Divisible Blockchain Tokens for Replay Double-Spend Prevention
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Solution Overview
Problem
Existing blockchain systems do not effectively address the issue of replay double spending and are limited to electronic cash, lacking flexibility in representing various assets and services.
Innovation Solution
The system utilizes a blockchain network to distribute divisible tokens that can represent any asset, allowing them to be divided into sub-tokens, and includes security features to prevent replay double spending, while maintaining transparency and auditability.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If blockchain systems use traditional electronic cash transactions, then security against double spending is improved, but versatility in representing various assets and services deteriorates
Solution Approach 1:
The patent segments a single token into multiple sub-tokens, where each sub-token represents a divisible portion of the original asset. This allows the token to be split into smaller units while maintaining security through blockchain's transaction verification mechanisms, thereby achieving both reliability and versatility.
Solution Approach 2:
The patent creates a universal token system that can represent multiple types of assets and services beyond electronic cash, including but not limited to digital goods, services, and rights. The divisible token structure enables a single system to handle various asset types, achieving multi-functionality while maintaining security.
2Quantity of substance
If blockchain increases data capacity in transactions, then ability to store complex data is improved, but system complexity and security risks worsen
Solution Approach 1:
The patent extracts the token data from complex transaction structures and places it in dedicated output fields of blockchain transactions. By separating token representation from general transaction data, the system can store complex asset information while maintaining simpler verification processes, thus reducing security risks despite increased data capacity.
3Reliability
If a trusted bank issues electronic cash in the Ok-Oh system, then security against double spending is improved, but adaptability to represent various assets and services deteriorates
Solution Approach 1:
The patent eliminates the need for a trusted bank by enabling the blockchain system itself to verify and secure token transactions. The divisible token structure combined with blockchain's inherent verification mechanisms allows the system to self-validate transactions, removing the central authority while maintaining security and expanding adaptability to various assets.
Data Source
AI summary
A computer-implemented method of generating a second transaction for a blockchain. The blockchain comprises a first transaction comprising a first token and a first output transferring an amount of a digital asset between a second party and a first party. The first token represents a first amount of a token asset other than the digital asset, the second transaction is for transferring a second token representing a second amount of the token asset from a first party to a third party. The method is performed by the first party and comprises generating the second transaction. The second transaction comprises a first input configured to unlock the first output of the first transaction, and a first output comprising the second token. The second token comprises data representing the second amount of the token asset, the second amount being less than the first amount.