US 2017/0366516 A1 · MANAGING VERIFIABLE, CRYPTOGRAPHICALLY STRONG TRANSACTIONS

Abstract

A central service provider manages verifiable and cryptographically strong transactions in a block chain network. For each transaction, the central service provider maintains and updates one or more directed graphs that describe the traceable positions of an asset held by parties of the block chain network. Therefore, transactions can be reconciled by tracing along the directed graphs. The central service provider also leverages crypto-hashing to enforce the immutability of each executed transaction. For example, each transaction is cryptographically hashed and written into a block in the block chain. Each transaction refers to a cryptographic hash of a prior transaction and each block refers to a cryptographic hash of a prior block. Therefore, the executed transactions are cryptographically strong in that if a single transaction is altered, then the entire block of transactions including the transaction is invalidated.

Claims20

Dependent claims

A method for generating traceable details of a transaction, the method comprising:

receiving a transaction request specifying transfer of a quantity of an asset held by a first party to a second party;
identifying a directed graph from a plurality of directed graphs that indicates a position of the asset held by the first party that is sufficient to effect the transfer of the asset;
updating the directed graph to represent the transfer of the asset from the first party to the second party;
generating a transaction record reflecting the transaction request, the transaction record comprising a directed graph identifier identifying the updated directed graph that represents the transfer of the asset;
incorporating the transaction record into a set of transaction records generated for received transactions for a time period;
and
generating a block of the set of transaction records for the time period, the block comprising a hash value of a block from a previous time period.

4 more elements

A non-transitory computer-readable medium comprising computer code that, when executed by a processor, causes the processor to:

receive a transaction request specifying transfer of a quantity of an asset held by a first party to a second party;
identify a directed graph from a plurality of directed graphs that indicates a position of the asset held by the first party that is sufficient to effect the transfer of the asset;
update the directed graph to represent the transfer of the asset from the first party to the second party;
generate a transaction record reflecting the transaction request, the transaction record comprising a directed graph identifier identifying the updated directed graph that represents the transfer of the asset;
incorporate the transaction record into a set of transaction records generated for received transactions for a time period;
and
generate a block of the set of transaction records for the time period, the block comprising a hash value of a block from a previous time period.

4 more elements

Dependencies are inferred from the claim text.

Managing verifiable, cryptographically strong transactions

Life of this patent

Managing verifiable, cryptographically strong transactions

Life of this patent

Abstract

Claims20