TOKEN-BASED OFF-CHAIN INTERACTION AUTHORIZATION

Organization Name

Visa International Service Association

Inventor(s)

Benjamin Price of Rockingham VA (US)

Yuexi Chen of Foster City CA (US)

Mahdi Zamani of Mercer Island WA (US)

Ranjit Kumaresan of Sunnyvale CA (US)

Mihai Christodorescu of San Francisco CA (US)

TOKEN-BASED OFF-CHAIN INTERACTION AUTHORIZATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240303635 titled 'TOKEN-BASED OFF-CHAIN INTERACTION AUTHORIZATION

The abstract of the patent application describes methods and systems for token-based off-chain interaction authorization. A hub computer maintains a network of off-chain channels between itself, cryptocurrency issuer computers, and cryptocurrency custodian computers, corresponding to underlying blockchains. The hub computer receives an access token, a resource provider identifier, and an interaction value, then updates the state of the off-chain channels based on the interaction value and transmits an authorization response message.

Off-chain interaction authorization system
Hub computer managing network of off-chain channels
Access token, resource provider identifier, and interaction value used for authorization
Updating off-chain channels based on interaction value
Transmitting authorization response message

Potential Applications: - Secure cryptocurrency transactions - Authorization for off-chain interactions - Enhanced security for blockchain networks

Problems Solved: - Ensuring secure off-chain interactions - Efficient authorization processes - Enhancing blockchain network security

Benefits: - Improved security for cryptocurrency transactions - Streamlined authorization processes - Enhanced trust in blockchain networks

Commercial Applications: Title: Secure Off-Chain Interaction Authorization System This technology can be utilized in cryptocurrency exchanges, financial institutions, and blockchain networks to enhance security and streamline authorization processes, leading to increased trust and efficiency in transactions.

Questions about Token-Based Off-Chain Interaction Authorization: 1. How does the hub computer identify the cryptocurrency issuer and custodian computers? The hub computer uses the access token and resource provider identifier to identify the associated computers.

2. What is the significance of maintaining off-chain channels in this system? Maintaining off-chain channels allows for faster and more efficient authorization of interactions between different parties in the blockchain network.

Original Abstract Submitted

methods and systems for token-based off-chain interaction authorization are disclosed. a hub computer can maintain a network of off-chain (or “layer two”) channels between itself, cryptocurrency issuer computers, and cryptocurrency custodian computers. these off-chain channels correspond to one or more underlying blockchains. the hub computer can receive an access token, a resource provider identifier, and an interaction value. the hub computer can use the access token to identify a cryptocurrency issuer computer associated with the mobile device, and use the resource provider identifier to identify the cryptocurrency custodian computer associated with the access device. the hub computer can update the state of the off-chain channels corresponding to these two computers based on the interaction value, then transmit an authorization response message.