Crypto-Asset Payment System Using Atomic Swap Mechanisms
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Conventional crypto-asset payment systems using blockchains face inefficiencies due to the time required for transaction approval, which can lead to inconvenience and insecurity, as transactions can be canceled if not sufficiently approved, making timely and secure payments challenging.
Innovation Solution
A payment system employing atomic swap mechanisms on a distributed ledger, where a secret value is used to facilitate two-stage transactions, allowing pre-authorization and subsequent secure payment without waiting for extensive blockchain approvals, mimicking credit card payment processes to enhance usability and security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional blockchain transaction approval process is used, then transaction security is improved, but transaction processing time increases
Solution Approach 1:
The patent segments the transaction approval process into two distinct phases: (1) a first transaction that locks crypto-assets with a hash value of secret information as spending condition, and (2) a second transaction that spends the locked assets using the secret information. This segmentation allows the first transaction to be quickly recorded on the blockchain for security, while the second transaction can be processed immediately offline using the pre-shared secret information, thereby resolving the contradiction between security and processing time.
Solution Approach 2:
The patent applies preliminary action by pre-establishing the first transaction with the hash value of secret information before the actual payment is needed. This preliminary locking of assets with a cryptographic condition allows the system to ensure security in advance while enabling rapid completion of the actual payment through the second transaction using the pre-shared secret information, thus reducing overall processing time while maintaining security.
2Reliability
If waiting for sufficient block approvals is required, then transaction cancellation risk is reduced, but payment timeliness deteriorates
Solution Approach 1:
The patent replaces the mechanical blockchain consensus mechanism (waiting for multiple block approvals) with a cryptographic substitution mechanism. Instead of relying on the slow mechanical process of waiting for N block confirmations, the system uses cryptographic hashing of secret information embedded in the first transaction and verification through the second transaction. This substitution maintains cancellation prevention reliability while dramatically improving payment timeliness by eliminating the waiting period.
3Productivity
If crypto-asset payment is made without sufficient approvals, then payment speed is improved, but transaction security deteriorates
Solution Approach 1:
The patent introduces secret information as a cryptographic intermediary between the first transaction (locking assets) and the second transaction (spending assets). The hash value of the secret information acts as a mediator that ensures security without requiring slow blockchain confirmations. The first transaction embeds the hash as a spending condition, and the second transaction provides the actual secret information to satisfy this condition, thereby achieving both fast payment speed and high transaction security through the intermediary mechanism.
4Reliability
If two-stage transaction process with secret information is used, then transaction finality is improved, but system complexity increases
Solution Approach 1:
The patent changes the parameter representation of secret information from its raw form to its hash value form in the first transaction, and then back to the original secret information in the second transaction. This parameter transformation (original information → hash value → original information) enables transaction finality by creating a cryptographic lock that can only be opened with the correct secret information, while the systematic application of this parameter change keeps the complexity manageable through consistent cryptographic operations.
Data Source
AI summary
An information processing system includes a first apparatus and a second apparatus. The first apparatus includes a decision unit and a first publicizing unit. The decision unit decides secret information. The first publicizing unit publicizes a first transaction including limitation information enabling retrieving of crypto-assets by using the secret information on a distributed ledger. The second apparatus includes a receiving unit, a second publicizing unit, and an executing unit. The receiving unit receives the secret information. The second publicizing unit receives crypto-assets when the secret information is received by the receiving unit after the first transaction is publicized on a distributed ledger and by publicizing a second transaction including the secret information received by the receiving unit on a distributed ledger. The executing unit performs a predetermined operation in response to reception of the secret information by the receiving unit.