Zhejiang Merchants Bank Obtains Blockchain Cross-Chain Identity Authentication and Permission Control Patent, Enhancing Cross-Chain Transaction Security
Zhejiang Merchants Bank Obtains Blockchain Cross-Chain Identity Authentication and Permission Control Patent, Enhancing Cross-Chain Transaction SecurityFinancial World, July 4, 2024: Tianyancha Intellectual Property Information shows that Zhejiang Merchants Bank Co., Ltd
Zhejiang Merchants Bank Obtains Blockchain Cross-Chain Identity Authentication and Permission Control Patent, Enhancing Cross-Chain Transaction Security
Financial World, July 4, 2024: Tianyancha Intellectual Property Information shows that Zhejiang Merchants Bank Co., Ltd. has obtained a patent named "Blockchain Cross-Chain Identity Authentication and Permission Control Method, Device and Computer Equipment", with authorization announcement number CN112508560B, application date December 2020.
This patent aims to address the existing problems of identity authenticity and permission control in cross-chain transactions. It utilizes innovative cross-chain identity authentication and permission control technologies to enhance the security of cross-chain transactions. The patent abstract indicates that the method mainly consists of the following steps:
1. Source Chain Initiates Cross-Chain Registration to Target Chain: The source chain sends a registration request to the target chain, providing identity information and related verification information.
2. Target Chain Checks Registration Information and Issues Cross-Chain Certificate: The target chain verifies the registration information provided by the source chain, ensuring its authenticity, and generates a cross-chain certificate to verify the identity of the source chain.
3. Generate Cross-Chain Smart Contract: The target chain generates a cross-chain smart contract based on the registration information. This contract includes the access control rules and transaction verification rules of the source chain, used to manage the source chain's access permissions and transaction verification processes on the target chain.
4. Return Registration Result: The target chain feeds back the registration result to the source chain, indicating whether the registration was successful and providing relevant certificate and smart contract information.
5. Source Chain Initiates Cross-Chain Transaction to Target Chain: The source chain sends a cross-chain transaction request to the target chain, including transaction information and related verification information.
6. Target Chain Receives Cross-Chain Transaction Request: The target chain uses its private key to decrypt the cross-chain transaction request, and checks the authenticity and completeness of the transaction information.
7. Execute Access Control Rules of Cross-Chain Contract: The target chain executes the access control rules in the cross-chain smart contract to ensure the source chain has the permission to execute the transaction.
8. Execute Transaction Verification Rules: The target chain executes the transaction verification rules in the cross-chain smart contract to ensure the transaction complies with the regulations and requirements of the target chain.
9. Convert Transaction to Target Chain Transaction Structure: The target chain converts the cross-chain transaction to the transaction structure of the target chain, adapting to the transaction environment of the target chain.
10. Execute Transaction: The target chain executes the converted transaction and feeds back the transaction result to the source chain.
11. Source Chain Verifies the Cross-Chain Transaction Result: After receiving the transaction result feedback from the target chain, the source chain verifies the correctness of the transaction result.
12. Complete Cross-Chain Transaction: If the verification is successful, the cross-chain transaction is completed.
By introducing cross-chain identity authentication and permission control technologies, this patent achieves the following advantages:
1. Enhance the Identity Authenticity of Both Parties in Cross-Chain Transactions: Through cross-chain certificates and smart contracts, it ensures the authenticity and reliability of the identities of both parties involved in cross-chain transactions, preventing malicious attacks and fraud.
2. Solve the Permission Control Issues in Cross-Chain Operations: Through access control rules and transaction verification rules, it restricts the operation permissions of the source chain on the target chain, ensuring the security of cross-chain transactions.
The acquisition of this patent marks a new breakthrough in Zhejiang Merchants Bank's application of blockchain technology. In the future, Zhejiang Merchants Bank will continue to explore the application of blockchain technology in the financial field, driving the innovative development of financial technology.
Tag: Cross-Chain Zhejiang Merchants Bank Obtains Blockchain Identity Authentication and
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