Method and system for user-based distributed ledgers

US11488145B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Ayushi Jain · Jaipur, IN
• Ankur Sarwate · New Delhi, IN
• Sidharth Goel · Kotkapura, IN
• Chandan Garg · Jabalpur, IN

Key dates

• Filing date: Mar 17, 2020
• Grant date: Nov 1, 2022
• Expiry date: Apr 28, 2041

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2209/56
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for processing cryptographic currency transactions through user-based blockchain ledgers includes: receiving, by blockchain node in a blockchain network, a new cryptographic currency transaction from a first computing device including unspent transaction outputs, a sender public key, receiver public key, destination address, and cryptographic currency amount; identifying, by the blockchain node, a sending blockchain associated with the sender public key including the unspent transaction outputs; validating, by the blockchain node, the sending blockchain by generating a hash value using the sending blockchain and comparing the generated hash value to a historic sender hash value associated with the sender public key; generating, by the blockchain node, a new sender hash value by hashing a combination of the sending blockchain and the new cryptographic currency transaction; and transmitting, by the blockchain node, the generated new sender hash value to a plurality of additional nodes in the blockchain network.