18148771. AUTHENTICATING BLOCKCHAIN ADDRESSES simplified abstract (eBay Inc.)
Contents
AUTHENTICATING BLOCKCHAIN ADDRESSES
Organization Name
Inventor(s)
Ethan Benjamin Rubinson of San Jose CA (US)
Andrew Chalkley of Milwaukie OR (US)
AUTHENTICATING BLOCKCHAIN ADDRESSES - A simplified explanation of the abstract
This abstract first appeared for US patent application 18148771 titled 'AUTHENTICATING BLOCKCHAIN ADDRESSES
- Simplified Explanation:**
The patent application describes a method for verifying the authenticity of an identity in relation to a blockchain address by generating a verification index.
- Key Features and Innovation:**
- Verification index generated by confirming identity controls transaction of blockchain address.
- Message encrypted by identity using private key for verification.
- Mapping of identity to blockchain address in verification index.
- Querying verification index for authenticity indication.
- Potential Applications:**
This technology can be applied in various industries such as finance, healthcare, supply chain management, and digital identity verification.
- Problems Solved:**
This technology addresses the issue of verifying the authenticity of identities in relation to blockchain addresses, enhancing security and trust in transactions.
- Benefits:**
- Improved security in transactions.
- Enhanced trust in digital identities.
- Streamlined verification processes.
- Commercial Applications:**
The technology can be utilized in financial institutions, e-commerce platforms, government agencies, and social media platforms for secure identity verification and transaction authentication.
- Prior Art:**
Researchers can explore prior art related to blockchain authentication methods, digital identity verification, and encryption technologies.
- Frequently Updated Research:**
Stay informed about the latest advancements in blockchain authentication, digital identity verification, and encryption technologies to enhance the effectiveness of this innovation.
- Questions about Blockchain Identity Verification:**
1. How does this technology impact the security of digital transactions? 2. What are the potential implications of this innovation in the finance industry?
- Another relevant generic question:**
1. How does this technology contribute to the overall trustworthiness of digital identities and transactions?
Original Abstract Submitted
To determine the authenticity between an identity, such as a person, business, or social media handle, and a blockchain address, a verification index is generated. The verification index is generated by determining that the identity controls transaction of the blockchain address using a message encrypted by the identity using the private key. Once the authenticity between the identity and a blockchain address is verified, the identity is mapped to the blockchain address in the verification index. The verification index can be used provide an indication of the authenticity between the identity and the blockchain address by querying the verification index, such as in response to an API (application programming interface) call.
