20240048378. PARTITIONING A BLOCKCHAIN NETWORK simplified abstract (nChain Licensing AG)

PARTITIONING A BLOCKCHAIN NETWORK

Organization Name

nChain Licensing AG

Inventor(s)

Dean Kramer of London (GB)

Martin Sewell of London (GB)

Bassem Ammar of Lancaster (GB)

PARTITIONING A BLOCKCHAIN NETWORK - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240048378 titled 'PARTITIONING A BLOCKCHAIN NETWORK

Simplified Explanation

The abstract describes a computer-implemented method for validating a blockchain transaction. Here is a simplified explanation of the abstract:

• The method involves requesting information about at least one unspent transaction output (UTXO) referenced by the transaction from a member node of a shard.
• The validity data of the UTXO is obtained from at least one node.
• A validation check is performed on at least one input of the transaction using the validity data.

Potential applications of this technology:

• Blockchain transactions: This method can be used to validate transactions in a blockchain network, ensuring the inputs are valid and preventing fraudulent or invalid transactions.
• Smart contracts: By validating the inputs of a smart contract transaction, this method can enhance the security and reliability of smart contract execution.

Problems solved by this technology:

• Fraud prevention: The validation check helps prevent fraudulent or invalid transactions from being included in the blockchain, maintaining the integrity of the network.
• Trust and reliability: By validating the inputs, this method ensures that only valid transactions are processed, increasing trust and reliability in the blockchain network.

Benefits of this technology:

• Enhanced security: The validation check adds an extra layer of security to the blockchain network, reducing the risk of fraudulent or malicious transactions.
• Efficient transaction processing: By validating the inputs beforehand, unnecessary processing of invalid transactions can be avoided, improving the efficiency of the network.

Original Abstract Submitted

a computer-implemented method of validating a blockchain transaction is disclosed. the method comprises requesting at least one utxo referenced by at least one respective input of the transaction from a member node of at least one shard comprising at least one utxo, obtaining validity data of at least one utxo from at least one node, and performing a validation check on at least one input using the validity data.