Kelvin Zero Inc. (20240333500). SYSTEMS, METHODS, AND DEVICES FOR SECURE BLOCKCHAIN TRANSACTION AND SUBNETWORKS simplified abstract
Contents
SYSTEMS, METHODS, AND DEVICES FOR SECURE BLOCKCHAIN TRANSACTION AND SUBNETWORKS
Organization Name
Inventor(s)
Philippe Desmarais of Montréal (CA)
Thierry St-jacques-gagnon of Montréal (CA)
SYSTEMS, METHODS, AND DEVICES FOR SECURE BLOCKCHAIN TRANSACTION AND SUBNETWORKS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240333500 titled 'SYSTEMS, METHODS, AND DEVICES FOR SECURE BLOCKCHAIN TRANSACTION AND SUBNETWORKS
Simplified Explanation: The patent application describes a system for securely conducting blockchain transactions of digital assets using a terminal that can operate in different modes and a cold storage device for storing private keys.
Key Features and Innovation:
- System for secure blockchain transactions of digital assets
- Terminal with first and second modes of operation
- Switch connector to prevent simultaneous operation in both modes
- Terminal connected to system provider server and blockchain devices in first mode
- Terminal communicates with cold storage device in second mode
- Cold storage device stores private key for signing transactions
Potential Applications: This technology can be applied in various industries such as finance, supply chain management, healthcare, and more where secure transactions of digital assets are required.
Problems Solved: The system addresses the need for secure blockchain transactions by providing a secure way to store and access private keys for signing transactions.
Benefits:
- Enhanced security for blockchain transactions
- Efficient management of private keys
- Flexibility in operation modes for different transaction scenarios
Commercial Applications: The technology can be utilized by financial institutions, e-commerce platforms, and other businesses that deal with digital assets to ensure secure and reliable transactions.
Prior Art: Readers can explore prior patents related to blockchain transaction security, digital asset management, and secure storage of private keys to understand the existing technology landscape.
Frequently Updated Research: Stay updated on the latest advancements in blockchain technology, cybersecurity, and digital asset management to enhance the security and efficiency of blockchain transactions.
Questions about Blockchain Transaction Security: 1. How does the system ensure the security of private keys stored in the cold storage device? 2. What measures are in place to prevent unauthorized access to the terminal and cold storage device?
Original Abstract Submitted
provided herein is a system, device, method, and subnetwork for performing a secure blockchain transaction of a digital asset. the system includes a terminal for generating the blockchain transaction, the terminal configured to operate in a first mode and a second mode, and a switch connector for preventing the terminal from operating in the first mode and the second mode simultaneously. when the terminal is in the first mode, the terminal is connected via a network to a system provider server, the system provider server in communication with a plurality of blockchain devices. when the terminal is in the second mode, the terminal is in communication with a cold storage device. the cold storage device is configured to store a private key for signing the blockchain transaction. the terminal is configured to sign the blockchain transaction on the cold storage device using the private key.
