Back to results
US 2020/0028697 A1Published application
System and method for off-chain cryptographic transaction verification
OwnerMatthew Unger, Matej Masiar +1inventors
InventorsMatthew Unger, Matej Masiar, Qayyum Rajan
Life of this patent
Estimating the term…
Abstract
A system and method for determining transaction compliance in an off-chain environment to offload computationally-intensive compliance processes for cryptographical transactions. Systems and methods for providing consistency across multiple blockchains by not relying on the limitations of any given protocol to guarantee a cost of executing a transaction be kept to a minimum and keep an on-chain overhead minimal.
Claims1
A system for off-chain verification of cryptographic transactions in a blockchain environment comprising:
- an off-chain verification computer comprising a memory, at least one processor and a plurality of programming instructions, the programming instructions when executed by the at least one processor cause the at least one processor to:
- receive a first transaction from a first blockchain;
- receive a notification of an analysis, by an on-chain microservice, of a whitelist status for the first transaction;
- perform, by a transaction processor, a first off-chain check on the transaction to determine validity;
- if the first check fails, determine if a second off-chain check is required;
- if so, perform the second check
- if the second check fails, determine if a supervised check is required;
- if so, send transaction parameters to a supervisor user device;
- if an approval is received, the transaction process submit transaction details to the first blockchain.
6 more elements
Dependencies are inferred from the claim text.