COMPUTER-IMPLEMENTED SYSTEMS AND METHODS FOR ENHANCED BITCOIN WALLETS

Abstract

The invention provides a smart cryptocurrency wallet. Embodiments of the invention provide a blockchain-implemented system and corresponding method for the secure, cryptographically enforced execution of a task. The invention may be implemented in conjunction with the Bitcoin blockchain, a variation thereof or an alternative blockchain platform. The invention provides an enhanced digital wallet which is capable of performing extended functionality beyond that of known cryptocurrency wallets. A system in accordance with the invention comprises a digital wallet; and a process execution component, e.g. an interpreter, embedded within, associated with, or arranged to interact with the digital wallet. The interpreter is arranged to execute or initiate at least one process in response to at least one trigger associated with or provided in a script for a blockchain transaction. The trigger may comprise one or more codes and/or parameters. The trigger may be codified within metadata in a locking script, and be provided to the wallets interpreter upon spending of the transaction output. The interpreter may be installed as a plug in or extension to the wallet.

Claims

1. A blockchain-implemented system comprising: a digital wallet; and a process execution component embedded within, associated with, or arranged to interact with the digital wallet and arranged to execute and/or initiate at least one process in response to at least one trigger provided in a script associated with a blockchain transaction; wherein the process execution component is and/or comprises an interpreter arranged to translate codified instructions provided by or represented by the trigger into executable logic.

2. A system according to claim 1 wherein: the wallet is a cryptocurrency wallet.

3. A system according to claim 1 wherein: the at least one trigger comprises one or more codes, flags, instructions and/or parameters.

4. A system according to claim 1 wherein: the at least one trigger causes a signal to be sent to a destination external to the wallet.

5. A system according to claim 1 wherein: the process is pre-determined and known to the process execution component and/or wallet.

6. A system according to claim 1 wherein: the process is determined by, or specified within, the script, preferably wherein the process execution component is arranged to translate or interpret one or more items within the script into executable logic.

7. A system according to claim 1 wherein: the at least one trigger and/or at least one process is selected or determined in accordance with a contract, preferably wherein the contract is a smart contract.

8. A system according to claim 1 wherein: the at least one trigger is provided within or by metadata that is provided by the script.

9. A system according to claim 1 wherein: the script is associated with an output of the blockchain transaction, and spending of the output causes transfer of a token and/or portion of currency to a recipient on the blockchain.

10. A system according to claim 1 wherein: the system further comprises a plurality of digital wallets and/or process execution components.

11. A blockchain-implemented method comprising the step of: providing a process execution component embedded within, associated with, or arranged to interact with a digital or cryptocurrency wallet and arranged to execute at least one process in response to at least one trigger associated with or provided in a script of a blockchain transaction.

12. A method according to claim 11 wherein: i) the at least one trigger is arranged to initiate execution of the one or more processes by the process execution component; ii) the at least one trigger comprises one or more codes, instructions, flags and/or parameters iii) the process execution component is an interpreter; and/or iv) the at least one trigger causes a signal to be sent to a destination external to the wallet.

13. A method according to claim 11 wherein: i) the process is pre-determined and known to the process execution component and/or wallet; ii) the process is determined by, or specified within, the script, preferably wherein the process execution component is arranged to translate or interpret one or more items within the script into executable logic; iii) the at least one trigger and/or at least one process is selected or determined in accordance with a contract, preferably a smart contract; iv) the at least one trigger is provided within or by metadata that is provided within the script; and/or v) the script is associated with an output of the blockchain transaction, and spending of the output causes transfer of a token and/or portion of currency to a recipient on the blockchain.

14. A method according to claim 11 and further comprising the step of: downloading and/or installing the digital wallet; and/or downloading and/or installing the process execution component.

15. A blockchain-implemented method comprising the step of: using one or more codified instructions provided in or by a script of a blockchain transaction to cause an interpreter associated with, operable with or embedded within, a digital or cryptocurrency wallet to translate the codified instruction(s) into executable logic.

16. A method according to claim 15 and further comprising the step of: providing the codified instruction(s) in the script; and/or submitting the blockchain transaction to a blockchain network to be written to a blockchain ledger.

17. A blockchain-implemented method comprising the step of: i) arranging an interpreter to recognise one or more codified instructions provided in or by a script of a blockchain transaction, the interpreter being embedded in, associated with or operable with a digital or cryptocurrency wallet; or ii) providing an interpreter as defined in i).

