Multi-Signature Smart Contract Wallets for Secure Ledger Actions
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Solution Overview
Problem
Conventional cloud computing environments and public trust ledgers lack integration and security mechanisms for managing transactions, particularly in on-demand database systems, leading to potential security risks and inefficiencies in managing digital assets and smart contracts.
Innovation Solution
Implementing a smart contract multi-signature policy that requires multiple authorized signatures for actions, using a crypto transaction envelope to secure and transmit requests to a public trust ledger, ensuring secure and transparent transaction management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a cloud computing environment is used for transaction management, then ease of operation and platform availability are improved, but security and trust are worsened due to centralized control by service providers
Solution Approach 1:
The patent introduces a database system as an intermediary layer between cloud computing services and public trust ledgers. This mediator handles the complexity of cryptographic operations and ledger interactions, providing secure transaction management without requiring users to directly interact with the blockchain infrastructure. The database system maintains security while preserving ease of operation by abstracting the complexity.
2Reliability
If a public trust ledger is used for transaction recording, then security and transparency are improved, but functionality and operational capabilities are worsened due to lack of platform support
Solution Approach 1:
The database system is designed to support multiple functions: it manages cryptographic key storage, handles transaction signing, interacts with public trust ledgers, and provides user-friendly interfaces. This multi-functional platform enables diverse operations (asset management, smart contract deployment, token minting) while maintaining security through unified cryptographic protocols.
3Reliability
If multi-signature policies are implemented, then security is improved by preventing single-entity harmful actions, but device complexity increases due to additional authentication requirements
Solution Approach 1:
The database system automatically manages multi-signature authentication processes without requiring manual intervention for each signature operation. When a transaction requires multiple signatures, the system automatically identifies authorized signers, retrieves their cryptographic keys, collects signatures, and validates the transaction according to the multi-signature policy. This automation reduces operational complexity while maintaining enhanced security.
Data Source
AI summary
A request to perform an action related to a smart contract deployed on a blockchain may be received at a database system. The smart contract may be associated with a multi-signature authorization policy including one or more signature criteria for performing the action. A respective signature request message may be transmitted to a plurality of recipients. The signature request messages may identify the smart contract and the action. A plurality of signature response messages may be received. Two or more of the signature response messages may include a respective signature generated based on a respective private cryptographic key. An action execution message may be transmitted to execute the smart contract to perform the action. The action execution message may include the two or more signatures. The smart contract may be configured to perform the action when the two or more signatures comply with the multi-signature authorization policy.