Non-Fungible Digital Asset Authenticity via Cryptographic Metadata
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Solution Overview
Problem
Current systems lack effective methods for ensuring the authenticity of non-fungible digital assets, which are unique or have limited distinguishable versions, on distributed ledgers.
Innovation Solution
A system utilizing cryptographic keys and metadata to encode and verify the authenticity of digital assets, where each asset is associated with a unique identifier and digital signature stored on a distributed ledger, allowing for distinguishable and secure tracking of ownership and transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If cryptographic keys and digital signatures are used to ensure authenticity of non-fungible digital assets, then security and reliability are improved, but device complexity and computational overhead increase
Solution Approach 1:
The system performs preliminary actions by generating and storing digital signatures in metadata during asset creation. The signature is computed in advance over encoded information containing the asset identifier and smart contract address, so that authenticity verification can be performed later without complex real-time computations.
Solution Approach 2:
The patent uses digital signatures as cryptographic copies that verify authenticity without requiring access to the original private key. The signature serves as a verifiable copy of the authentication process, allowing multiple parties to verify asset authenticity independently through public key cryptography.
2Reliability
If digital assets are made distinguishable with unique identifiers and metadata, then non-fungibility and individuality are improved, but data storage requirements and processing complexity increase
Solution Approach 1:
The patent extracts only the essential information needed for authenticity verification into the metadata: an encoded combination of the asset identifier and smart contract address, along with its digital signature. This minimal extraction approach ensures distinguishability without storing redundant or excessive data.
3Reliability
If encoded information and digital signatures are stored in metadata, then authenticity verification capability is improved, but metadata size and processing time increase
Solution Approach 1:
The verification process benefits from preliminary action because the digital signature is computed and stored in advance during asset creation. When verification is needed, the system only needs to recompute the signature over the same encoded information and compare it with the stored signature, rather than performing complex cryptographic operations in real-time.
Data Source
AI summary
Systems and methods for determining authenticity of non-fungible digital assets are disclosed. Exemplary implementations may: store information, wherein the stored information includes information regarding a given type of digital assets, including a first digital asset; generate a first quantity of encoded information, based on encoding an identifier of a smart contract and an asset-specific identifier that identifies the first digital asset; generate a digital signature of the first quantity of encoded information, wherein the digital signature is based on a private key associated with the smart contract; and record the first quantity of encoded information and the digital signature as part of the metadata of the first digital asset.