Invention Grant
- Patent Title: Method for secure peer-to-peer communication on a blockchain
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Application No.: US16092737Application Date: 2017-04-10
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Publication No.: US11455630B2Publication Date: 2022-09-27
- Inventor: Craig Steven Wright , Stephane Savanah
- Applicant: nChain Holdings Limited
- Applicant Address: AG St. John's
- Assignee: nChain Holdings Limited
- Current Assignee: nChain Holdings Limited
- Current Assignee Address: AG St. John's
- Agency: Davis Wright Tremaine LLP
- Priority: GB1606067 20160411
- International Application: PCT/IB2017/052062 WO 20170410
- International Announcement: WO2017/178956 WO 20171019
- Main IPC: G06Q20/40
- IPC: G06Q20/40 ; G06Q20/06 ; G06Q40/02 ; G06F21/64 ; H04L9/32 ; G06Q20/36 ; H04L9/06 ; H04L9/00

Abstract:
The invention comprises a computer-implemented method and system for controlling an exchange process, such as a loan, conducted between at least two parties via a blockchain such as the Bitcoin blockchain. A method according to the invention may comprise the step of generating a first blockchain transaction which includes a redeem script. The redeem script comprises a cryptographic public key associated with an initiating party and metadata which includes a hash of an exchange-related document; a redeem address; and an amount of digital currency. A second blockchain transaction is generated and published to the blockchain so as to spend the digital currency to the redeem address. This provides the advantage that the further transaction will be publically available and thus detectable by other parties once it has been published. The further transaction can provide the information necessary to trigger a response e.g. an offer from another (responding) party who publishes their response on the blockchain. Thus, the exchange process can be implemented via a multi-transaction mechanism on the blockchain rather than an alternative medium. The exchange related document may be an invitation (offer/request) which is stored off-block in a repository such as a Distributed Hash Table (DHT). The invitation may be an invitation to engage in a contract. A smart contract (and associated blockchain transaction) may be formed upon condition that a plurality of participants (e.g. lenders/borrowers) are matched with each other via one or more responses effected via transactions on the blockchain.
Public/Granted literature
- US20190130399A1 A METHOD FOR SECURE PEER-TO-PEER COMMUNICATION ON A BLOCKCHAIN Public/Granted day:2019-05-02
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