HUAWEI TECHNOLOGIES CO., LTD. (20240223390). BLOCKCHAIN SYSTEM simplified abstract
Contents
- 1 BLOCKCHAIN SYSTEM
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 BLOCKCHAIN SYSTEM - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Key Features and Innovation
- 1.6 Potential Applications
- 1.7 Problems Solved
- 1.8 Benefits
- 1.9 Commercial Applications
- 1.10 Questions about Blockchain Technology
- 1.11 Original Abstract Submitted
BLOCKCHAIN SYSTEM
Organization Name
Inventor(s)
BLOCKCHAIN SYSTEM - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240223390 titled 'BLOCKCHAIN SYSTEM
Simplified Explanation
The method described in the patent application involves sending private key signatures between two blockchain networks to verify and record information securely.
- The method involves sending private key signatures between two blockchain networks.
- The private key signatures are used to verify and record information securely.
- The process ensures that the information is successfully transmitted and recorded on the blockchain networks.
Key Features and Innovation
- Secure transmission of information between blockchain networks using private key signatures.
- Verification process ensures the authenticity of the information.
- Recording of verified information on the blockchain networks for transparency and security.
Potential Applications
The technology can be applied in various industries such as finance, healthcare, supply chain management, and legal sectors for secure data transmission and verification.
Problems Solved
- Ensures secure transmission of information between blockchain networks.
- Provides a reliable method for verifying the authenticity of data.
- Enhances transparency and security in data recording processes.
Benefits
- Improved data security and integrity.
- Enhanced trust in information exchange between blockchain networks.
- Streamlined verification process for data transactions.
Commercial Applications
The technology can be utilized in financial transactions, medical records management, supply chain tracking, and legal document verification to ensure secure and transparent data exchange.
Questions about Blockchain Technology
How does blockchain technology ensure data security?
Blockchain technology ensures data security through its decentralized and immutable nature, making it difficult for unauthorized parties to alter or tamper with information.
What are the potential risks associated with blockchain technology?
Potential risks associated with blockchain technology include scalability issues, regulatory challenges, and the possibility of smart contract vulnerabilities.
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.
