Multi-approval system using M of N keys to generate a sweeping transaction at a customer device

US11531985B2 · kind B2 · utility

Assignee

• tZERO IP, LLC · US

Inventors

• Joel Weight · Sandy, US
• Tron Black · Sandy, US
• Denny Becker · Salt Lake City, US

Key dates

• Filing date: Jan 17, 2019
• Grant date: Dec 20, 2022
• Expiry date: Jan 17, 2039

Classification

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

Abstract

A computing system that includes at least one processor and at least one memory communicatively coupled to the at least one processor is disclosed. The computing system also includes at least one network interface communicatively coupled to the at least one processor and configured to communicate with at least one vault system, each of the at least one vault system storing a respective one of N private keys or key components associated with a customer. The at least one processor is configured to generate, at the customer device, a sweeping transaction that transfers all funds from at least one input transaction address in a customer wallet to a new transaction address. The at least one processor is also configured to sign the sweeping transaction using at least M of N private keys or key components.