Wallet Nodes Secure Peer-to-Peer Transactions
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Solution Overview
Problem
Current systems face challenges in trust and reliability due to centralized and hierarchical public key infrastructures, where users cannot evaluate the credibility of root certification authorities, and there is a risk of key usurpation and denial of commitments, leading to issues with transaction security and trust in peer-to-peer networks.
Innovation Solution
The implementation of a peer-to-peer network architecture using 'Wallet Nodes' that execute 'Wallet Programs' and interact through 'Wallet Messages', ensuring secure transactions by relying on Smart Contracts, System-on-Chips, and Trusted Execution Environments, which allows for secure execution of executable contracts and avoids the need for a shared blockchain security chain, enabling reliable and trustworthy transactions without the risk of double spending.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a centralized public key infrastructure is used, then key management is simplified, but trust and reliability deteriorate due to inability to evaluate root certification authorities and risk of key usurpation
Solution Approach 1:
The patent segments the centralized key management into distributed peer-to-peer key verification. Each node independently verifies cryptographic keys and commitments without relying on a central authority, dividing the trust verification function across multiple independent entities rather than consolidating it in a single point of failure.
Solution Approach 2:
The patent introduces cryptographic commitments and executable contracts as intermediaries between parties. These commitments serve as trusted mediators that enforce agreement terms automatically, replacing the need for centralized certification authorities while maintaining reliability through cryptographic guarantees.
2Reliability
If a blockchain security chain is used, then transaction security is improved, but transaction speed and volume deteriorate due to confirmation delays limiting transactions to about 7 per second
Solution Approach 1:
The patent extracts the essential security function from the blockchain consensus mechanism. Instead of requiring full blockchain confirmation for each transaction, the system extracts and applies cryptographic commitment verification directly in peer-to-peer interactions, removing the bottleneck of sequential block processing while retaining security guarantees.
Solution Approach 2:
The patent implements preliminary cryptographic commitments that bind parties to future actions before transactions occur. These pre-established commitments enable rapid transaction verification without requiring real-time blockchain consensus, allowing transactions to proceed at higher speeds while maintaining security through pre-verified agreement terms.
3Reliability
If peer-to-peer executable contracts are implemented, then transaction reliability is improved by eliminating double spending risk, but system complexity increases due to need for distributed code execution and verification
Solution Approach 1:
The patent implements universal executable contracts that can operate across different peer-to-peer platforms and applications. These standardized contracts provide multi-functional security guarantees (preventing double spending, ensuring commitment fulfillment, enabling trustless interactions) that work across diverse scenarios, reducing the need for application-specific complexity while maintaining high reliability.
Data Source
AI summary
The invention relates to a method of managing commitments between entities forming the nodes of a network, each entity being housed in a computer processing unit, characterized in that it comprises the following steps: establishing commitments (ENij) between commitment provider entities (Ei) and commitment beneficiary entities (Ej), one and the same entity being able to be both a commitment provider in relation to one or more other commitment beneficiary entities and a commitment beneficiary in relation to other commitment provider entities, upon the default of an commitment on the part of a defaulting commitment provider entity, noted from a beneficiary entity benefiting from this same commitment, communicating to the provider entity from said beneficiary entity, and at least one other entity (upstream entity) whose defaulting provider entity is beneficiary, an indication of default of a commitment, and, in response to this communication, altering at least one commitment whose defaulting provider entity is beneficiary. The invention is also aimed at various systems and methods capable, in a secure manner, of implementing programs or commitments which are executable at the level of a set of nodes of a network, for various applications.