users can access and replicate digital tokens due to compromised encryption keys, breaking the link between digital tokens and their underlying assets.
Innovation Solution
Generate and maintain digital tokens using multiple encryption keys, where metadata and asset location are encrypted with different keys, requiring multiple keys to decrypt, thereby increasing computational complexity and security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a single encryption key is used to secure digital tokens, then the system is easier to operate, but security is compromised allowing malicious users to access and replicate tokens
Solution Approach 1:
The patent segments the encryption system by using multiple separate encryption keys instead of a single key. Each key encrypts different portions of the digital token or asset information, so that compromising one key does not expose the entire token. This segmentation approach directly resolves the contradiction by improving security through key distribution while maintaining operational simplicity through automated multi-key management.
Solution Approach 2:
The patent creates a composite encryption structure where multiple encryption keys work together to secure the digital token. Rather than using a single cryptographic layer, the system combines multiple encryption layers with different keys, creating a composite security mechanism that is more resilient to attacks while the system abstracts away the complexity from the user.
2Reliability
If multiple encryption keys are used to secure digital tokens, then security is improved, but computational complexity increases
Solution Approach 1:
The patent applies preliminary action by pre-distributing multiple encryption keys to different authorized parties before the digital token is created or transferred. This allows the system to establish security relationships in advance, so that when the token is minted or transferred, the multi-key encryption can be applied efficiently without requiring complex real-time key generation or exchange, thus reducing computational energy consumption during critical operations.
3Ease of operation
If encryption keys are stored in accessible locations for easy retrieval, then ease of operation is improved, but security is worsened as keys become vulnerable to compromise
Solution Approach 1:
The patent segments the key storage and retrieval process by distributing different encryption keys to different wallets or storage locations. Each key can be independently retrieved and managed, improving ease of operation for each individual key while the distributed nature of key storage inherently improves security by eliminating single points of failure. The system maintains operational simplicity through automated key management protocols.
Data Source
AI summary
Certain aspects of the present disclosure provide techniques for generating digital tokens associated with an asset on a blockchain. An example method generally includes receiving a request to create a digital token corresponding to an asset. A first private key is received. This first private key may be associated with a wallet in which the digital token is to be stored. A second private key is received from a physical device associated with an owner of the asset. An address of the asset is encrypted with a public key associated with the second private key. Metadata associated with the digital token is encrypted with a public key associated with the first private key. The digital token is minted on a blockchain based on the encrypted address of the asset and the encrypted metadata.