Offline Blockchain Transaction Signing via Key Deletion
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Solution Overview
Problem
Current electronic data transfer systems, such as those using blockchain, require an active internet connection to process transactions, leading to potential misuse when devices are offline, as they may continue to attempt transactions without sufficient funds or proper authorization.
Innovation Solution
A method and system for offline blockchain transactions involve generating a second private key and destination address on a computing device, digitally signing a transaction using the first private key, deleting the first private key to prevent further unauthorized transactions, and transmitting the signed transaction offline, ensuring that the second private key retains access to remaining currency until the initial transaction is processed.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If the first private key is deleted after signing to prevent misuse, then security against unauthorized transactions is improved, but the ability to access remaining currency is lost
Solution Approach 1:
A second private key and destination address are generated in advance before the first private key is deleted. This preliminary action ensures that access to remaining currency is preserved while maintaining security by preventing the first private key from being misused.
2Adaptability or versatility
If offline transactions are allowed without network connection, then transaction capability is improved, but risk of misuse without proper authorization increases
Solution Approach 1:
The first private key is deleted after signing as a preliminary anti-action to prevent any subsequent unauthorized transactions. This ensures that even if the device remains offline, the signed transaction cannot be duplicated or misused, thereby mitigating the risk of misuse while allowing offline transaction capability.
3Productivity
If the device attempts transactions without sufficient funds, then transaction processing is improved, but loss of funds or unauthorized transactions occur
Solution Approach 1:
The system provides feedback by monitoring the balance and preventing transaction signing when sufficient funds are not available. This feedback mechanism ensures that transactions are only processed when there are adequate funds, preventing loss of funds or unauthorized transactions while maintaining transaction processing capability.
Data Source
AI summary
A method for offline transmission of blockchain details includes: storing, in a computing device, a first private key and a currency amount; receiving a first destination address associated with a blockchain network and a transaction amount; generating a second private key; generating a second destination address associated with the blockchain network using the second private key; generating a blockchain transaction including at least the first destination address, the transaction amount, the second destination address, and a remainder amount based on at least the currency amount and the transaction amount; signing the generated blockchain transaction using the first private key; executing a query to replace the first private key with the second private key, wherein replacement of the first private key includes deletion of the first private key from the computing device; and transmitting the generated blockchain transaction.