System, method and program product for modifying a supply of stable value digital asset tokens
The present invention generally relates to a method, system and program product for modifying a supply of stable value digital asset tokens tied to a blockchain.
1. A method of increasing a total supply of digital asset tokens comprising the steps of:
(a) providing a first designated key pair, comprising a first designated public key and a corresponding first designated private key,
wherein the first designated public key also corresponds to a first designated public address associated with an underlying digital asset; wherein the underlying digital asset is maintained on a distributed public transaction ledger maintained in the form of a blockchain by a plurality of geographically distributed computer systems in a peer-to-peer network in the form of a blockchain network, and
wherein the first designated private key is stored on a first computer system which is connected to the distributed public transaction ledger through the Internet;
(b) providing a second designated key pair, comprising a second designated public key and a corresponding second designated private key, wherein the second designated public key also corresponds to a second designated public address associated with the underlying digital asset;
wherein the second designated private key is stored on a second computer system which is physically separated from the first computer system and is not operatively or physically connected to the distributed public transaction ledger or the Internet;
(c) providing first smart contract instructions associated with a first smart contract associated with a digital asset token associated with a first contract address associated with the blockchain associated with the underlying digital asset,
wherein the first smart contract instructions are saved as part of the blockchain for the underlying digital asset and include:
(1) first delegation instructions to delegate one or more first functions associated with the digital asset token to one or more delegated contract addresses associated with the blockchain associated with the underlying digital asset,
wherein the one or more delegated contract addresses are different from the first contract address, and
wherein a second contract address is designated as one of the one or more delegated contract addresses;
(2) first authorization instructions associated with the second designated key pair;
(d) providing second smart contract instructions associated with a second smart contract associated with the digital asset token associated with the second contract address associated with the blockchain associated with the underlying digital asset,
wherein the second smart contract instructions are saved as part of the blockchain for the underlying digital asset and include:
(1) print limiter token creation instructions indicating conditions under which tokens of the digital asset token are created;
(2) second authorization instructions to create tokens of the digital asset token,
wherein the first designated key pair is designated to authorize said second authorization instructions to create tokens of the digital asset token; and
(3) third authorization instructions with respect to token creation of the digital asset token;
wherein the third authorization instructions designate a first designated custodian address with respect to token creation of the digital asset token;
(e) providing third smart contract instructions associated with a first designated custodian contract associated with the digital asset token associated with a third contract address associated with the blockchain associated with the underlying digital asset,
wherein the third contract address is the first designated custodian contract address, and wherein the third smart contract instructions are saved as part of the blockchain for the underlying digital assets and include:
(1) fourth authorization instructions to authorize issuance of instructions to the second smart contract regarding token creation;
wherein the fourth authorization instructions designate the second designated key pair to authorize the fourth authorization instructions;
(f) providing fourth smart contract instructions associated with a fourth smart contract associated with the digital asset token associated with a fourth contract address associated with the blockchain associated with the underlying digital asset,
wherein the fourth contract address is one of the one or more delegated contract addresses and not: (i) the first contract address, (ii) the second contract address, or (iii) the third contract address,
wherein the fourth smart contract instructions are saved as part of the blockchain associated with the underlying digital assets and include:
(1) token creation instructions to create tokens of the digital asset tokens in accordance with conditions set forth by the print limiter token creation instructions; and
(2) second delegation instructions delegating data storage operations to at least a fifth contract address;
(g) providing fifth smart contract instructions associated with a fifth smart contract associated with the digital asset token associated with the fifth contract address associated with the blockchain associated with the underlying digital asset,
wherein the fifth contract address is one of one or more designated store contract addresses, and
wherein the fifth smart contract instructions are saved as part of the blockchain for the underlying digital assets and include:
(1) data storage instructions for transaction data related to the digital asset token,
wherein the transaction data comprises for all issued tokens of the digital asset token:
(A) respective public address information associated with the blockchain associated with the underlying digital asset; and
(B) corresponding respective token balance information associated with said respective public address information;
(2) fifth authorization instructions to modify the transaction data in response to a request from the fourth contract address;
(h) increasing the total supply of the digital asset tokens, by a digital asset token issuer system, from a first amount of the digital asset tokens to a second amount of the digital asset tokens, comprising the steps of:
(1) generating, by the digital asset token issuer system, a first transaction request including a first message comprising a first request to increase the total supply of the digital asset tokens to the second amount of digital asset tokens, to the fourth contract address, wherein the first transaction request is digitally signed by the first designated private key;
(2) sending, by the digital asset token issuer system via the blockchain network, the first transaction request from the first designated public address to the fourth contract address;
(3) sending, by the digital asset token issuer system via the blockchain network, the first transaction request from the fourth contract address to the second contract address;
wherein the second smart contract executes, via the plurality of geographically distributed computer systems in the peer-to-peer network with reference to the blockchain, the first transaction request to return a first unique lock identifier associated with the first transaction request;
(4) obtaining, by the digital asset token issuer system, the first unique lock identifier, based on reference to the blockchain;
(5) generating, by the digital asset token issuer system, a second transaction request including a second message comprising a second request to unlock the total supply of the digital asset tokens in accordance with the first request and including the first unique lock identifier,
wherein the second transaction request is digitally signed by the first designated private key;
(6) sending, by the digital asset token issuer system via the blockchain network, the second transaction request from the first designated public address to the third contract address,
