DEVICE, METHOD AND SYSTEM FOR VIRTUAL ASSET TRANSACTIONS

• US 20160342977A1
• Filed: 05/02/2016
• Published: 11/24/2016
• Est. Priority Date: 05/20/2015
• Status: Abandoned Application

• Current Assignee: Numeric Juice Pty Ltd.
• Original Assignee: Vennd.io Pty Ltd.
• Inventors: Lam, Jeremy
• Application Number:
  US15/143,995
• Publication Number:
  US 20160342977A1
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/0658 e-cash managed locally
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/3678 e-cash details, e.g. blinded, divisible or detecting double spending
• CPC Class Codes: G06Q 20/3827 Use of message hashing
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: H04L 9/0643 Hash functions, e.g. MD5, SHA, HMAC or f9 MAC
• CPC Class Codes: H04L 9/0861 Generation of secret information including derivation or calculation of cryptographic keys or passwords

Abstract

A method and system for digital currency transactions and, more specifically, a method and system for cryptocurrency transactions across ledgers or blockchains.

Claims

1. A system for performing an action on a blockchain, wherein the system comprises;

a first address with an associated first private key for a first blockchain;

a second address with a second key for a second blockchain; and

wherein the first private key and second private key are hashed such that a hierarchy key is generated which is adapted authorise at least one action associated with at least one of the first blockchain and the second blockchain.

2. The system of claim 1, wherein at least one of the first and second keys is a private key.

3. The system of claim 1, wherein at least one rule is associated with one of the first and the second addresses.

4. The system of claim 3, wherein the at least one rule is adapted to trigger at least one action.

5. The system of claim 1, wherein the hierarchy key authorises the trade of a virtual asset.

6. The system of claim 1, wherein at least one address associated with the system is a multisig address.

7. The system of claim 1, wherein the system is adapted to parse a block associated with a blockchain.

8. The system of claim 1, wherein when an action is performed a timestamp is associated with the action.

9. The system of claim 1, wherein the system is adapted to store at least one data set associated with an action.

10. The system of claim 1, more than two blockchains are associated with the system.

11. A system for adapted for use with a virtual asset associated with a blockchain, wherein the system comprises;

parsing at least one block associated with a blockchain and storing the at least one parsed block;

associating at least one user account with the at least one stored parsed block;

assigning a predetermined number of rules to at least one address; and

wherein when at least one of the predetermined number of rules assigned to the at least one address is triggered, an action is performed by the system.

12. The system of claim 11, wherein an action is a transaction.

13. The system of claim 11, wherein a timestamp is associated with at least one action performed.

14. The system of claim 11, wherein a virtual asset is at least one of a virtual currency, a fiat currency, a commodity, a product, a share, a stock, an object, or any other tangible asset.

15. The system of claim 11, wherein at least one data set associated with a parsed block is statefully stored on a computer readable medium.

16. The system of claim 11, wherein a check for a new block on at least one blockchain is performed at a predetermined interval.

17. The system of claim 11, wherein more than one action is triggered simultaneously.

18. The system of claim 11, wherein at least two blockchain addresses are associated with the system, such that more than one action can be performed.

19. The system of claim 11, wherein a hierarchy key is associated with the at least one user account such that a hierarchy key is used to perform actions on more than one address.

20. The system of claim 11, wherein the at least one user of the system can assign at least one rule to at least one account.