Cryptographic Logic Self-Executing Blockchain Export Submission

Cryptographic Logic Self-Executing Blockchain Export Submission

Question

What is Distributed Ledger Technology (DLT)?

What is the DLT interoperability problem that this invention solves?

How is token data locked in transit between DLT networks?

What is the purpose of a pre-submission authorization?

What is typically included in a pre-submission confirmation?

What is the role of the submission key?

Why might the receiving DLT need to recreate token data?

How does a smart contract factory facilitate DLT interoperability?

How do participants in a DLT network verify information exchanged between DLT networks?

What are other challenges to secure information exchange between DLT networks beyond those discussed here?

Answer

Distributed Ledger Technology (DLT) is a system for sharing, replicating, and synchronizing data between multiple nodes in a computer network. Blockchain is a form of DLT.

This invention solves the challenges of sharing, synchronizing, and transmitting information across different DLT networks, which may have different protocols, technologies, and design considerations.

Token data is locked by adding a data block to the provider blockchain indicating that the token data has been locked, thereby preventing further modification or transfer until predefined conditions are met.

Pre-commit authorization authorizes the export of token data stored on the provider blockchain to the recipient blockchain, ensuring that the data provider consents to the export.

Pre-commit confirmation typically includes verification that the data recipient has successfully received and/or generated the token data, ensuring that the recipient is ready for submission.

The submission key decrypts the pre-commit authorization, allowing the data recipient to execute the submission logic and submit the token data to the recipient blockchain.

The receiving DLT may need to recreate the token data to conform to its specific protocol, data structure, and validation rules to ensure compatibility with the receiving blockchain.

Smart Contract Factory facilitates DLT interoperability by generating customized interoperability smart contracts based on the specific DLT involved, thereby simplifying seamless interaction across different blockchain networks.

Participants in DLT networks verify the information exchanged between DLT networks through cryptographic mechanisms such as digital signatures, ensuring the authenticity and integrity of the information.

In addition to what is discussed here, other challenges for secure information exchange between DLT networks include maintaining data consistency between heterogeneous networks, ensuring privacy and confidentiality, and establishing governance and trust frameworks across different DLT platforms.

Paper Questions

Detail the steps taken by data providers and data receivers to ensure secure and synchronized export of token data between DLT networks.

Interoperability How important are smart contracts in enabling interoperability between different DLT networks? Discuss their role in managing the token data export process.

Compare and contrast the role of cryptographic logic commit and cryptographic logic lock instructions in facilitating the transfer of token data between DLT networks.

Analyze the role of smart contract factories in enabling interoperability between different DLT networks. Discuss how it can help overcome challenges associated with different DLT protocols and technologies.

Discuss the potential real-world applications of the invention, provide specific use cases, and illustrate how DLT interoperability can revolutionize various industries.

Glossary

Term Definitions Blockchain A growing list of records, called blocks, maintained by multiple nodes in a network that are cryptographically linked and secured with timestamps. Distributed Ledger Technology (DLT)A decentralized database system that allows data to be shared, replicated, and synchronized between multiple participants or computers. Data ProviderAn entity that owns and intends to share or export token data with an external entity (data recipient). Data RecipientAn entity that receives token data from a data provider. Token dataAsset data that is stored on a blockchain and represents some value or asset, such as a cryptocurrency, digital asset, or other type of tokenized information. Interoperability Smart ContractA smart contract that facilitates interaction and data exchange between different DLT networks. Cryptographic Logic CommitA set of logic and instructions within an interoperability smart contract that facilitates the submission of token data to a recipient’s blockchain. Pre-Submission AuthorizationA authorization provided by a data provider to authorize the export of token data to a recipient’s blockchain. Commitment KeyA key provided by a data provider that is used to decrypt the pre-submission authorization and allow the data recipient to execute the submission. Cryptographic Logic Locking InstructionsA set of logic and instructions within an interoperability smart contract that facilitates the locking of token data on a provider’s blockchain. Pre-Lock AuthorizationA authorization provided by a data recipient that allows the locking of token data on a provider’s blockchain. Locking Key A key provided by the data receiver that is used to decrypt the pre-locking authorization and allow the data provider to execute the locking mechanism. Delivery Logic A set of logic and instructions within an interoperability smart contract that defines the rules and procedures used by the data receiver to recreate and/or verify the token data to be compatible with the receiver's DLT. Synchronization Logic Manages the rules, standards, and instructions for coordinating and synchronizing information exchanges between the data provider and the data receiver. Smart Contract Factory A system or platform that generates interoperability smart contracts with customized logic, parameters, and functionality that conform to a specific DLT or multiple DLTs. DLT Repository A collection of logic, rules, standards, and parameters associated with different DLT networks that are used to generate DLT-specific interoperability smart contracts. Interoperability Smart Contract (ESC) Generator A component or module that generates customized interoperability smart contracts using information from a DLT repository.