US 12,614,171 B2Granted

Method and system for cancellation of distributed ledger transactions

AssigneeMastercard International Incorporated

InventorsChandan Garg, Shubham Kumar, Puneet Keshtwal

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Abstract

The present disclosure provides a description of exemplary systems and methods for superseding pending transactions in a distributed ledger. The methods and systems may include a processor which may receive a first transaction associated with a digital asset in a memory pool of a distributed ledger network, the first transaction having a first priority. The processor may receive a second transaction associated with the digital asset in the memory pool of the distributed ledger network, the second transaction having a second priority. The processor may analyze the first priority of the first transaction and the second priority of the second transaction to determine a higher priority. In response to determining that the first priority of the first transaction is less than the second priority of the second transaction, the processor may validate the second transaction having the second priority.

Claims12

Dependent claims

A method for superseding a pending transaction in a blockchain, the method comprising:

initiating by a first computing node, a first transaction with a second computing node for a digital asset in a memory pool of a blockchain network, the first transaction being associated with a first counter input indicating a first priority of the first transaction;
in response to the first computing node initiating the first transaction with the second computing node, receiving, by a computing device of the blockchain network, from the first computing node, the first transaction associated with the digital asset, said computing device being a miner node of the blockchain network;
initiating, by the first computing node, a second transaction with a computing node different from the second computing node for the digital asset in the memory pool of the blockchain network, the second transaction being associated with a second counter input indicating a second priority of the second transaction;
in response to the first computing node initiating the second transaction with the computing node different from the second computing node, receiving, by the computing device, from the first computing node, the second transaction associated with the digital asset;
analyzing, by the computing device, the first priority of the first transaction and the second priority of the second transaction to determine a higher priority;
determining, by the computing device that the first priority of the first transaction is less than the second priority of the second transaction;
in response to determining that the first priority of the first transaction is less than the second priority of the second transaction, prioritizing, by the computing device, the second transaction having the second priority over the first transaction having the first priority;
and
validating, by the computing device, the second transaction having the second priority.

6 more elements

A system for superseding a pending transaction in a blockchain, the system comprising:

a blockchain network;
a first computing node;
a second computing node;
and
a computing device of the blockchain network, said computing device being a miner node of the blockchain network, wherein
the first computing node is configured to initiate a first transaction with a second computing node for a digital asset in a memory pool of a blockchain network, the first transaction being associated with a first counter input indicating a first priority of the first transaction;
the computing device, of the blockchain network, in response to the first computing node initiating the first transaction with the second computing node, is configured to receive, from the first computing node, the first transaction associated with the digital asset,
the first computing node is further configured to initiate a second transaction with a computing node different from the second computing node for the digital asset in the memory pool of the blockchain network, the second transaction associated with a second counter input indicating a second priority of the second transaction,
in response to the first computing node initiating the second transaction with the computing node different from the second computing node, the computing device is configured to
receive from the first computing node, the second transaction associated with the digital asset,
analyze the first priority of the first transaction and the second priority of the second transaction to determine a higher priority,
determine that the first priority of the first transaction is less than the second priority of the second transaction, and
the second transaction having the second priority.

10 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/506,808Filed 21 Oct 2021
Published: US 2023/0128004 A127 Apr 2023
Granted: 28 Apr 2026
Term ends: Not estimatedThe source records don’t support an estimate.

Classification6 codes

G06Q 20/3829
Insuring higher security of transaction: involving key management
G06Q 20/065
Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme: using e-cash
H04L 9/50
Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols: using hash chains, e.g.…
G06Q 2220/00
Business processing using cryptography