Database Voucher System for Secure Blockchain Transaction Authorization
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Solution Overview
Problem
Conventional systems for interacting with public trust ledgers, such as blockchain, lack efficient techniques for transaction management, security, and scalability, particularly in enterprise-level digital asset exchanges, and often rely on costly and unreliable methods for authorizing wallet actions and setting transaction prices.
Innovation Solution
An on-demand database system generates vouchers authorizing actions on a smart contract, allowing for secure and dynamic wallet-specific transaction pricing and lazy minting, where tokens are minted directly to the recipient's wallet, eliminating security risks and reducing costs by avoiding pre-minting and transfer processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If conventional systems are used for interacting with public trust ledgers, then basic transaction recording is achieved, but transaction management efficiency, security, and scalability are insufficient
Solution Approach 1:
The patent introduces a database system as an intermediary between users and the public trust ledger. This intermediary manages transactions efficiently through centralized coordination while the ledger itself maintains decentralized security. The database system handles transaction validation, pricing, and authorization, reducing the burden on the ledger and improving overall system efficiency without compromising security.
Solution Approach 2:
The system segments transaction management into two distinct layers: (1) a database system layer that handles efficient transaction processing, validation, and pricing, and (2) a public trust ledger layer that provides secure, immutable recording. This segmentation allows each layer to optimize for its specific function, improving overall productivity while maintaining reliability.
2Productivity
If centralized control is implemented for transaction authorization, then transaction management becomes efficient, but system reliability and trust are reduced
Solution Approach 1:
The database system acts as a trusted intermediary that implements centralized authorization efficiently. Rather than requiring all participants to trust each other directly, the database system provides a neutral, reliable layer that validates transactions and coordinates actions. This maintains high productivity through centralized management while preserving trust through the intermediary's neutral position and transparent operations.
3Adaptability or versatility
If tokens are pre-minted and transferred, then transaction flexibility is achieved, but security risks and costs increase
Solution Approach 1:
The system performs preliminary validation and authorization of transactions through the database system before tokens are minted on the public trust ledger. This preliminary action ensures that all security checks, pricing validations, and authorization approvals occur beforehand, eliminating the need for post-minting transfers and reducing security risks while maintaining transaction flexibility.
Solution Approach 2:
The patent extracts the security-risk-prone pre-minting and transfer processes from the transaction flow. Instead of minting tokens in advance and transferring them (which creates security vulnerabilities), the system only mints tokens directly to the final recipient after all validations are complete. This removes the harmful intermediate steps while preserving transaction flexibility through the database system's coordination.
4Adaptability or versatility
If dynamic wallet-specific pricing is implemented, then transaction adaptability improves, but system complexity increases
Solution Approach 1:
The database system serves as an intermediary that manages complex wallet-specific pricing logic. It maintains pricing rules, validates transactions against these rules, and coordinates with the public trust ledger. This concentrates the complexity in a single, manageable layer while keeping the overall system simple and maintainable, as the database system handles all pricing adaptability requirements centrally.
Data Source
AI summary
A relational database stores customer relations management information including a plurality of transaction records that reflect tokens minted on a blockchain and transferred to customers of a plurality of tenants. A blockchain interface may deploy to the blockchain a smart contract owned by an owner account associated with a designated tenant. The smart contract may be linked to a voucher creator account assigned to a voucher creator role, which may be linked to a voucher public key stored on the blockchain in association with the smart contract and a voucher private key. A transaction voucher authorizing a voucher recipient account to execute the smart contract to perform an action may be created and signed with the voucher private key. The smart contract may include an executable function to perform the action after validating the transaction voucher by decrypting the transaction voucher with the voucher public key.