Common Blockchain Interoperability Controller
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Solution Overview
Problem
Current blockchain systems face challenges in interoperability between multiple entity-specific and private blockchains, preventing seamless operations and token conversions across different blockchain platforms.
Innovation Solution
A method and system for crypto-ledger interoperability that involves a controller receiving instructions for operations between users on different entity-specific blockchains, using encrypted storage identifiers, and performing token conversions by burning and minting tokens across linked common distributed crypto-ledgers, enabling seamless token transfers and operations between disparate blockchain systems.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple entity-specific blockchains operate independently with their own cryptographic tokens, then each blockchain maintains its own security and operational autonomy, but interoperability between different blockchain platforms is prevented
Solution Approach 1:
The patent introduces a common distributed crypto-ledger system that acts as an intermediary between multiple entity-specific blockchains. This common ledger receives instructions to perform operations between users of different entity-specific blockchains, enabling interoperability without requiring direct integration between each pair of blockchains. The common ledger mediates token conversions and operations by coordinating between the disparate blockchain systems through a centralized coordination mechanism.
Solution Approach 2:
The common distributed crypto-ledger serves multiple functions: it acts as a settlement layer for cross-chain operations, a conversion hub for different cryptographic tokens, and a coordination point for inter-blockchain transactions. By designing the common ledger to handle diverse operations (token burning, minting, transfers) across multiple entity-specific blockchains, the system achieves multi-functionality that enables universal interoperability without requiring separate mechanisms for each operation type.
2Adaptability or versatility
If a common distributed crypto-ledger is introduced to enable interoperability, then token conversions and operations between different blockchains are enabled, but system complexity increases
Solution Approach 1:
The system segments functionality by separating the common distributed crypto-ledger from individual entity-specific blockchains. The controller of the common ledger handles high-level coordination and token conversion logic, while each entity-specific blockchain maintains its own operational autonomy and security. This segmentation allows the common ledger to focus on interoperability functions without burdening individual blockchains with complex coordination mechanisms.
Solution Approach 2:
The common distributed crypto-ledger acts as an intermediary that simplifies cross-chain operations by absorbing the complexity of coordination. Instead of requiring each entity-specific blockchain to implement complex peer-to-peer communication and consensus mechanisms with every other blockchain, the common ledger provides a centralized coordination layer that handles token conversions, operation validation, and settlement, thereby reducing the complexity burden on individual blockchain systems.
3Adaptability or versatility
If token burning and minting operations are performed across different blockchains, then seamless token transfers are enabled, but operational time and processing steps increase
Solution Approach 1:
The system performs preliminary actions by pre-establishing the common distributed crypto-ledger infrastructure and token conversion rules before cross-chain operations are needed. Token conversion rates, burning/minting parameters, and operational protocols are predetermined and configured in advance, allowing the common ledger to execute token conversions quickly once a transaction is initiated, rather than computing these parameters in real-time during each cross-chain operation.
Solution Approach 2:
The common distributed crypto-ledger maintains continuous operation and readiness to process cross-chain token conversions. By keeping the common ledger actively running and pre-configured with conversion mechanisms, the system avoids interruptions and repeated setup processes for each token conversion operation, thereby reducing processing time and enabling seamless token transfers across different blockchains.
Data Source
AI summary
Systems and/or methods of the present disclosure enable crypto-ledger interoperability using a controller to perform an operation between a first user and a second user on separate entity-specific distributed crypto-ledgers, where the separate entity-specific distributed crypto-ledgers are both operatively linked to a membered common distributed crypto-ledger. The controller burns a first quantity of first entity-specific crypto-tokens from the first entity-specific distributed crypto-ledger and mints a second quantity of the common crypto-tokens on the membered common distributed crypto-ledger, where the first quantity of first entity-specific crypto-tokens and the second quantity of the common crypto-tokens represent an equivalency. The controller moves the second quantity of common crypto-tokens from a first encrypted storage to a second encrypted storage of the membered common distributed crypto-ledger, burns the second quantity of the common crypto-tokens and mints a third quantity of the second entity-specific crypto-tokens on the second entity-specific distributed crypto-ledger to complete the operation.