Secure Element Local Validation for Blockchain Transaction Speed
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Solution Overview
Problem
The delay in confirming transactions on distributed electronic ledgers like blockchains, which can take over an hour, hinders the use of digital currency in retail settings where immediate delivery of goods or services is expected, as it introduces significant delays between payment and delivery.
Innovation Solution
A system where secure elements in devices validate transactions locally before transmitting them to a distributed network, ensuring compliance with blockchain rules and personal constraints, allowing for pre-confirmation and immediate exchange without waiting for blockchain confirmation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If transactions are validated through the distributed blockchain network, then transaction integrity and security are ensured, but transaction confirmation time increases significantly (over an hour)
Solution Approach 1:
The secure element performs preliminary validation of transactions locally before they are submitted to the blockchain network. This pre-validation includes checking transaction rules, asset states, and compliance with constraints, so that when the transaction reaches the blockchain, it requires minimal processing time for confirmation
Solution Approach 2:
The secure element acts as an intermediary between the user/device and the blockchain network. It validates transactions locally and only transmits pre-validated transactions to the blockchain, effectively filtering and preparing transactions before they reach the distributed network, thus reducing network validation time
2Reliability
If all transactions wait for blockchain confirmation before delivery, then transaction security is maintained, but immediate delivery of goods or services cannot be provided
Solution Approach 1:
The system performs preliminary validation of transactions in the secure element before submission to the blockchain. This pre-check ensures that only valid transactions are processed, allowing the recipient to have high confidence in the transaction and proceed with immediate delivery while the blockchain confirmation is still pending
Solution Approach 2:
Instead of waiting for complete blockchain confirmation before delivery, the system performs partial validation through the secure element's local rule checking. This partial validation is sufficient for the recipient to trust the transaction and deliver goods or services immediately, without waiting for the full blockchain confirmation process to complete
Data Source
AI summary
A device has a secure element including a memory that stores at least one address, a set of rules, and a state of an asset. A processor is configured for receiving a request to change the state of the asset associated with the address, validating the request in the case where changing the state of the asset according to the request complies with the set of rules, and invalidating the request in the case where changing the state of the asset according to the request violates the set of rules. A communications module is coupled to the secure element for transmitting information responsive to the request to a distributed network of peer processors for recording a change in the state of the asset in a distributed electronic ledger in the case where the secure element validates the request.