Craig S. Wright , a pioneering Bitcoin scientist, have developed a portfolio of patent applications. They are leading research into solutions to massively scale the Bitcoin SV network and enable powerful technology applications of its blockchain. Details will be emailed to registrants before the May virtual Hackathon. Submissions will be judged and reviewed within approximately one week after the online competition. Three finalists will be selected and one representative of each will be flown to Toronto to present their solution at the CoinGeek Conference for final judging.
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They will then become available for the corresponding slot. Best casino sites europe Read our full Winz review, wildhorse bitcoin casino bitcoin slot tournament. Cryptocurrency casinos are on the rise, wildhorse bitcoin casino bitcoin slot tournament. At , only if the minimum number of approvals are detected, the first host computer system 14 starts a countdown timer and sends an email to the user of the account informing the user that the bitcoin will be transferred after 48 hours.
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Block represents the transmission of three email reminders to the user during the 48 hour waiting period. Each email includes the time remaining before the 48 hours will have elapsed and the amount of bitcoin that will be transferred out of the vault. The cancel instruction will cancel the transfer of the bitcoin and therefore the request that was transmitted at At , the first host computer system 14 detects an end of the time period. The first host computer system 14 then transfers the amount of bitcoin out of the vault and in to the destination selected at The first host computer system 14 also updates the transaction list on the website to indicate that the transaction has been cleared.
The vault establishment wizard is programmed to execute the establishment of the vault as described with reference to FIG. The vault management module is programmed to manage the vault as described with reference to FIG. A user accesses the website and downloads an interface so as to interact via the website with the vault establishment wizard and the vault management module The vault management module provides instructions to the transaction processor to transfer the bitcoin out of the vault. Email addresses are used in the exemplary embodiment for electronic communication via email.
Another embodiment may make use of other electronic communication addresses such as text messages to phone numbers or messages through social networks. A secondary electronic communication address may be an individual address or a group address. At , a user at the first user device 18 transmits a request for a user-controlled vault to the first host computer system At , the first host computer system 14 responds to the request to initiate key generation. At , the first host computer system 14 generates a seed for a master key.
At , the first host computer system 14 uses the seed generated at to generate a master key. The master key includes a public key for the master key and a private key for the master key. At , the first host computer system 14 stores the public key for the master key and, at , stores the private key for the master key. The combination of the keys stored at and form a master key set A generation script initially resides on the first host computer system At , the first host computer system 14 transmits the generation script to the first user device The first user device 18 receives the generation script , which is executable on the first user device At , the generation script generates a seed for a shared key.
The generation script includes a key generation algorithm. At , the key generation algorithm uses the seed generated at to generate a shared key. The shared key includes a public key and a private key. The private key for the shared key is shown at The generation script also includes an interface with a field for a user to enter a password via a keyboard.
At , the user enters the password into the interface. The generation script also includes an encryption algorithm. At , the encryption algorithm generates an encrypted seed from the private key shown at and the password entered at At and , the key generation algorithm and encryption algorithm respectively send the public key of the shared key and the encrypted seed to the first host computer system At , the first host computer system 14 stores the public key for the shared key and, at , stores the encrypted seed for the shared key.
The public key stored at and the encrypted seed can be viewed as a shared key set Additionally, the private key shown at forms part of the shared key set The private key shown at is however never transmitted from the first user device 18 to the first host computer system At , the generation script further generates a seed for a user key.
At , the key generation algorithm uses the seed generated at to generate a user key. The user key includes a public key for the user key and a private key for the user key. At , the key generation algorithm transmits only the public key for the user key to the first host computer system At , the first host computer system 14 stores the public key for the user key. At , the generation script displays the private key for the user key to the user.
The user can then store the private key manually on the first user device 18 or write it down for later use. The first user device 18 never transmits the private key displayed at to the first host computer system The combination of the public key for the user key stored at and the private key for the user key displayed at form a user key set At , the user of the first user device 18 creates and transmits a request to transact using bitcoin of the user-controlled vault.
At , the request reaches the transaction processor hereinbefore described. At , the first host computer system 14 creates an authorization for the transaction. The master key set , shared key set and user key set are replicated from FIG. It should however be understood that these keys are stored or displayed in FIG. At , the first host computer system 14 signs the authorization with the private key for the master key.
