NChain Licensing AG (20240250808). DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS simplified abstract
Contents
- 1 DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS - 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 Prior Art
- 1.11 Frequently Updated Research
- 1.12 Questions about the Technology
- 1.13 Original Abstract Submitted
DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS
Organization Name
Inventor(s)
Craig Steven Wright of London (GB)
Stephane Savanah of London (GB)
DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240250808 titled 'DETERMINING A COMMON SECRET FOR THE SECURE EXCHANGE OF INFORMATION AND HIERARCHICAL, DETERMINISTIC CRYPTOGRAPHIC KEYS
Simplified Explanation
The patent application describes a method and system for determining a common secret between two nodes using asymmetric cryptography.
- Each node has a master private key and a master public key.
- Second private and public keys can be derived from the master keys and a deterministic key.
- A common secret can be calculated at each node based on the second private and public keys.
Key Features and Innovation
- Utilizes asymmetric cryptography for secure communication between nodes.
- Derives second private and public keys from master keys and a deterministic key.
- Enables the calculation of a common secret for secure data exchange.
Potential Applications
The technology can be applied in digital wallets, blockchain technologies (e.g. bitcoin), and personal device security.
Problems Solved
- Secure communication between nodes.
- Establishment of a common secret for encrypted data exchange.
- Enhanced security for digital transactions.
Benefits
- Improved data security and privacy.
- Secure communication between nodes.
- Protection against unauthorized access to sensitive information.
Commercial Applications
- Secure messaging platforms
- Cryptocurrency exchanges
- Secure data transfer systems
Prior Art
There may be prior art related to asymmetric cryptography, secure communication protocols, and key exchange mechanisms that could be relevant to this technology.
Frequently Updated Research
Stay updated on advancements in asymmetric cryptography, blockchain technologies, and secure communication protocols for potential improvements or new applications.
Questions about the Technology
How does the method ensure the security of the common secret between nodes?
The method utilizes asymmetric cryptography and derived keys to establish a secure common secret for encrypted data exchange.
What are the potential limitations of using this method in real-world applications?
The potential limitations could include computational overhead for key derivation and the need for secure storage of master keys and deterministic keys.
Original Abstract Submitted
a method () and system () of determining a common secret for two nodes (). each node () has a respective asymmetric cryptography pair, each pair including a master private key and a master public key. respective second private and public keys may be determined based on the master private key, master public key and a deterministic key. a common secret may be determined at each of the nodes based on the second private and public keys. in one example, a node () may determine the common secret based on (i) a second private key based on the node's own master private key and the deterministic key; and (ii) a second public key based on the other node's master public key and the deterministic key. the invention may be suited for use with, but not limited to, digital wallets, blockchain (e.g. bitcoin) technologies and personal device security.
