20240054460. DEVICES, SYSTEMS, AND METHODS FOR PUBLIC/PRIVATE KEY AUTHENTICATION simplified abstract (Arculus Holdings, LLC)
DEVICES, SYSTEMS, AND METHODS FOR PUBLIC/PRIVATE KEY AUTHENTICATION
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DEVICES, SYSTEMS, AND METHODS FOR PUBLIC/PRIVATE KEY AUTHENTICATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240054460 titled 'DEVICES, SYSTEMS, AND METHODS FOR PUBLIC/PRIVATE KEY AUTHENTICATION
Simplified Explanation
The abstract describes a system for conducting authentication transactions, such as cryptocurrency transactions, using a secure element (SE) to store encrypted public and private keys, generate public keys, and perform sign and hash operations. A processing device (PD) establishes a connection over NFC with the SE, receives transaction initiation, establishes an NFC link with the SE, and sends information for processing via NFC. The SE retrieves the private key, generates a signature using the private key, confirms the signature with the public key, signs the transaction, and sends the signed transaction information back to the PD for completion.
- System for conducting authentication transactions
- Uses a secure element (SE) to store keys and perform cryptographic operations
- Processing device (PD) establishes NFC connection with SE
- SE generates signature using private key and confirms with public key
- Signed transaction information sent back to PD for completion
Potential Applications
- Cryptocurrency transactions
- Secure authentication processes
- Digital signatures
Problems Solved
- Ensures secure and authenticated transactions
- Protects private keys from unauthorized access
- Prevents tampering with transaction information
Benefits
- Enhanced security for transactions
- Efficient and reliable authentication process
- Protection of sensitive information
Original Abstract Submitted
a system for conducting authentication transactions, such as cryptocurrency transactions, includes a storage device with a secure element (se) that digitally stores encrypted public and private keys, generates a public key using the private key, and performs sign and hash operations. a processing device (pd) is configured to establish a connection over nfc with the se. the pd receives initiation of a transaction via a user interface, establishes an nfc link with the se, and sends the se information for processing via nfc. the secure element retrieves the private key, performs hash operations using the private key to generate a signature, confirms the signature conforms to a public key that could only have been generated using the private key, signs the transaction, and sends signed transaction information to the processing device. the processing device accesses a network and sends signed transaction information operative to complete the transaction.
