Method and system for optimizing blockchain parsing using a wallet's static characteristics

US11531980B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Anurag Aggarwal · Noida, IN
• Chandan Garg · Jabalpur, IN
• Ankur Arora · New Delhi, IN
• Aditya Koduri · Bhangrola, IN

Key dates

• Filing date: Dec 6, 2019
• Grant date: Dec 20, 2022
• Expiry date: Jun 15, 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 optimized validation of a blockchain transaction through the use of a parallel database and date management includes: receiving a new blockchain transaction that includes unspent transaction outputs; identifying, in a parallel database, a start date for a blockchain wallet involved in the new transaction; identifying a subset of blocks in the blockchain that have been added to the blockchain since the start date; validating the new blockchain transaction by validating the unspent transaction outputs using the subset of blocks; and, if the validation is successful, adding the new transaction to the blockchain, or, if the validation is unsuccessful, notifying the submitter of the failed validation.