UICC-Secured Blockchain Micro Transactions
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Solution Overview
Problem
Current systems for secure transaction processing on distributed ledgers face inefficiencies due to the need for trust between entities, high resource consumption, and scalability limitations, particularly for low-value or transient transactions involving IoT devices with low computing power.
Innovation Solution
A method and system that initiates a secure channel between a device and a server using a UICC (SIM) for secure transaction execution on a distributed ledger, leveraging public and private key pairs for authentication and signing, enabling efficient and secure transaction processing across various blockchain networks.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If public blockchains are used to form consensus without trust, then security and decentralization are improved, but resource consumption (computing and electrical power) increases significantly
Solution Approach 1:
The patent introduces a private blockchain as an intermediary layer between devices and the public blockchain. This private blockchain pre-verifies transactions and forms consensus among trusted parties before submitting to the public blockchain, thereby reducing the need for resource-intensive proof-of-work operations on the public chain while maintaining security through the trustless public blockchain's final verification.
2Reliability
If identity verification and trust establishment procedures are implemented, then transaction security is improved, but network overhead and processing load increase
Solution Approach 1:
The patent implements preliminary identity verification and trust establishment through a registration process on the private blockchain before devices engage in transactions. Devices are pre-authenticated and their identities are verified in advance, so that during actual transactions, no additional verification overhead is required. This separates the complex trust-establishment phase from the transaction-execution phase.
3Reliability
If traditional trust-based transaction systems are used, then security between entities is improved, but scalability and efficiency for high-volume low-value transactions deteriorate
Solution Approach 1:
The patent segments the transaction processing system into two layers: a private blockchain layer for high-volume micro-transactions between trusted devices, and a public blockchain layer for final settlement and oversight. The private layer handles the majority of transactions with minimal verification overhead, while the public layer provides security guarantees. This segmentation allows high throughput for routine transactions while maintaining security through the public chain's cryptographic verification.
Data Source
AI summary
Method and system for executing secure transactions, the method comprising the steps of initiating a secure communication channel between a device having a UICC and a server, wherein the secure communication channel is secured using the UICC. Receiving at the server from the device over the secure communication channel, an instruction to execute a transaction. In response to the received instruction, transmitting from the server to a distributed ledger a request to execute the transaction. In response to the request, signing the transaction at the distributed ledger using a public and private key pair stored within the distributed ledger.