NChain Licensing AG (20240303645). MULTI-INPUT TRANSACTIONS simplified abstract
Contents
MULTI-INPUT TRANSACTIONS
Organization Name
Inventor(s)
MULTI-INPUT TRANSACTIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240303645 titled 'MULTI-INPUT TRANSACTIONS
Simplified Explanation:
The patent application describes a system where a server offers media content to users through transactions. These transactions involve transferring digital assets to a second party. Once a target is reached, the transactions are recorded in a blockchain, allowing users to access the media content.
Key Features and Innovation:
- Server provides media content to users through transactions.
- Digital assets are transferred to a second party.
- Transactions are recorded in a blockchain once a target is reached.
- Users can access the media content through the blockchain.
Potential Applications: This technology could be used in digital media distribution platforms, online content sharing services, and secure digital asset transfers.
Problems Solved: This technology addresses the secure transfer of digital assets, tracking transactions in a transparent and immutable way, and enabling users to access media content securely.
Benefits:
- Secure transfer of digital assets.
- Transparent and immutable tracking of transactions.
- Secure access to media content for users.
Commercial Applications: Potential commercial applications include digital media platforms, online content sharing services, and secure digital asset transfer services. This technology could revolutionize the way media content is distributed and accessed online.
Prior Art: Readers can start searching for prior art related to this technology in the field of blockchain technology, digital asset transfers, and media content distribution platforms.
Frequently Updated Research: Stay updated on the latest developments in blockchain technology, digital asset transfers, and media content distribution platforms to understand the evolving landscape of this technology.
Questions about Media Content Distribution Technology: 1. How does this technology ensure the secure transfer of digital assets? 2. What are the potential commercial applications of this technology in the media industry?
Original Abstract Submitted
a server of media content makes a first transaction available to users that includes a first output specifying an amount of a digital asset to transfer to a second party, and a total of zero or more inputs wherein a total input amount of the digital asset specified in any outputs of any source transactions pointed to by the zero or more inputs is less than a total output amount of the digital asset specified by the one or more outputs. inputs are received from users of a side channel. once a target is reached, the first transaction and a second transaction are recorded in a blockchain, wherein the second transaction comprises an input pointing to the first output of the first transaction and an unlocking script meeting a condition that requires the unlocking script to include a media key enabling the users to access the item of media content.