18. A blockchain-implemented system comprising: an interpreter arranged to recognise one or more codified instructions provided in or by a script of a blockchain transaction, the interpreter being embedded in, associated with or operable with a digital or cryptocurrency wallet.

19. A system, comprising: one or more processors; and memory storing instructions executable by the one or more processors to cause the system to perform the method of claim 12.

20. A system, comprising: one or more processors; and memory storing instructions executable by the one or more processors to cause the system to perform the method of claim 13.

Description

[0063] These and other aspects of the present invention will be apparent from and elucidated with reference to, the embodiment described herein. An embodiment of the present invention will now be described, by way of example only, and with reference to the accompany drawings, in which:

[0064] FIG. 1 illustrates an embodiment of the present invention in which smart contract logic is managed by specialised, enhanced wallets.

[0065] FIG. 2 illustrates an example blockchain network of nodes as is known in the prior art.

[0066] FIG. 3 illustrates, in block diagram form, an example node.

[0067] To provide the technical context of the invention, reference will first be made to FIG. 2 which illustrates, in block diagram form, an example blockchain network 100 associated with a blockchain. The blockchain network is a peer-to-peer network which may be joined by anyone, without invitation or without consent from other members. Distributed electronic devices running an instance of the blockchain protocol under which the blockchain network 100 operates may participate in the blockchain network 100. Such distributed electronic devices may be referred to as nodes 102. The blockchain protocol may be a Bitcoin protocol, or other cryptocurrency, for example.

[0068] The electronic devices that run the blockchain protocol and that form the nodes 102 of the blockchain network 100 may be of various types including, for example, computers such as desktop computers, laptop computers, tablet computers, servers, mobile devices such a smartphones, wearable computers such as smart watches or other electronic devices.

[0069] Nodes 102 of the blockchain network 100 are coupled to one another using suitable communication technologies which may include wired and wireless communication technologies. In many cases, the blockchain network 100 is implemented at least partly over the Internet, and some of the individual nodes 102 may be located in geographically dispersed locations.

[0070] Nodes 102 maintain a global ledger of all transactions on the blockchain. The global ledger is a distributed ledger and each node 102 may store a complete copy or a partial copy of the global ledger. Transactions by a node 102 affecting the global ledger are verified by other nodes 102 so that the validity of the global ledger is maintained. The details of implementing and operating a blockchain network, such as one using any variant derived from the Bitcoin protocol or an alternative protocol, will be appreciated by those ordinarily skilled in the art.

[0071] Each transaction typically has one or more inputs and one or more outputs. Scripts embedded into the inputs and outputs specify how and by whom the outputs of the transactions can be accessed. The output of a transaction may be an address to which control of private cryptographic keys and tokens can be transferred as a result of the transaction. Those keys/tokens are then associated with that output address as an available transaction output. In the context of a cryptocurrency, like Bitcoin, an available transaction output may be referred to as an unspent transaction output (UTXO). A subsequent transaction may then reference that address as an input in order to transfer those keys/tokens to one or more other addresses.

[0072] Nodes 102 may be of different types or categories, depending on their functionality. It has been suggested that there are four basic functions associated with a node 102: wallet, mining, full blockchain maintenance, and network routing. There may be variations of these functions. Nodes 102 may have more than one of the functions. For example, a full node offers all four functions. A lightweight node, such as may be implemented in a digital wallet, for example, and may feature only wallet and network routing functions. Rather than storing the full blockchain, the digital wallet may keep track of block headers, which serve as indexes when querying blocks. Nodes 102 communicate with each other using a connection-oriented protocol, such as TCP/IP (Transmission Control Protocol).

[0073] We now turn our attention to embodiments of the present invention, which utilise and interact with this blockchain technology.

[0074] Embodiments of the present invention provide a solution in which processes can be automated via the use of a blockchain. The invention incorporates a software resource which is arranged to respond to or interact with scripts provided within blockchain transactions (TXs). In a preferred embodiment, the software resource is a digital wallet. In particular, the wallet is arranged to store, enact, generate or otherwise process cryptocurrency and related transactions. Hereafter, the terms wallet or digital wallet will be used interchangeably for convenience. While digital wallets are known in the art, the present invention improves upon such technologies to provide a smart wallet which is capable of providing much wider functionality than presently known, in conjunction with a blockchain network and protocol.

