NChain Licensing AG (20240291678). MULTI-LEVEL BLOCKCHAIN simplified abstract
Contents
MULTI-LEVEL BLOCKCHAIN
Organization Name
Inventor(s)
Craig Steven Wright of London (GB)
Katharine Molloy of London (GB)
MULTI-LEVEL BLOCKCHAIN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240291678 titled 'MULTI-LEVEL BLOCKCHAIN
The abstract describes a computer-implemented method of embedding a data chain on a core blockchain using a multi-level (ml) data chain protocol.
- Obtaining ml transactions with carrier pairs, where each input has a signature signing the pair.
- Generating a first ml block on the data chain with carrier pairs from the ml transactions.
- Ensuring each input position corresponds to an output position and creating a first chain output for spending in subsequent blocks.
Potential Applications: - Securing data on a blockchain - Enhancing data integrity and transparency - Facilitating secure transactions and record-keeping
Problems Solved: - Ensuring data authenticity and integrity - Providing a secure and transparent data storage solution - Facilitating efficient and secure transactions on a blockchain
Benefits: - Enhanced data security and integrity - Improved transparency and trust in transactions - Efficient and reliable record-keeping on a blockchain
Commercial Applications: - Data management and security solutions for businesses - Financial transactions and record-keeping systems - Supply chain management and tracking applications
Prior Art: Prior research may include studies on blockchain data embedding techniques and data chain protocols.
Frequently Updated Research: Stay updated on advancements in blockchain technology, data security, and transaction protocols.
Questions about the technology: 1. How does the multi-level data chain protocol enhance data security on a core blockchain? 2. What are the potential implications of embedding a data chain using this method for various industries?
Original Abstract Submitted
a computer-implemented method of using a multi-level (ml) data chain protocol to embed a data chain on a core blockchain, comprising: obtaining one or more ml transactions, wherein each ml transaction comprises one or more carrier pairs, each carrier pair comprising an input and an output, wherein each output comprises data associated with the data chain, and wherein each input comprises a signature that signs the carrier pair; generating a first ml block of the ml data chain, wherein the first ml block is a core blockchain transaction and comprises the respective carrier pairs of the obtained one or more ml transactions, wherein for each carrier pair, a respective position index of the respective input corresponds to a respective position index of the respective output, and b) a first chain output, wherein the first chain output is for being spent by a respective chain input of a subsequent ml block.
