Hot wallet protection using a layer-2 blockchain network
US11978038B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 6, 2022 |
| Grant date | May 7, 2024 |
| Priority date | — |
| Expiry date | Nov 8, 2042 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L2209/56
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods and systems for digital hot wallet protection are provided. A payment channel is established via a Layer-2 network of a cryptocurrency blockchain for transferring a cryptocurrency balance from a first digital wallet of a service provider to a second digital wallet of a trusted entity over a plurality of commitment transactions. A transaction receipt for each commitment transaction is transmitted to the trusted entity via a secure communication channel previously established between the service provider and the trusted entity outside of the Layer-2 network. A transaction log of the service provider is modified so that it no longer represents the current transaction state of the payment channel Responsive to detecting a breach of the first wallet, a transaction is broadcast to a Layer-1 network of the blockchain for transferring the total cryptocurrency balance from the first wallet to the second wallet.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.