Financial World News, July 4, 2024 – According to the intellectual property information from Tianyancha, Zhejiang Commercial Bank Limited has obtained a patent titled “Blockchain Cross-Chain Identity Authentication and Permission Control Method, Device, and Computer Equipment”. The patent announcement number is CN112508560B, and the application was filed on December 2020.
The patent abstract reveals a method, device, and computer equipment for blockchain cross-chain identity authentication and permission control. The method includes initiating cross-chain registration from the source chain to the target chain. The target chain examines the registration information, issues a cross-chain certificate for the source chain, generates a cross-chain smart contract, generates access control rules and transaction verification rules for the source chain based on the registration information, and returns the registration result. The source chain initiates cross-chain transactions to the target chain. The target chain receives the cross-chain transaction request, decrypts it using a private key, checks the cross-chain transaction, executes the access control rules of the cross-chain contract if the check passes, executes the transaction verification rules if the check passes, converts the transaction into the target chain transaction structure, executes the transaction, and returns the result to the source chain. The source chain verifies the cross-chain transaction result, completes the cross-chain transaction if the verification passes. This invention enhances the authenticity of the identities of both parties involved in cross-chain transactions and solves the permission control issues in cross-chain operations.
Source: Financial World
Author: Intelligence Officer