NChain Licensing AG (20240232863). WALLET APPLICATION INSTANTIATION, KEYS DERIVATION FOR SIGNING BLOCKCHAIN TRANSACTIONS USING A PUF DEVICE simplified abstract
WALLET APPLICATION INSTANTIATION, KEYS DERIVATION FOR SIGNING BLOCKCHAIN TRANSACTIONS USING A PUF DEVICE
Organization Name
Inventor(s)
Craig Steven Wright of London (GB)
Jack Owen Davies of London (GB)
WALLET APPLICATION INSTANTIATION, KEYS DERIVATION FOR SIGNING BLOCKCHAIN TRANSACTIONS USING A PUF DEVICE - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240232863 titled 'WALLET APPLICATION INSTANTIATION, KEYS DERIVATION FOR SIGNING BLOCKCHAIN TRANSACTIONS USING A PUF DEVICE
Simplified Explanation: The patent application describes a system where a challenge is input to a physically unclonable function (PUF) device, which generates a response. A wallet application uses a seed determined from this response to derive child keys for signing blockchain transactions.
Key Features and Innovation:
- Use of a PUF device to generate unique responses to challenges.
- Instantiation of a wallet application using a seed derived from the PUF response.
- Verification of user's right to use the seed based on a stored transform.
- Derivation of child keys from the seed for signing blockchain transactions.
Potential Applications: This technology can be applied in secure authentication systems, digital signatures, and blockchain transactions.
Problems Solved: This technology addresses the issues of secure key generation, authentication, and transaction signing in a decentralized environment.
Benefits:
- Enhanced security due to unique PUF responses.
- Simplified and secure key management for blockchain transactions.
- Efficient and reliable authentication process.
Commercial Applications: Title: Secure Blockchain Transaction Signing System This technology can be utilized by blockchain companies, financial institutions, and digital asset platforms to ensure secure and reliable transaction signing processes.
Prior Art: Readers can explore prior research on physically unclonable functions, blockchain security, and secure key management systems.
Frequently Updated Research: Researchers are constantly exploring advancements in PUF technology, blockchain security, and cryptographic key management systems.
Questions about Secure Blockchain Transaction Signing System: 1. How does the use of a PUF device enhance the security of key generation in this system? 2. What are the potential challenges in implementing this technology in real-world blockchain applications?
Original Abstract Submitted
a challenge is input to a puf device comprising a physically unclonable function, puf. the device generates a corresponding response. a wallet application is instantiated to use a seed determined from the response, the instantiating comprising storing a transform of the seed or response in association with the wallet application. at a later time, a user supplies the wallet application with information demonstrating a right to use the seed, wherein the wallet application is configured so as in response to verify this information based on the transform as stored in association with the wallet application, and on condition that the information is thereby verified, to derive at least one child key from the seed. a blockchain transaction is then signed using the child key as derived by the wallet application in response to the verification.
