Hardware Wallet Multi-Blockchain Key Management
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Solution Overview
Problem
Current blockchain technologies require users to possess private keys for multiple networks, making it cumbersome and insecure to perform transactions across different blockchain systems, as each network uses its own encryption system and keys, limiting inter-blockchain operability and user convenience.
Innovation Solution
A data processing device with a secure portion that generates and manages private and public keys using an N of M authorization protocol, allowing digital signing only after successful verification by multiple distinct private keys, ensuring secure and convenient inter-blockchain transactions without exposing private keys externally.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If users possess private keys for multiple blockchain networks, then they can perform transactions across different blockchain systems, but it becomes cumbersome and insecure
Solution Approach 1:
The patent combines multiple blockchain network operations into a single device (hardware wallet) that can store and manage private keys for multiple networks simultaneously. This merging eliminates the need for users to separately manage multiple devices or software applications, thereby improving ease of operation while maintaining adaptability across different blockchain systems.
Solution Approach 2:
The hardware wallet is designed with universal functionality to support multiple blockchain networks and cryptographic algorithms (e.g., Bitcoin, Ethereum, and other EVM-compatible networks). This multi-functionality allows a single device to perform transactions across different blockchain systems, resolving the contradiction by providing both versatility and user convenience through a unified interface.
2Adaptability or versatility
If users possess private keys for multiple blockchain networks, then they can perform transactions across different blockchain systems, but security is compromised
Solution Approach 1:
The patent segments the storage and management of private keys by isolating them within a secure hardware environment (hardware wallet) that is physically separated from computer systems and networks. This segmentation prevents digital attacks and unauthorized access, thereby maintaining security while enabling multi-network operability through the same device.
Solution Approach 2:
The hardware wallet acts as an intermediary between the user and multiple blockchain networks. It securely holds private keys and performs cryptographic operations without exposing the keys to external systems. This intermediary role enables inter-blockchain transactions while maintaining security by preventing direct access to sensitive cryptographic materials.
3Ease of operation
If a single device manages multiple private keys, then user convenience is improved, but the complexity of key management increases
Solution Approach 1:
The hardware wallet implements self-service functionality by automatically managing multiple private keys through a unified interface. Users interact with a single device that handles key selection, cryptographic operations, and transaction signing without requiring users to manually configure or manage individual keys for each network. This self-service approach simplifies key management while maintaining the ability to operate across multiple blockchains.
Data Source
AI summary
A data processing device for performing a digital signature includes a secure portion, wherein the secure portion includes a private data processing device key and/or wherein the secure portion includes a seed configured to generate at least one pair of a private data processing device key and a public data processing device key. The data processing device further includes an authorization protocol. The data processing device is configured to digitally sign a data element with a private data processing device key in the secure portion in response to successful completion of the authorization protocol.