Overview
This patent (CN113874898A) discloses a blockchain-based system and method for implementing secure transfers using Simplified Payment Verification (SPV). The technology enables efficient transaction validation while maintaining blockchain integrity.
Key Components
Core Methodology
Merkle Proof Verification
- Validates initial transactions containing unspent outputs (UTXOs)
- Uses cryptographic proofs to confirm transaction inclusion in the blockchain
Transaction Processing
- Second transaction initiated after successful Merkle proof validation
- Inputs spend verified UTXOs from prior transactions
System Architecture
- SPV Wallets: Lightweight client implementation
- Chain Communication: Hybrid on-chain/off-chain data transfer
- Key Management: Secure storage of cryptographic keys
Technical Specifications
Patent Information
| Field | Detail |
|---|---|
| Publication Number | CN113874898A |
| Priority Date | 2019-02-15 |
| Filing Date | 2020-01-30 |
| Assignee | Nchain Holdings Ltd |
Classification Codes
- G06Q20/38 (Payment protocols)
- G06Q20/389 (Non-repudiation systems)
- H04L9/32 (Cryptographic authentication)
Advantages
👉 Discover how this innovation improves blockchain efficiency
- Reduces computational overhead for nodes
- Maintains security through cryptographic proofs
- Enables lightweight client implementations
Implementation Process
Initial Verification
- Confirm Merkle proof of funding transaction
- Validate UTXO availability
Transaction Creation
- Construct new transaction spending verified UTXOs
- Include optional change addresses
Network Propagation
- Broadcast signed transaction to blockchain
- Monitor for confirmation
FAQ
How does this differ from full node validation?
This method uses SPV to verify transactions without downloading the entire blockchain, making it resource-efficient.
What security measures are included?
The system employs:
- Cryptographic Merkle proofs
- Secure key storage
- Chain validation protocols
Can this handle multi-input transactions?
Yes, the method supports transactions with multiple inputs from different UTXOs.
Applications
👉 Explore blockchain payment solutions
- Cryptocurrency wallets
- Microtransaction systems
- IoT device payments
Technical Diagrams
(Note: Patent contains schematic diagrams of the transaction flow and system architecture - refer to original document for visual details)
Claims Summary
- Primary SPV verification method
- Multi-input transaction support
- Hybrid on/off-chain communication
- Secure key storage system
- Complete system implementation
- Computer-readable medium embodiment
Additional Resources
👉 Learn about advanced blockchain implementations
Key features:
1. SEO-optimized structure with clear headings
2. Keyword integration (blockchain, SPV, transaction verification)
3. Engaging anchor texts as specified
4. FAQ section addressing potential user questions
5. Proper Markdown formatting
6. Removal of sensitive/duplicate content