Such signature then allows for an authorization to transact at As shown in , two out of three authorizations are required in order to transact and the authorization provided at may form one of the two authorizations. A verification script initially resides on the first host computer system At , the first host computer system 14 initiates key collection by transmitting the verification script to the first user device The verification script is executable on the first user device Both the generation script in FIG.
The encrypted seed stored at on the first host computer system 14 is transmitted together with the verification script and is received at by the first user device The verification script further includes an interface with a field for entering a password.
At , the user enters the same password that the user entered at in FIG. The verification script further includes a decryption algorithm. At , the decryption algorithm uses the encrypted seed and the password to decrypt the encrypted seed and obtain the private key. The encryption at in FIG. The authorization is transmitted together with the verification script to the first user device The verification script further has a signature algorithm.
At , the signature algorithm signs the authorization with the private key. The signature algorithm then transmits the signed authorization together with the signature to the first host computer system The first host computer system 14 has a verification module. As will be commonly understood as those skilled in the art, a verification module is an algorithm that verifies a signature that was created with a private key using a public key.
At , the verification module verifies the signature using the same public key stored at for the shared key in the shared key set that also includes the encrypted seed stored at At , the verification module determines whether the signature is correct. If the signature is not correct, then the first computer system 14 returns to where the encrypted key is received and the user enters a password. If, at , a determination is made that the signature is correct, then the first host computer system 14 proceeds to to provide an authorization due to the signature being correct.
The authorization at may be one of the authorizations required at in order to authorize the transaction.
The verification script further includes an interface for entering the private key of the user key that was previously displayed at to the user. At , the user enters the private key into the field provided therefor. At , a signature algorithm forming part of the verification script signs the authorization with the private key that has been entered by the user. At , a verification module verifies the signature using the public key that was stored at If the signature is incorrect, then the first host computer system 14 instructs the verification script to return to where the user is again asked for the private key for the user key.
If the signature is correct, then the first host computer system 14 proceeds to to provide an authorization for the transaction due to the signature being correct. The authorization provided at may be one of the authorizations required at What should be noted this time is that the password entered at is never transmitted to the first host computer system Similarly, the private key entered at is never transmitted to the first host computer system The user's control over the password and private key effectively disallows the transaction from being processed outside of the user's control.
After two out of the three authorizations have been received at , the first host computer system 14 proceeds at to authorize the transaction with the transaction processor A master key seed , shared key seed and user key seed are generated. The master key seed is used to generate a master public key and a master private key The shared key seed is used to generate a shared public key and a shared private key The user key seed is used to generate a user public key and user private key The shared keys at each level may then be combined to generate an address.
The address Address 0 may for example be the bitcoin address for the transaction. The further addresses may be generated to create further bitcoin addresses of for other purposes. The receiver computer system includes a receiver browser The partner computer system has a website, in the present example a blog with a blog post that has a blog post URL At , a user of the receiver computer system uses the receiver browser to create the blog post The first host computer system 14 has a wallet in the form of receiver account , an embedded code generator and a button ID generator At , the user of the receiver computer system creates the receiver account The receiver account has login details and a receiver account identifier ID At , the user of the receiver computer system logs into the receiver account and enters the blog post URL through the user interface 36 FIG.
The blog post URL is then stored in association with the particular receiver account with the wallet management module 44 FIG. At , the first host computer system 14 provides the blog post URL to the embedded code generator and button ID generator The embedded code generator then generates an embedded code and, at , transmits the embedded code to the receiver browser The embedded code includes the blog post URL , receiver account ID and a startup caller The blog post on the partner computer system has a frame for pasting the embedded code due to prior agreement between operators of the first host computer system 14 and the partner computer system At , the user of the receiver computer system copies the embedded code received at and pastes the embedded code into the frame of the blog post A blog post is used herein to describe the invention by way of example.
It should however be understood that the invention may have broader application.
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A URL of a page may for example have a video, song or news article. Such a page will typically have a frame for pasting the embedded code Alternatively, media content such as a video may not have a separate frame for pasting the embedded code. Instead, another manner of activating payment features of the invention may be provided, such as a separate URL link, voice activation, detection of human gestures of a user, etc.