US-12627517-B2 - Systems and methods for performing secure transactions on blockchain

US12627517B2US 12627517 B2US12627517 B2US 12627517B2US-12627517-B2

Abstract

Systems and methods for securing transactions in accordance with various embodiments of the invention are illustrated. One embodiment includes a method for confirming token ownership rights. The method generates a pre-image value using a random number generator. The method generates an action request that corresponds to an action performed cryptographic token(s). The method derives a commit output based on the pre-image value. The method generates a commit request that obfuscates the action request based on the commit output and submits the commit request to an immutable ledger. The method receives a confirmation when the commit request is approved by the ledger. When a reveal request referencing the commit output is published, the method receives a confirmation of at least one of: the reveal request being published, that the reveal request comprises a reference to the commit output, or that the action request has been approved.

Inventors

Keir Finlow-Bates
Bjorn Markus Jakobsson

Assignees

Artema Labs, Inc

Dates

Publication Date: 20260512
Application Date: 20250127

Claims (20)

1 . A method for confirming token ownership rights, the method comprising: generating, using a processor, a pre-image value, wherein the pre-image value is generated using a random number generator; generating, using the processor, an action request, wherein the action request corresponds to an action performed for a set of at least one particular cryptographic token; deriving, using the processor, a commit output, wherein the commit output: is derived based, at least in part, on the pre-image value; and references at least one condition for the action; generating, using the processor, a commit request, wherein the commit request obfuscates the action request based on the commit output; submitting, using the processor, the commit request to a particular immutable ledger; receiving a first confirmation when the commit request is approved by the particular immutable ledger; and after a reveal request referencing the commit output is published, receiving, based on the reveal request, a second confirmation that the action request has been approved, wherein the reveal request referencing the commit output is published following a verification that: the set of at least one particular cryptographic token is in possession of a generating party for the commit output; the at least one condition for the action occurred; and the reveal request comprises a reference to the commit output.
2 . The method of claim 1 , wherein: the action request comprises a transfer request, transferring the set of at least one particular cryptographic token to a receiving address; and the particular immutable ledger is a blockchain.
3 . The method of claim 2 , wherein the reveal request is submitted to the particular immutable ledger by the receiving address.
4 . The method of claim 1 , wherein deriving the commit output comprises applying at least one one-way function to the pre-image value and at least one message comprising an action-associated value.
5 . The method of claim 4 , wherein a first function of the at least one one-way function is a cryptographic hash function.
6 . The method of claim 5 , wherein the action-associated value included in a first message of the at least one message comprises at least one of: an account identifier for each of one or more parties to the action; a token type value, where the token type value numerically identifies a token type for the set of at least one particular cryptographic token; or an address value, where the address value corresponds to a blockchain address.
7 . The method of claim 4 , wherein the second confirmation depends on whether applying the at least one one-way function to the commit output and the action-associated value referenced in the reveal request produces the same result as applying the at least one one-way function to the commit output and the action-associated value referenced in the commit request.
8 . The method of claim 1 , wherein: the reveal request is submitted to a second immutable ledger; and a node, monitoring both the particular immutable ledger and the second immutable ledger, determines whether the reveal request comprises the reference to the commit output.
9 . The method of claim 8 , wherein the action request corresponding to the commit request is approved by the second immutable ledger.
10 . The method of claim 1 , wherein the commit request corresponds to at least one additional request for a set of at least one additional cryptographic token.
11 . The method of claim 1 , wherein the commit output further references at least two addresses representing potential participants to the action.
12 . The method of claim 11 , wherein the generating party is identified by one of the at least two addresses representing potential participants to the action.
13 . The method of claim 11 , wherein a fraction of the at least one particular cryptographic token is: exchanged in the transfer; and identified in the reveal request.
14 . The method of claim 1 , wherein the generating party is selected at least in part based on the at least one condition referenced in the commit output.
15 . The method of claim 1 , wherein: the action is a transfer corresponding to the set of at least one particular cryptographic token; and at least some of the set of at least one particular cryptographic token comprises digital currency.
16 . The method of claim 1 wherein the random number generator is a pseudo-random generator.
