20240022631. MALLEABILITY OF TRANSACTIONS FOR INCLUSION IN A BLOCKCHAIN simplified abstract (nChain Licensing AG)

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MALLEABILITY OF TRANSACTIONS FOR INCLUSION IN A BLOCKCHAIN

Organization Name

nChain Licensing AG

Inventor(s)

Wei Zhang of London (GB)

Craig Wright of London (GB)

Jack Davies of London (GB)

MALLEABILITY OF TRANSACTIONS FOR INCLUSION IN A BLOCKCHAIN - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240022631 titled 'MALLEABILITY OF TRANSACTIONS FOR INCLUSION IN A BLOCKCHAIN

Simplified Explanation

The abstract describes a method for recording a target transaction in a blockchain. The method involves obtaining an updated version of the target transaction, which is updated relative to a pre-existing first version. Instead of using the first version, the updated version is sent to be propagated through a network of nodes and recorded in the blockchain.

  • The target transaction includes an input with an unlocking script and a pointer to an output of a first transaction.
  • The output of the first transaction has a locking script that specifies multiple alternative conditions for unlocking it.
  • The unlocking script of the first version of the target transaction is designed to unlock the first output based on one of the alternative conditions.
  • The unlocking script of the updated version is configured to unlock the first output based on a different alternative condition.

Potential applications of this technology:

  • Secure and transparent record-keeping: The method allows for secure and transparent recording of transactions in a blockchain, ensuring the integrity and immutability of the recorded data.
  • Smart contracts: The ability to specify multiple alternative conditions for unlocking outputs can be utilized in the implementation of smart contracts, enabling more complex and flexible transaction conditions.

Problems solved by this technology:

  • Data integrity: By recording transactions in a blockchain, the method ensures the integrity of the recorded data, preventing tampering or unauthorized modifications.
  • Trust and transparency: The use of a network of nodes and the decentralized nature of blockchain technology provide trust and transparency in transaction recording, eliminating the need for intermediaries.

Benefits of this technology:

  • Security: The method enhances the security of transactions by utilizing cryptographic techniques and the decentralized nature of blockchain technology.
  • Efficiency: By updating the target transaction instead of creating a new one, the method reduces the computational and storage overhead associated with recording transactions in a blockchain.
  • Flexibility: The ability to specify multiple alternative conditions for unlocking outputs allows for more flexibility in transaction design and implementation.


Original Abstract Submitted

a method of recording a target transaction in a blockchain, comprising: obtaining an updated version of the target transaction, being updated relative to a pre-existing first version; and instead of the first version, sending the updated version to be propagated through a network of nodes to be recorded in the blockchain. the target transaction comprises an input comprising an unlocking script and a pointer to an output of a first transaction, the output of the first transaction comprising a locking script specifying a plurality of alternative conditions for unlocking that output. the unlocking script of the first version of the target transaction is configured to unlock the first output of the first transaction based on a first of said alternative conditions, and the unlocking script of the updated version is configured to unlock it based on a second one of said alternative conditions.

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