Intertwined Blockchain Ledgers for Secure Token Vaulting
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Solution Overview
Problem
Current blockchain systems face challenges in securely and efficiently managing token ownership and custodianship, particularly in ensuring the immutability and authenticity of digital assets across permissioned and permissionless networks, while maintaining scalability and security.
Innovation Solution
The implementation of intertwined blockchains with differential permissioning and vaulting, where a public exchange ledger records transactions and a private asset ledger manages authoritative copies of digital assets, using vault unique identifiers and smart contracts to ensure secure and immutable storage and transfer of assets.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If digital assets are stored on a public blockchain ledger, then transaction transparency and accessibility are improved, but security and ownership authenticity deteriorate due to lack of centralized control
Solution Approach 1:
The system divides the blockchain into two separate ledgers: a public exchange ledger for transaction recording and a private asset ledger for authoritative asset storage. This segmentation allows each ledger to serve its specific function optimally - the public ledger provides accessibility while the private ledger ensures authenticity and security through centralized control.
Solution Approach 2:
The private asset ledger acts as an intermediary between the public exchange ledger and the actual digital assets. It verifies ownership authenticity before allowing transactions to proceed on the public ledger, thus maintaining security while enabling public accessibility.
2Stability of the object's composition
If all transaction data and asset information are recorded on a single blockchain, then data consistency is improved, but system performance and scalability worsen due to increased complexity
Solution Approach 1:
By segmenting the blockchain into specialized ledgers (public exchange ledger and private asset ledger), each ledger can be optimized for its specific purpose. The public ledger handles high-volume transactions efficiently while the private ledger maintains authoritative records, improving overall system scalability without sacrificing data consistency.
Solution Approach 2:
The system adds a dimensional separation between transaction recording and asset storage by creating distinct ledgers. This dimensional change allows the system to scale horizontally by adding more nodes to each ledger type independently, while maintaining data consistency through cryptographic links between the ledgers.
3Reliability
If centralized control is implemented for asset management, then security and ownership verification are improved, but decentralization benefits and accessibility deteriorate
Solution Approach 1:
The system segments control functions by placing asset management and ownership verification on the private asset ledger with centralized control for security, while allowing the public exchange ledger to operate with decentralized participation for accessibility and flexibility. This segmentation enables both centralized security and decentralized adaptability to coexist.
Solution Approach 2:
Different parts of the system have different control characteristics: the private asset ledger has centralized control for security-critical functions, while the public exchange ledger has decentralized control for transactional flexibility. This local quality differentiation allows the system to optimize security where needed while maintaining decentralization benefits where appropriate.
Data Source
AI summary
Systems and methods of the present disclosure include receiving an electronic request to exchange data items. A digital asset associated with the exchange of the data items is generated including a vault unique identifier, and an asset owner. An exchange block is generated on an exchange chain to record the electronic request. An asset copy is generated on the exchange ledger chain to record a non-permissioned copy of the digital asset independent from the vault unique identifier. An asset block is generated on an asset ledger chain to record an authoritative copy of the digital asset associated with the exchange of the data items on the exchange chain; where the asset block header includes an asset block hash concatenated with the vault unique identifier associated with the digital asset. The authoritative copy of the digital asset associated with the electronic request is displayed in response to a user selection.