Temporary Blockchain Addresses for Unregistered Asset Transfers
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Solution Overview
Problem
Existing blockchain systems require participants to be registered and onboarded before they can transfer assets, posing a challenge when the recipient is not yet a member of the blockchain network.
Innovation Solution
Implementing an identity-based encryption scheme to generate a temporary blockchain address for asset transfer, allowing non-registered parties to temporarily hold assets until they onboard, using a subset of custodian peers selected via a user's identifier.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a centralized platform is used to store and maintain data, then security and control are improved, but adaptability to decentralized scenarios is worsened
Solution Approach 1:
The patent segments the centralized data storage into multiple distributed nodes (blockchain peers), where each peer maintains a copy of the data. This segmentation allows the system to maintain security through distribution while adapting to decentralized scenarios where no single point of control exists.
Solution Approach 2:
The patent introduces identity-based encryption as an intermediary mechanism that enables secure data transfer between centralized and decentralized environments. The encryption scheme acts as a mediator that allows non-registered parties to temporarily hold assets until they onboard, bridging the gap between centralized control and decentralized adaptability.
2Reliability
If registration and onboarding are required before asset transfer, then security is improved, but ease of operation is worsened
Solution Approach 1:
The patent implements preliminary action by pre-generating temporary blockchain addresses and encryption keys for future recipients before they actually onboard to the network. This allows asset transfers to be initiated in advance, and the recipients can claim their assets later through a simplified process using their identifier, eliminating the need for immediate registration.
Solution Approach 2:
The identity-based encryption scheme serves as an intermediary that enables secure asset transfers to non-registered parties. It mediates between the requirement for security (registration) and ease of operation (immediate transfer), allowing transfers to proceed before the recipient is fully onboarded while maintaining security through cryptographic mechanisms.
3Adaptability or versatility
If a temporary blockchain address is generated for non-registered parties, then adaptability is improved, but device complexity is worsened
Solution Approach 1:
The system implements self-service by automatically generating temporary blockchain addresses and encryption keys based on the recipient's identifier without requiring manual intervention or pre-registration. The cryptographic operations are performed automatically by the system, reducing the perceived complexity for users while enabling adaptability to non-registered parties.
Solution Approach 2:
The patent changes the parameter of address generation from requiring full registration to accepting simple identifiers (such as email addresses or names). This parameter change simplifies the user input requirements while the underlying cryptographic complexity is handled by the system, balancing adaptability with manageable complexity.
Data Source
AI summary
An example operation may include one or more of transmitting a user identifier to a plurality of blockchain peers of a blockchain network, receiving a plurality of public keys from the plurality of blockchain peers, receiving a plurality of ciphertexts from the plurality of blockchain peers generated based on the user identifier and a corresponding plurality of private keys, generating a combined ciphertext that includes the plurality of ciphertexts and generating a temporary blockchain address of the blockchain network based on the plurality of public keys, and storing the combined ciphertext and a transfer of an asset via the temporary blockchain address of the blockchain network.