Cross-Blockchain Asset Transfer via Smart Contract Mediator
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
In asset exchange systems like cryptocurrency using blockchain, transferring assets across multiple blockchains is cumbersome due to the need for individual authentication and transaction procedures for each blockchain, leading to increased complexity and security risks.
Innovation Solution
A control method that generates and manages third key information to decrypt and transmit key information across multiple blockchains, using Shamir's secret sharing method to distribute decryption keys securely, allowing for asset transfer between multiple blockchains through a single procedure, while ensuring secure storage and protection within a trust zone.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If individual authentication and transaction procedures are performed for each blockchain, then security is maintained, but operation complexity increases and user convenience deteriorates
Solution Approach 1:
The patent combines multiple blockchain authentication procedures into a single unified transaction flow. By using a smart contract that automatically manages asset transfers across multiple blockchains, the system merges separate authentication steps into one consolidated operation, maintaining security while significantly improving user convenience.
Solution Approach 2:
The patent introduces a mediator smart contract that acts as an intermediary between users and multiple blockchains. This mediator handles the complex authentication and coordination logic, allowing users to interact with a single interface while the mediator manages security protocols across different blockchain networks.
2Reliability
If multiple blockchains are used for asset distribution, then security against cyber attacks is improved, but system complexity increases
Solution Approach 1:
The patent creates a universal smart contract system that can operate across multiple blockchain networks with different consensus mechanisms and security models. This multi-functional approach allows the same asset transfer logic to work securely on various blockchains, achieving diversification benefits without proportionally increasing system complexity.
3Manufacturing precision
If individual transaction procedures are required for each blockchain, then transaction accuracy is maintained, but processing time increases
Solution Approach 1:
The patent implements preliminary action by having the smart contract pre-validate all necessary conditions and prepare transaction data before execution. The system performs preliminary checks on asset balances, transfer conditions, and blockchain states in advance, ensuring transaction accuracy while reducing the time needed during actual execution.
Solution Approach 2:
The patent ensures continuity of useful action by implementing atomic transactions that either complete all asset transfers across multiple blockchains simultaneously or revert all changes. This continuous action approach maintains transaction accuracy through all-or-nothing execution while minimizing total processing time compared to sequential individual transactions.
Data Source
AI summary
A control method includes generating third key information, when receiving a recording request for asset information to a blockchain and first key information, based on the first key information and second key information stored in a specific storage area, generating fourth key information by decrypting key information associated with the blockchain among a plurality of pieces of encrypted key information, by using the generated third key information, transmitting the fourth key information and the recording request to the blockchain.