Multi-party Blockchain Address Scheme for UTXO Spending
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Solution Overview
Problem
Existing blockchain transaction schemes require computationally expensive Merkle proofs and additional signature checks, leading to high computational and storage costs when spending unspent transaction outputs (UTXOs).
Innovation Solution
A method for generating a blockchain transaction that uses a shared hash value generated by combining public keys of multiple parties, allowing any party to spend a UTXO without requiring Merkle proofs or additional signature checks, by using a locking script that verifies a target signature and hash value matching a shared hash value, reducing computational and storage requirements.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If Merkle proofs and additional signature checks are used to verify multi-party UTXO spending, then security and authorization verification are improved, but computational cost and storage requirements increase significantly
Solution Approach 1:
The patent extracts the expensive Merkle proof verification and additional signature checks from the UTXO spending process. Instead, it uses a simplified locking script that only requires a standard signature verification against a public key derived from hashing the combination of all parties' public keys. This removes the computationally burdensome components while maintaining the multi-party authorization requirement.
Solution Approach 2:
The patent changes the verification parameter from complex Merkle proofs and multiple signatures to a single signature verification against a hashed public key. The locking script uses a hash function to combine all parties' public keys into a single verification key, transforming the multi-party verification problem into a standard single-key signature check, thereby reducing computational complexity.
2Adaptability or versatility
If Merkle proofs are used for multi-party UTXO spending, then multi-party authorization is enabled, but storage complexity and data size increase
Solution Approach 1:
The patent merges all parties' public keys into a single hashed value that serves as the verification key in the locking script. Instead of storing and verifying separate Merkle proofs for each party, the system combines all public keys using a hash function, creating a compact representation that enables multi-party authorization without the storage overhead of individual proof structures.
3Productivity
If standard signature verification is used without Merkle proofs, then computational efficiency is improved, but multi-party authorization capability is lost
Solution Approach 1:
The patent creates a universal locking script structure that can handle both single-party and multi-party authorization scenarios. The same script template is used regardless of the number of parties, with the public key simply derived from hashing one or more parties' public keys. This provides multi-functionality, allowing the system to maintain standard signature verification efficiency while adapting to multi-party authorization needs through the hashed public key mechanism.
Data Source
AI summary
A method of generating a blockchain transaction comprising: generating a transaction comprising a locking script comprising a first shared hash value (HV) generated by applying a hash function (HF) to a second shared HV, wherein the second shared HV is generated by applying a HF to a combination of the respective public keys, and wherein the locking script is configured to require an unlocking script to comprise a target public key, a target signature, and an intermediate HV generated based on all but one of the respective public keys, apply the HF to the target public key to generate a target HV, combine the target HV and the intermediate HV to generate a target second shared HV, apply the HF to the target second shared HV to generate a target first shared HV, an verify that the target first HV matches the first shared HV, and verify the target signature.