NChain Licensing AG (20240291805). SECURITY-ENHANCED ORIGINATION OF BLOCKCHAIN TRANSACTIONS simplified abstract
Contents
SECURITY-ENHANCED ORIGINATION OF BLOCKCHAIN TRANSACTIONS
Organization Name
Inventor(s)
Silvia Bartolucci of London (GB)
SECURITY-ENHANCED ORIGINATION OF BLOCKCHAIN TRANSACTIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240291805 titled 'SECURITY-ENHANCED ORIGINATION OF BLOCKCHAIN TRANSACTIONS
The abstract describes a method for broadcasting a blockchain-implemented transaction from an originator node to proxy nodes, involving the allocation of computing resources and the generation of further transactions.
- The method involves receiving a transaction with inputs and outputs, selecting computing resources to allocate for broadcasting the transaction, and generating additional transactions sourced from a multi-signature address.
- The proxy node broadcasts both the original transaction and the further transaction to ensure their inclusion in the same block of the blockchain.
Potential Applications: - Secure and efficient transaction broadcasting in blockchain networks. - Multi-signature address management for enhanced security. - Resource allocation optimization for blockchain transactions.
Problems Solved: - Ensuring timely inclusion of transactions in the blockchain. - Secure management of multi-signature addresses. - Efficient allocation of computing resources for transaction broadcasting.
Benefits: - Increased security through multi-signature address usage. - Improved efficiency in blockchain transaction broadcasting. - Enhanced reliability of transaction inclusion in the blockchain.
Commercial Applications: Title: "Efficient Blockchain Transaction Broadcasting Method" This technology could be utilized in financial transactions, supply chain management, and digital asset exchanges to ensure secure and efficient blockchain operations.
Questions about the Efficient Blockchain Transaction Broadcasting Method: 1. How does the method optimize resource allocation for broadcasting blockchain transactions? 2. What are the benefits of using a multi-signature address in the transaction process?
Original Abstract Submitted
a blockchain-implemented transaction from an originator node is to be broadcast. the originator node is communicatively coupled to proxy nodes. the method, implemented by a proxy node, includes: receiving a transaction including an input taking x+r units of computing resources, an output providing x units to the output address and another output providing d+r units to a 1-of-n multi-signature address unlockable by any one of a set of private keys associated the proxy nodes. the proxy node selects a quantity of computing resources, t units, to be allocated to the proxy node for broadcasting the transaction and having it included in the blockchain and generates a further transaction taking d+r units sourced from the multi-signature address and an output providing t units to the proxy node. the proxy node broadcasts both transactions timed to permit their inclusion in the same block of the blockchain.