[0075] In a preferred embodiment, the invention provides an arrangement which enables one or more processes to be executed by an enhanced wallet that has a code execution component embedded within it or added to it as an extension. Hereafter, we will refer to this as the interpreter, interpreters being known in the art as mechanisms for code translation and execution.

[0076] In accordance with embodiments of the invention, the interpreter is able to initiate and/or execute processes that are triggered by codified instructions provided in blockchain transaction scripts. The script is associated with an output (UTXO) in a blockchain transaction (Tx), and is a locking script. The locking script may comprise the hash of a redeem script as known in the art, such that the correct redeem script must be provided to the unlocking script in order to spend the output.

[0077] In one embodiment, a network of such enhanced wallets comprises an execution environment for smart contracts implemented in the form of codified instructions embedded within scripts. That is, a script might contain codes, instructions, variables and parameters that trigger wallets to execute certain processes.

[0078] For example, consider known, contractual situations in which a payment serves as the trigger for an event to occur, such as the commencement of a piece of building work, or the unlocking of a device, or the release of some digital content such as media content or software, or a transfer of funds, or anything else that is specified by the contract.

[0079] Advantageously, we can implement such events using the enhanced smart wallet provided by the present invention. As is known in the art, when an output in a blockchain transaction is spent, control of the cryptocurrency associated with that output is transferred from one party to another. Spending of the output can also cause the transfer of a token, which may be embedded within the transaction script. The recipient of the transfer can be an enhanced wallet in accordance with the invention.

[0080] However, this can be extended such that a blockchain transaction which makes such a transfer could also be coded to include a trigger for the ensuing, associated event. The event may be executed in part or entirety by the enhanced wallet/interpreter itself or it may simply be initiated by the wallet e.g. by sending a signal to a destination to cause execution of the event by another resource. In some embodiments, this event could be an off-block event.

[0081] So, in other words, a transfer on the blockchain from one party to another causes at least one other event to be initiated and/or executed by the enhanced wallet.

[0082] The invention is not limited by the type of event (process) that can be triggered. However, by way of a simple example, it could be the transmission of some kind of signal such as an email that alerts a builder that payment has been made and work can commence. In another example, a signal can be sent which causes a device or resource to be unlocked. Thus, the invention can serve as an authentication or security solution. Note that these simple examples are for illustration only.

[0083] The triggered event(s) might be predictable in that they could be standardised processes that only need a trigger to initiate execution. Alternatively, the process to be executed is codified within the script and the wallet's Interpreter is arranged to translate the codified instruction(s) into executable logic. When a transaction is broadcast throughout the blockchain network as part of the normal protocol, the enhanced wallets can read any embedded codified instructions and execute them as an enhanced, extended functionality i.e. functionality beyond the normal transaction processing that known wallets can perform. In one sense, then, a wallet arranged in accordance with the invention is extended from being solely a payment processing and handling resource into a multi-purpose, computing facility. When used in conjunction with the performance of smart contracts, the invention becomes a powerful, versatile computing tool with much wider applicability than just traditional wallet-based storage and processing.

[0084] As the invention serves as an extension to existing, known wallets, it can be regarded in one sense as providing a new paradigm for software distribution. The invention can be added to an existing wallet to provide the extended functionality. This could be thought of as a plug in. The interpreter can be downloaded and installed on a computing resource and associated with an existing wallet, or it can be provided as an embedded component which is provided within the wallet rather than installed as an extension. In the case of the latter, the extension may interface with the wallet using an API. The interpreter can be arranged and configured to perform tasks(s) required or desired by the user in accordance with a contract, agreement, scheme, network etc that they are a participant in.

[0085] Beneficially, the invention provides a solution which does not need to rely on third parties to execute automated bots for smart contract performance and event handling via the blockchain. Also, the present invention requires a less complex infrastructure than a network of bots, and is also suitable for executing multiply-realisable processes.

[0086] The invention can also be used to advantage to form a network of enhanced wallets, which can interact with one another to perform sophisticated behaviours and tasks. In such an Enhanced Wallet network the executed logic is most likely not explicit and is executable by any of the resources. The information required for the execution logic is provided and transmitted within the (e.g. Bitcoin) script as codified triggers that are detected and responded to by the interpreters within the network's wallets.

