Blockchain Holdings Applies for Patent on "Script-Based Blockchain Interaction" to Enhance Digital Asset Control Security

Blockchain Holdings Applies for Patent on "Script-Based Blockchain Interaction" to Enhance Digital Asset Control SecurityFinancial World, October 29, 2024: Information from the State Intellectual Property Office of China reveals that Blockchain Holdings Limited has applied for a patent titled "Script-Based Blockchain Interaction," with publication number CN118822540A, filed in May 2018. This patent aims to enhance the security of digital asset control through the use of blockchain networks

Blockchain Holdings Applies for Patent on "Script-Based Blockchain Interaction" to Enhance Digital Asset Control Security

Financial World, October 29, 2024: Information from the State Intellectual Property Office of China reveals that Blockchain Holdings Limited has applied for a patent titled "Script-Based Blockchain Interaction," with publication number CN118822540A, filed in May 2018. This patent aims to enhance the security of digital asset control through the use of blockchain networks.

The patent abstract describes a computer-implemented method utilizing a blockchain network:

1. Receiving the First Transaction Information: At a node in the blockchain network, receive the first transaction information related to the digital asset. This information comprises at least two key parts:

• First Constraint Set on the Second Transaction: This specifies conditions for execution of the second transaction, which involves the transfer of control over the digital asset. The constraint set may contain one or more conditions requiring the second transaction to incorporate a data set from the blockchain network.

• Second Constraint Set on the Second Transaction: This constraint set ensures the second transaction incorporates a data set from the blockchain network, and this data set must contain the block where the first transaction resides. This block must also be contained within the blockchain associated with the blockchain network.

2. Verifying the Constraint Sets: Verify the first and second constraint sets to ensure their satisfaction.

3. Transferring Digital Asset Control: Based on the verification results, transfer control of the digital asset at least partially.

The method proposed in the patent links the transfer of digital asset control to data within the blockchain network by introducing data sets and multiple constraints. This ensures only transactions meeting specific conditions can execute, thus enhancing digital asset control security. The method effectively prevents unauthorized transactions and ensures legitimate transfer of digital assets.

Notably, this patent application dates back to May 2018, indicating Blockchain Holdings Limited's early focus on utilizing blockchain technology for digital asset security. In recent years, the rapid development of blockchain technology has brought increasing attention to digital asset security issues. This patent's implementation will provide new safeguards for secure digital asset transactions and contribute to the advancement of blockchain technology in the financial sector.