18604773. BLOCKCHAIN SYSTEM simplified abstract (HUAWEI TECHNOLOGIES CO., LTD.)
Contents
BLOCKCHAIN SYSTEM
Organization Name
Inventor(s)
BLOCKCHAIN SYSTEM - A simplified explanation of the abstract
This abstract first appeared for US patent application 18604773 titled 'BLOCKCHAIN SYSTEM
The abstract of this patent application describes a method involving the exchange of private key signatures between two blockchain networks.
- The method involves sending a private key signature of a first blockchain to another apparatus in response to a successful consensus on the first blockchain network.
- The second blockchain then sends a private key signature back to the first blockchain, corresponding to the first information.
- The second information is recorded on the first blockchain after successful verification of the private key signature of the second blockchain network.
- This method enhances security and trust between different blockchain networks by verifying private key signatures.
Potential Applications: This technology can be applied in cross-blockchain transactions, secure data exchange between different blockchain networks, and enhancing interoperability between blockchain systems.
Problems Solved: This method addresses the challenge of securely exchanging information between different blockchain networks, ensuring authenticity and preventing unauthorized access.
Benefits: Enhanced security, improved trust between blockchain networks, increased interoperability, and streamlined cross-blockchain transactions.
Commercial Applications: This technology can be utilized by financial institutions for secure cross-border transactions, supply chain management for verifying product authenticity, and in healthcare for securely sharing patient data across different blockchain networks.
Questions about the technology: 1. How does this method improve security in cross-blockchain transactions? 2. What are the potential challenges in implementing this technology in real-world applications?
Original Abstract Submitted
A method includes sending first information that includes a private key signature of a first blockchain to another apparatus in response to a consensus of another node in the first blockchain network on the first information being successful. The first blockchain includes an apparatus. The second blockchain includes the another apparatus. The method further includes receiving second information that includes a private key signature of the second blockchain network. The second information corresponds to the first information. The method further includes recording the second information on the first blockchain in response to verification on the private key signature of the second blockchain network being successful.