[0087] Use Case Example:

[0088] Consider the following scenario as an illustrative use case for enhanced wallets in accordance with one embodiment of the invention, and with reference to FIG. 1.

[0089] In this example, a manager or controller distributes a generic Enhanced Wallet to willing recipients. These recipients could be referred to as hosts, clients or users. They may be computers upon which the invention can be installed and executed. This is illustrated as the host node 1 in FIG. 1. For convenience we will call this the Smart Wallet 2. This Smart Wallet does not perform any intelligent or extended functionality, and does not respond to any triggers as it serves simply as a core, generic cryptocurrency wallet that can be used to store and handle blockchain transactions. In order to extend the functionality of the base Smart Wallet, the user installs one or more Smart Wallet plug-ins 3 designed to generate and/or execute logic. Upon provision of the plug in 3, the generic wallet 2 now comprises an interpreter which provides intelligent capabilities to the wallet. These plug ins can be provided with, or separately from, the base Smart Wallet 2. The Smart Wallet is capable of interaction and integration with the plug in(s) and vice versa. The plug in(s) respond to a particular, predetermined set of triggers 4 provided within locking scripts 5 of blockchain transactions (TXs) 6 to execute specific process(es) in accordance with a given task. As the Smart Wallet 2 and the plug ins 3 are designed to work in conjunction with the blockchain, the invention inherits all the benefits of the underlying infrastructure of the Blockchain i.e. cryptographic security; pseudonymity; robustness; etc.

[0090] For example, one wallet plug in could be a pharmacy application. In this example scenario, the doctor writes a prescription for a particular patient who is allowed exactly three repeats. To prevent abuse, it is important that the prescription is not forged; that only the intended recipient receives the medication; and that everything is securely trackable so that (for example) only the allowed number of repeats are filled. The prescription is written into a Bitcoin transaction 6 as metadata in the locking script 5 of a UTXO using tokenisation techniques known in the art, and signed by the doctor. This may be a digital signature. This locks the output to the desired recipient. The metadata includes codified triggers 4 for the Pharmacy plug in 3. The pharmacy has installed the Smart Wallet 2 and this plug in 3 on their server 1.

[0091] When the recipient presents the prescription to the pharmacy, the transaction output is spent in the conventional way i.e. the tokenised prescription is redeemed at the pharmacy, and perhaps also contains the payment for the actual cost of the medication, possibly in cryptocurrency. In addition to redeeming the token at the pharmacy, the wallet plug in executes a range of associated processes. For example, it updates a government database 7 of prescriptions being filled (who prescribed it; for whom; filled by which pharmacist; for which drugs; etc.); it updates the recipient's (Blockchain-based) medical records 7; etc.

[0092] The skilled person will readily appreciate that any number of associated processes can be automated based on the metadata. For example, the prescription itself can be prepared ahead of time by the pharmacist and simply picked up by the recipient rather than the recipient needing to wait at the pharmacy (as per the conventional, paper-based paradigm).

[0093] Reference will now be made to FIG. 3, which shows, in block diagram form, a simplified example of a node 300, which may, in the context of the present disclosure, be a host node. The node 300 includes a processor 302, which may include one or more microprocessors, application specific integrated chips (ASICs), microcontrollers, or similar computer processing devices. The node 300 further includes memory 304, which may include persistent and non-persistent memory, to store values, variables, and in some instances processor-executable program instructions, and a network interface 306 to provide network connectivity over wired or wireless networks.

[0094] The node 300 includes a processor-executable blockchain application 308 containing processor-executable instructions that, when executed, cause the processor 302 to carry out one or more of the functions or operations described herein.

[0095] It should be noted that the above-mentioned embodiments illustrate rather than limit the invention, and that those skilled in the art will be capable of designing many alternative embodiments without departing from the scope of the invention as defined by the appended claims. In the claims, any reference signs placed in parentheses shall not be construed as limiting the claims. The word comprising and comprises, and the like, does not exclude the presence of elements or steps other than those listed in any claim or the specification as a whole. In the present specification, comprises means includes or consists of and comprising means including or consisting of. The singular reference of an element does not exclude the plural reference of such elements and vice-versa. The invention may be implemented by means of hardware comprising several distinct elements, and by means of a suitably programmed computer. In a device claim enumerating several means, several of these means may be embodied by one and the same item of hardware. The mere fact that certain measures are recited in mutually different dependent claims does not indicate that a combination of these measures cannot be used to advantage.