View source for 20240039742. ALERT ACCOUNT simplified abstract (nChain Licensing AG)

=ALERT ACCOUNT=


==Organization Name==

[[:Category:nChain Licensing AG|nChain Licensing AG]]


[[Category:nChain Licensing AG]]

==Inventor(s)==

[[:Category:Liuxuan Pan of London (GB)|Liuxuan Pan of London (GB)]][[Category:Liuxuan Pan of London (GB)]]

[[:Category:Chloe Tartan of London (GB)|Chloe Tartan of London (GB)]][[Category:Chloe Tartan of London (GB)]]

[[:Category:Craig Steven Wright of London (GB)|Craig Steven Wright of London (GB)]][[Category:Craig Steven Wright of London (GB)]]

==ALERT ACCOUNT - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240039742 titled 'ALERT ACCOUNT

==Simplified Explanation==

The computer-implemented method described in the patent application is for alerting users to on-chain events. It involves an alerting entity that performs the method and a primary user who is associated with a primary user public key. The method includes the following steps:

1. Identifying one or more event transactions, each containing event data.
2. Generating a primary alert transaction, which includes a first output locked to the primary user public key and a second output containing alert data. The alert data includes a respective identifier for each identified event transaction.
3. Transmitting the primary alert transaction to the blockchain network.

Bullet points explaining the patent/innovation:

* The method alerts users to on-chain events by generating and transmitting a primary alert transaction.
* The primary alert transaction includes a first output locked to the primary user public key, ensuring only the primary user can access it.
* The second output of the primary alert transaction contains alert data, including identifiers for each identified event transaction.
* By associating event data with the primary user, the method enables targeted alerts for specific events.
* The primary alert transaction is transmitted to the blockchain network, ensuring the alert is recorded and accessible to all participants.

Potential applications of this technology:

* Cryptocurrency platforms can use this method to alert users about specific on-chain events, such as incoming transactions or changes in account balances.
* Smart contract platforms can utilize this method to notify users about contract executions or updates.
* Blockchain-based supply chain systems can employ this method to alert participants about important events, such as product shipments or quality control checks.

Problems solved by this technology:

* The method solves the problem of efficiently notifying users about on-chain events without relying on external communication channels.
* It ensures that the alert data is securely associated with the primary user and accessible only to them.
* By transmitting the primary alert transaction to the blockchain network, the method ensures the alert is recorded immutably and can be verified by all participants.

Benefits of this technology:

* Users can receive real-time alerts about on-chain events, enabling them to take immediate actions if necessary.
* The method provides a secure and tamper-proof way of associating event data with the primary user.
* It eliminates the need for centralized alerting systems, reducing reliance on third-party services and potential vulnerabilities.
* By leveraging the blockchain network, the method ensures transparency and trust in the alerting process.


==Original Abstract Submitted==

a computer-implemented method of alerting users to on-chain events, wherein a primary user is associated with a primary user public key, and wherein the method is performed by an alerting entity and comprises: identifying one or more event transactions, wherein each event transaction comprising respective event data; generating a primary alert transaction, wherein the primary alert transaction comprises a first output locked to the primary user public key, and a second output comprising alert data, and wherein the alert data comprises a respective identifier of each identified event transaction; and transmitting the primary alert transaction to the blockchain network.



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