Method and system for prevention of lost currency in blockchain networks to missing wallets

Patent metadata

Field	Value
Publication number	US-11915228-B2
Application number	US-202217842039-A
Country	US
Kind code	B2
Filing date	Jun 16, 2022
Priority date	Jan 22, 2020
Publication date	Feb 27, 2024
Grant date	Feb 27, 2024

Abstract

A method for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency includes receiving a new blockchain transaction by a blockchain node in a blockchain network, confirming the new blockchain transaction including identifying a precedence transaction that was previously conducted and stored in the blockchain that involves both blockchain wallets included in the new blockchain transaction, including the new blockchain transaction in a new block that is generated, and distributing the new block to additional nodes in the blockchain network for confirmation and addition to the blockchain.

First claim

What is claimed is:

1. A method for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency, comprising:
storing, in a memory of a blockchain node, a blockchain, wherein each block of the blockchain includes at least one blockchain data value including a reference to a sending blockchain wallet and a reference to a recipient blockchain wallet;
receiving, by a receiver of the blockchain node, from a computing device, a new blockchain transaction including a digital signature of a first blockchain wallet and a recipient address of a second blockchain wallet;
identifying, in the blockchain, a blockchain data value of the at least one blockchain data value where (i) the sending blockchain wallet is the first blockchain wallet and the recipient blockchain wallet is the second blockchain wallet, or (ii) the recipient blockchain wallet is the first blockchain wallet and the sending blockchain wallet is the second blockchain wallet; and
in response to identifying the blockchain data value, generating, by a processor of the blockchain node, a new block including at least one new blockchain data value, wherein the at least one new blockchain data value includes the new blockchain transaction.

2. The method of claim 1 , further comprising:
validating, by the processor of the blockchain node, the digital signature included in the new blockchain transaction using a public key of the first blockchain wallet.

3. The method of claim 1 , wherein
the new blockchain transaction includes a transaction reference identifier, and the identified blockchain data value includes the transaction reference identifier.

4. The method of claim 3 , wherein the new blockchain transaction further includes a precedence flag.

5. A method for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency, comprising:
storing, in a memory of a blockchain node, a blockchain, wherein each block in the blockchain includes at least one blockchain data value including a reference to a sending blockchain wallet and a reference to a recipient blockchain wallet;
receiving, by a receiver of the blockchain node, from a computing device, a new blockchain transaction including a digital signature of a first blockchain wallet and a recipient address of a second blockchain wallet;
generating, by a processor of the blockchain node, a precedence blockchain transaction including the first blockchain wallet, the second blockchain wallet, and a zero or nominal transaction amount;
transmitting, by a transmitter of the blockchain node, a first new block to a plurality of additional blockchain nodes, the first new block including the precedence blockchain transaction;
receiving, by the receiver of the blockchain node, a confirmation message from the computing device;
subsequent to receiving the confirmation message, generating, by the processor of the blockchain node, a new block including at least one new blockchain data value, wherein the at least one new blockchain data value includes the new blockchain transaction.

6. The method of claim 5 , further comprising:
validating, by the processor of the blockchain node, the digital signature included in the new blockchain transaction using a public key of the first blockchain wallet.

7. The method of claim 5 , wherein
the precedence blockchain transaction further includes a transaction reference identifier, and
the confirmation message includes the transaction reference identifier.

8. The method of claim 5 , wherein the new blockchain transaction further includes a precedence flag.

9. A system for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency, comprising:
a blockchain network,
a blockchain node in the blockchain network, the blockchain node including a memory storing the blockchain, where each block in the blockchain includes at least one blockchain data value including a reference to a sending blockchain wallet and a reference to a recipient blockchain wallet, a receiver receiving a new blockchain transaction including a digital signature of a first blockchain wallet and a recipient address of a second blockchain wallet, and
a processor
identifying a blockchain data value of the at least one blockchain data value where (i) the sending blockchain wallet is the first blockchain wallet and the recipient blockchain wallet is the second blockchain wallet, or (ii) the recipient blockchain wallet is the first blockchain wallet and the sending blockchain wallet is the second blockchain wallet, and
generating, in response to identifying the blockchain data value, a new block including at least one new blockchain values value, wherein the at least one new blockchain data value includes the new blockchain transaction.

10. The system of claim 9 , wherein the processor of the blockchain node validates the digital signature included in the new blockchain transaction using a public key of the first blockchain wallet.

11. The system of claim 9 , wherein
the new blockchain transaction includes a transaction reference identifier, and
the identified blockchain data value includes the transaction reference identifier.

12. The system of claim 11 , wherein the new blockchain transaction further includes a precedence flag.

13. A system for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency, comprising:
a blockchain network,
a blockchain node in the blockchain network, the blockchain node including
a memory storing a blockchain, wherein each block in the blockchain includes at least one blockchain data value including a reference to a sending blockchain wallet and a reference to a recipient blockchain wallet,
a receiver receiving, from a computing device, a new blockchain transaction including a digital signature of a first blockchain wallet and a recipient address of a second blockchain,
a processor of the blockchain node generating a precedence blockchain transaction including the first blockchain wallet, the second blockchain wallet, and a zero or nominal transaction amount, and
a transmitter transmitting a first new block to a plurality of additional blockchain nodes in the blockchain network, the first new block including the precedence blockchain transaction, wherein

the receiver receives a confirmation message from the computing device, and
subsequent to receiving the confirmation message, the processor generates a new block including at least one new blockchain data value, wherein the at least one new blockchain data value includes the new blockchain transaction.

14. The system of claim 13 , wherein the processor of the blockchain node validates the digital signature included in the new blockchain transaction using a public key of the first blockchain wallet.

15. The system of claim 13 , wherein
the precedence blockchain transaction further includes a transaction reference identifier, and
the confirmation message includes the transaction reference identifier.

16. The system of claim 13 , wherein the new blockchain transaction further includes a precedence flag.

Assignees

• Mastercard International Inc

Inventors

• Kumawat Jaipal Singh
• Kumar Shubham
• Dixit Apoorva
• Koduri Aditya
• Garg Chandan

Classifications

• G06Q20/3674 Primary

  involving authentication · CPC title

• G06Q20/401

  Transaction verification · CPC title

• G06Q20/4016

  involving fraud or risk level assessment in transaction processing · CPC title

• H04L9/0618

  Block ciphers, i.e. encrypting groups of characters of a plain text message using fixed encryption transformation · CPC title

• H04L9/0643

  Hash functions, e.g. MD5, SHA, HMAC or f9 MAC · CPC title