17 . A non-transitory computer-readable medium comprising instructions that, when executed, are configured to cause a processor to perform a process for confirming token ownership rights, the process comprising: generating a pre-image value, wherein the pre-image value is generated using a random number generator; generating an action request, wherein the action request corresponds to an action performed for a set of at least one particular cryptographic token; deriving, using the processor, a commit output, wherein the commit output: is derived based, at least in part, on the pre-image value; and references at least one condition for the action; generating a commit request, wherein the commit request obfuscates the action request based on the commit output; submitting the commit request to a particular immutable ledger; receiving a first confirmation when the commit request is approved by the particular immutable ledger; and after a reveal request referencing the commit output is published, receiving, based on the reveal request, a second confirmation that the action request has been approved, wherein the reveal request referencing the commit output is associated with a verification that: the set of at least one particular cryptographic token is in possession of a generating party for the commit output; the at least one condition for the action occurred; and the reveal request comprises a reference to the commit output.
18 . The non-transitory computer-readable medium of claim 17 , wherein: the action request comprises a transfer request, transferring the set of at least one particular cryptographic token to a receiving address; and the particular immutable ledger is a blockchain.
19 . The non-transitory computer-readable medium of claim 18 , wherein the reveal request is submitted to the particular immutable ledger by the receiving address.
20 . The non-transitory computer-readable medium of claim 17 , wherein deriving the commit output comprises applying at least one one-way function to the pre-image value and at least one message comprising an action-associated value.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS The current application claims the benefit of and priority under 35 U.S.C. § 119(e) to U.S. Provisional Patent Application No. 63/660,984, entitled “Improved Token and Resource Management,” filed Jun. 17, 2024; U.S. Provisional Patent Application No. 63/671,588, entitled “KYC-Enhanced Blockchain Technology with Applications to Advertising and Security,” filed Jul. 15, 2024; U.S. Provisional Patent Application No. 63/683,175, entitled “System, Method and Apparatus for Publicly Verifiable Asset Linkage,” filed Aug. 14, 2024; and U.S. Provisional Patent Application No. 63/687,205, entitled “Secure and Efficient Quantum-Resistant Digital Signing Method for Blockchains,” filed Aug. 26, 2024, the disclosures of which are hereby incorporated by reference in their entireties for all purposes. FIELD OF THE INVENTION The present invention generally relates to Web 3.0-based immutable ledgers, particularly in the context of transaction implementation. BACKGROUND Cryptography can be used to provide security, privacy and authenticity to transactions and can be used to create immutable ledgers such as (but not limited to) blockchains. Web 3.0 (or Web3) refers to a large-scale restructuring of the World Wide Web that includes open-source applications maintained by blockchain and operating in a way that is decentralized yet interconnected. The term contrasts Web 1.0 (the earliest version of the internet where individuals could create web pages digested by wide varieties of consumers) and Web 2.0 (which expanded capabilities towards user-generated content and user-participation). Blockchain technology is implemented on Web 3.0 in a manner which instantiates digital assets with clearly defined ownership. The blockchain functions as a ledger recording ownership that restricts the movement of digital assets from one party to another based on identity and access management encoded in the blockchain. As such, blockchains (and software running on those blockchains in the form of smart contracts) can address and process digital assets as held commodities. Blockchain and smart contracts thereby facilitate transactions between parties, with the blockchain itself acting as a distributed ledger providing a public record. Under web3 systems, digital assets in the form of tokens (instantiated through smart contracts) are registered against one or more owners on blockchains. Such tokens may be registered on the blockchains against blockchain addresses by relying on asymmetric key cryptography, thus indicating ownership of the digital assets by entities with private keys. In a traditional blockchain-based transaction, a transferor receives a public key from a transferee and generates a digital signature on a message that includes the received public key. This enables the holder of the associated private key, namely the transferee, to use the generated digital signature and the private key associated with the signed public key to make additional transferors according to the same technique as the transferor used. SUMMARY OF THE INVENTION Systems and methods for securing transactions in accordance with various embodiments of the invention are illustrated. One embodiment includes a method for confirming token ownership rights. The method generates, using a processor, a pre-image value, wherein the pre-image value is generated using a random number generator. The method generates, using the processor, an action request, wherein the action request corresponds to an action performed for a set of at least one particular cryptographic token. The method derives, using the processor, a commit output based, at least in part, on the pre-image value. The method generates, using the processor, a commit request, wherein the commit request obfuscates the action request based on the commit output. The method submits, using the processor, the commit request to a particular immutable ledger. The method receives a confirmation when the commit request is approved by the particular immutable ledger. When a reveal request referencing the commit output is published, the method receives, based on the reveal request, a confirmation of at least one of: the reveal request being published, that the reveal request comprises a reference to the commit output, or that the action request has been approved. In a further embodiment, the action request comprises a transfer request, transferring the set of at least one particular cryptographic token to a receiving address. Further, the particular immutable ledger is a blockchain. In a still further embodiment, the reveal request is submitted to the particular immutable ledger by the receiving address. In another embodiment, deriving the commit output comprises applying a one-way function to the pre-image value. In a further embodiment, the one-way function is a cryptographic hash function. In a still further embodiment, the cryptographic hash function hashes the pre-image value with a mes