Virtual Monetary Unit Security Key Generation and Verification
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Solution Overview
Problem
Current crowdfunding platforms face limitations in managing virtual monetary units, particularly when dealing with a large number of projects, as they struggle to verify transactions in a short time, leading to potential security breaches and inefficiencies.
Innovation Solution
A method for generating and verifying security keys for virtual monetary units involves creating two cryptographic fingerprint parts: one for the project and one for the user, with random characters inserted at predetermined positions, allowing for efficient key verification and maintaining security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If current encryption methods are used to manage virtual monetary units, then security and integrity of transactions are guaranteed, but the platform cannot handle a large number of projects and transactions due to verification time constraints
Solution Approach 1:
The security key is divided into two distinct parts: a first part containing a cryptographic fingerprint of the project identifier, and a second part containing a cryptographic fingerprint of the monetary unit identifier. This segmentation allows the verification process to first validate the project level (first part) and then the specific monetary unit level (second part), significantly reducing the overall verification time while maintaining security
Solution Approach 2:
The cryptographic fingerprints are pre-calculated and stored in the database during the creation of projects and monetary units. When verification is needed, the system retrieves these pre-computed fingerprints and compares them with the provided key parts, eliminating the need for time-consuming real-time cryptographic calculations during transaction verification
2Reliability
If the platform verifies each of the millions of transactions in detail, then security is maintained, but the computing power required exceeds the capacity of typical servers
Solution Approach 1:
The verification process is segmented into two independent stages: first verifying the project identifier fingerprint, then verifying the monetary unit identifier fingerprint. This two-stage approach reduces the computational complexity from O(n) where n is the total number of transactions, to O(1) for each stage by using hash-based lookup, making it feasible for typical servers to handle millions of transactions
Solution Approach 2:
Instead of storing and processing the full monetary unit identifiers and project identifiers during verification, the system uses cryptographic fingerprints (hashes) as compact representations. These fingerprints serve as unique copies that can be quickly compared without requiring the original data, significantly reducing memory and processing requirements
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This approach significantly reduces the time required for key verification while ensuring maximum security, even with a large number of projects, by using hash functions and unique identifiers, thus preventing fraudulent activities.
Implementation Method 1
said cryptographic fingerprints are obtained by applying a hash function
Data Source
Figure 1
AI summary
The present invention relates to a method of generating a security key of a virtual monetary unit of a project, acquired by a user of a client device (1) connected by a network (20) to a platform (2) comprising data storage means (22) storing a database of virtual monetary units each at least associated with: a unique identifier of the monetary unit, a unique identifier of the project of said virtual monetary unit, and a unique identifier of said user having acquired said virtual monetary unit; the method being characterized in that it comprises the implementation by data processing means (21) of the platform (2) of steps of: (a) generation of a first security key part representative of the project, said first key part comprising a first cryptographic imprint of at least the unique identifier of said project, and a plurality of random characters inserted at predetermined positions in said first imprint; (b) generation of a second security key part representative of the monetary unit, said second key part comprising a second cryptographic imprint of at least the identifier of the virtual monetary unit and the identifier of the user; (c) transmission to said device (1) of a message comprising the first and second parts of the security key. The present invention relates to an associated method of verifying a security key of a virtual monetary unit of a project, acquired by a user of a client device.