wherein the third smart contract executes, via the plurality of geographically distributed computer systems in the peer-to-peer network with reference to the blockchain, the second transaction request to return a first unique request hash associated with the second transaction request;
(7) obtaining, by the digital asset token issuer system, the first unique request hash, based on reference to the blockchain;
(8) generating, by the digital asset token issuer system, a third transaction request to be digitally signed by at least the second designated private key including the first unique request hash;
(9) transferring, from the digital asset token issuer system to a first portable memory device, the third transaction request;
(10) transferring, from the first portable memory device to the second computer system, the third transaction request;
(11) digitally signing, by the second computer system, the third transaction request using the second designated private key to generate a third digitally signed transaction request;
(12) transferring, from the second computer system to a second portable memory device, the third digitally signed transaction request; and
(13) sending, from the second portable memory device using the digital asset token issuer system, via the blockchain network, the third digitally signed transaction request to the third contract address;
wherein the third smart contract, executes, via the plurality of geographically distributed computer systems in the peer-to-peer network with reference to the blockchain, the third digitally signed transaction request to validate the second request to unlock the total supply of digital asset tokens based on the third digitally signed transaction request and the first unique request hash and executes a first call to the second contract address, to increase the total supply of the digital asset tokens to the second amount of digital asset tokens,
wherein the second contract address returns the first call to the fourth contract address and the fourth smart contract executes, via the plurality of geographically distributed computer systems in the peer-to-peer network with reference to the blockchain, a second call to the fifth contract address to set the total supply of the digital asset tokens to the second amount of digital asset tokens,
wherein the fifth smart contract executes, via the plurality of geographically distributed computer systems in the peer-to-peer network with reference to the blockchain, the second call to set the total supply of the digital asset tokens to the second amount of digital asset tokens; and
(i) confirming, by the digital asset token issuer system, the total supply of digital asset tokens is set to the second amount of digital asset tokens based on reference to the blockchain.
2. The method of claim 1 , wherein the first designated key pair comprises an additional designated key pair comprising a first additional designated public key and a corresponding first additional designated private key, wherein the first additional designated public key also corresponds to a first additional designated public address associated with the underlying digital asset.
3. The method of claim 1 , wherein the second computer system is a hardware storage module.
4. The method of claim 1 , wherein the second designated key pair comprises an additional designated key pair comprising a second additional designated public key and a corresponding second additional designated private key, wherein the second additional designated public key also corresponds to a second additional designated public address associated with the underlying digital asset.
5. The method of claim 1 , wherein the second authorization instructions for the first designated key pair with respect to token creation of the digital asset token includes instructions limiting creation of digital asset tokens above a first threshold amount over a first period of time.
6. The method of claim 5 , wherein the fourth authorization instructions include instructions to permit creation of digital asset tokens above the first threshold during the first period of time,
wherein the fourth authorization instructions designate the second designated key pair to authorize the instructions to permit creation of digital asset tokens above the first threshold.
7. The method of claim 6 , wherein the third smart contract instructions further include:
(2) sixth authorization instructions to designate a seventh contract address as one of the one or more delegated contract addresses, wherein the seventh contract address is not the second contract address, and
wherein the second designated key pair is designated to authorize the sixth authorization instructions.
8. The method of claim 1 , wherein the fourth smart contract instructions further include:
(3) token transfer instructions related to transferring issued tokens of the digital asset token from a first designated contract address to a second designated contract address.
9. The method of claim 1 , wherein the fourth smart contract instructions further include:
(3) token destruction instructions related to destroying one or more issued token of the digital asset token.
10. The method of claim 1 , wherein the second smart contract instructions further include:
(4) token balance modification instructions related to modifying the total balance of tokens of the digital asset token assigned to a third designated address.
11. The method of claim 1 , wherein the fourth smart contract instructions further include:
(3) token transfer instructions related to transferring issued tokens of the digital asset token from a first designated contract address to a second designated contract address; and
(4) token destruction instructions related to destroying one or more issued tokens of the digital asset token.
12. The method of claim 1 , wherein the first transaction request includes first transaction fee information for miners associated with the plurality of geographically distributed computer systems in the peer-to-peer network to process the first transaction request.
13. The method of claim 1 , wherein the second transaction request includes second transaction fee information for miners associated with the plurality of geographically distributed computer systems in the peer-to-peer network to process the second transaction request.
14. The method of claim 1 , wherein the first portable memory device includes the second portable memory device.
15. The method of claim 1 , wherein the second smart contract instructions include sixth authorization instructions to modify the total token supply amount of the digital asset tokens.
16. The method of claim 1 , wherein the underlying digital asset is Neo.
17. The method of claim 1 , wherein the underlying digital asset is Ether.
18. The method of claim 1 , wherein the first designated private key is mathematically related to the first designated public key.
19. The method of claim 1 , wherein the first designated public address is the first designated public key.
20. The method of claim 1 , wherein the first designated public address is derived using a cryptographic hash function of the first designated public key.
21. The method of claim 20 , wherein the first designated public address is a result of the cryptographic hash function.
22. The method of claim 20 , wherein the first designated public address is at least part of a result of the cryptographic hash function.
23. The method of claim 1 , wherein the second designated private key is mathematically related to the second designated public key.
24. The method of claim 1 , wherein the second designated public address is the second designated public key.
25. The method of claim 1 , wherein the second designated public address is derived using a cryptographic hash function of the second designated public key.
26. The method of claim 25 , wherein the second designated public address is a result of the cryptographic hash function.
27. The method of claim 25 , wherein the second designated public address is at least part of a result of the cryptographic hash.