NChain Licensing AG (20240243918). KNOWLEDGE PROOF simplified abstract
Contents
KNOWLEDGE PROOF
Organization Name
Inventor(s)
Craig Steven Wright of London (GB)
KNOWLEDGE PROOF - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240243918 titled 'KNOWLEDGE PROOF
Simplified Explanation: The patent application describes a method for recording transactions on a blockchain using an elliptic curve digital signature algorithm (ECDSA). Participants provide signature components based on their ephemeral keyshares, and the blockchain network verifies the signatures to ensure the authenticity of the transactions.
- Key Features and Innovation:
- Use of ECDSA for digital signatures on a blockchain. - Participants provide signature components based on ephemeral keyshares. - Verification of signatures by the blockchain network.
Potential Applications: This technology can be applied in various industries such as finance, supply chain management, healthcare, and more where secure and tamper-proof transactions are essential.
Problems Solved: - Ensures the authenticity and integrity of transactions on a blockchain. - Provides a secure method for recording transactions with digital signatures. - Prevents unauthorized access and tampering of transaction data.
Benefits: - Enhanced security and trust in blockchain transactions. - Efficient verification process for transactions. - Protection against fraud and unauthorized modifications.
Commercial Applications: The technology can be utilized in financial institutions, e-commerce platforms, legal services, and any industry that requires secure and transparent transaction records.
Questions about Blockchain Transactions: 1. How does the ECDSA algorithm enhance the security of blockchain transactions? 2. What are the potential risks associated with using ephemeral keyshares in transaction verification?
Frequently Updated Research: Stay updated on the latest advancements in blockchain technology, digital signatures, and secure transaction methods to ensure the continued relevance and effectiveness of this innovation.
Original Abstract Submitted
at least one proof transaction for recording on a blockchain comprises at least an s-part for an elliptic curve digital signature algorithm, ecdsa, signature. the s-part is computed from a set of signature components, each provided by a participant of a signing subset of a set of keyshare participants. each of keyshare participant holds an ephemeral keyshare of an unknown ephemeral key, and each of the signing components is provided by the participant of the signing subset based on their ephemeral keyshare. the at least one proof transaction indicates an r-challenge of at least one challenge transaction, and a node of a blockchain network applies signature verification to: (i) the s-part of the at least one proof transaction, and (ii) one of: (iia) an r-part of the r-challenge, (iib) an r-part of the at least one proof transaction, and in that event checks that that r-part satisfies the r-challenge.
