Proof-of-Intent Blockchain Verification With Notary-Witness Consensus
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Solution Overview
Problem
Existing blockchain technologies face inefficiencies and security vulnerabilities in transaction authorization, with Proof-of-Work requiring excessive computational resources and Proof-of-Stake allowing manipulation by those with more cryptocurrency, lacking a mechanism to balance efficiency and security.
Innovation Solution
A Proof-of-Intent system where a notary system verifies transactions by receiving affirmative responses from a subset of witness systems, ensuring transaction data authenticity before publishing blocks to the blockchain ledger, using a fraction of computational resources and reducing fraudulent incentives.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If Proof-of-Work is used to authenticate transactions, then security is improved, but computational resource consumption increases significantly
Solution Approach 1:
The patent introduces notary systems as intermediary entities that authenticate transactions without requiring full network-wide cryptographic verification. Notaries act as trusted intermediaries that sign transactions, reducing the computational burden on all network participants while maintaining security through the notary's cryptographic signature.
Solution Approach 2:
The authentication process is segmented into different roles: transaction initiators, notary systems, and witness systems. This segmentation allows computational work to be distributed and specialized, with notaries handling authentication and witnesses providing verification, rather than requiring all nodes to perform full Proof-of-Work verification.
2Productivity
If Proof-of-Stake is used to create blocks, then computational efficiency is improved, but security is weakened due to manipulation by large cryptocurrency holders
Solution Approach 1:
Notary systems serve as intermediaries that are selected based on criteria other than cryptocurrency holdings. This intermediary layer prevents direct manipulation by large holders while maintaining efficient block creation, as notaries are chosen through a process that emphasizes trust and verification capability rather than wealth.
Solution Approach 2:
The selection criteria for block creators are changed from cryptocurrency stake (Proof-of-Stake) to notary designation and witness verification. This parameter change fundamentally alters the security model, replacing economic power with a system based on cryptographic signatures and decentralized verification.
3Reliability
If a distributed network of computers is used to verify transactions, then security is improved, but system complexity increases
Solution Approach 1:
The network is segmented into distinct functional components: notary systems for authentication and witness systems for verification. This segmentation simplifies the overall network structure by assigning specific roles to different participants, making the system more manageable and easier to understand while maintaining distributed security.
Data Source
AI summary
Provided is a computer implemented method of authorizing transactions in a blockchain network of participant systems including a first system that sends transaction data to a second system that generates a notary request including the transaction data, at least one notary system and at least one witness system. The method includes the notary system: accepting the notary request from the second system; transmitting the transaction data to the witness systems; determining a subset of responsive witness systems; determining that a required number of affirmative responses has been received from the responsive witness systems; generating a block based on the transaction data; and publishing the block to a ledger of the blockchain network.