Digital Asset Access Transfer Using Threshold Key Shares
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing blockchain-based cryptocurrency systems face inefficiencies and security vulnerabilities, particularly in multi-signature schemes like '2 of 3' systems, which compromise privacy, increase transaction size, and are computationally expensive, making them unsuitable for high-frequency transactions and exposing clients to trust issues with exchanges.
Innovation Solution
A threshold digital signature scheme using polynomial secret sharing and a trusted third party (TTP) to emulate a '2 of 3' multi-signature system, ensuring secure and rapid transaction signing by distributing key shares among participants, enabling secure wallet services even if one participant is unresponsive or malicious.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If multi-signature systems like '2 of 3' are used to enhance security, then security is improved, but transaction size increases and computational cost increases
Solution Approach 1:
The patent segments the private key into multiple shares distributed among participants using secret sharing schemes. Instead of requiring multiple complete private keys for multi-signature, the system divides one private key into n shares where any t shares can reconstruct it, reducing transaction size while maintaining security.
Solution Approach 2:
The patent introduces a trusted third party (TTP) as an intermediary to facilitate key share distribution and verification. The TTP generates and distributes key shares to participants, enabling secure threshold signature generation without requiring complex multi-signature protocols, thus reducing transaction complexity.
2Reliability
If multi-signature systems like '2 of 3' are used to enhance security, then security is improved, but computational expense increases making them slow
Solution Approach 1:
The patent performs preliminary key share distribution and verification before the actual transaction signing. The TTP pre-distributes key shares to participants, and the system pre-establishes the threshold signature mechanism. This allows rapid transaction signing without repeated complex cryptographic operations, improving productivity while maintaining security.
3Reliability
If traditional multi-signature systems are used, then access control is improved, but privacy is compromised and trust issues arise
Solution Approach 1:
The patent extracts the trust requirement from the transaction process itself. Instead of requiring multiple participants to sign each transaction (which compromises privacy), the system extracts the trust function to the TTP during key share distribution. Once distributed, the threshold signature mechanism provides access control without requiring ongoing trust verification, preserving privacy.
4Reliability
If existing threshold signature schemes with zero-knowledge proofs are used, then security is improved, but computational complexity increases making them unsuitable for high-frequency transactions
Solution Approach 1:
The patent replaces expensive zero-knowledge proof mechanisms with more efficient cryptographic primitives. The system uses standard elliptic curve cryptography and threshold signature schemes that are computationally lighter, making them suitable for high-frequency transactions while maintaining security through proven cryptographic methods rather than expensive proof systems.
Data Source
AI summary
A method of transferring access to a digital asset is disclosed. The method comprises receiving a first blockchain transaction from a first participant by each of a plurality of second participants. The first participant has a first private key of a first private-public key pair of a cryptography system, and each participant has a respective first share of a second private key of a second private-public key pair of the cryptography system, and the first blockchain transaction is signed with the first private key. Signature of the first blockchain transaction with the first private key is verified by each second participant. A respective first share is applied to the first blockchain transaction to generate a respective second share of a second blockchain transaction signed with the second private key. Signature with the second private key is possible by means of a first threshold number of second shares.