Using an internal ledger with blockchain transactions
Systems, methods, and computer-readable media disclosed herein relate to reducing computation and computing resources for certain blockchain related transactions. Specifically, software algorithms and architecture allow some transactions to avoid the need for recordation on a blockchain, which can be computationally expensive both for a requesting device and for various nodes on the blockchain. Thus, a computer system may receive indications of incoming transactions transferring digital assets to particular user accounts, and in response to requests from user accounts, the computer system facilitates one or more internal transactions between those accounts. In response to a request from a particular internal user account, the computer system may perform an outgoing transaction transferring one or more digital assets to an external user account from one or more internal user accounts. The incoming transactions and outgoing transaction are recorded on the blockchain, but the internal transactions are recorded on an internal ledger rather than the blockchain, saving computational power and improving computer operations.
1. A system, comprising:
a non-transitory memory; and
one or more hardware processors coupled to the non-transitory memory and configured to read instructions from the non-transitory memory to cause the system to perform operations comprising:
receiving an indication of an incoming transaction transferring a digital asset to a first user account of a transaction service, the incoming transaction being recorded on a blockchain external to the transaction service;
in response to a request associated with the first user account, transferring, in an internal transaction, ownership of a portion of the digital asset from the first user account to a second user account, wherein the first and second user accounts are used on the external blockchain, and wherein the transferring is recorded using an internal ledger of the transaction service; and
causing presentation of user interfaces to the owners of the first and second user accounts reflecting the transfer of the portion of the digital asset indicated in the internal ledger without recording the internal transaction on the blockchain, wherein the blockchain indicates that the portion of the digital asset belongs to the first user account and not the second user account, and the internal ledger indicates that the portion of the digital asset is assigned to the second user account and not the first user account.
2. The system of claim 1 , wherein the blockchain includes a record of the incoming transaction, the indication of the incoming transaction including an indication of a public key of a cryptographic key pair associated with the first user account.
3. The system of claim 1 , wherein the request associated with the first user account includes an account indicator linked to the second user account, and wherein the account indicator is not linked to the blockchain.
4. The system of claim 1 , wherein the operations further comprise:
storing, at the system of the transaction service, private keys of cryptographic key pairs for the first and second user accounts, wherein the owners of the first and second user accounts cannot access the private keys.
5. The system of claim 4 , wherein the operations further comprise:
in response to a request associated with the second internal user account, sending an indicator of an outgoing transaction transferring ownership of the portion of the digital asset to a recipient external account outside of the transaction service.
6. The system of claim 5 , wherein sending the indicator of an outgoing transaction further comprises:
causing recordation of the outgoing transaction on the blockchain as an indicator of the first user account transferring the portion of the digital asset to an indicator of the recipient external account.
7. The system of claim 6 , wherein sending the indicator of an outgoing transaction further comprises:
performing a cryptographic operation using a private key of a cryptographic key pair of the first user account to cause recordation of the outgoing transaction on the blockchain.
8. The system of claim 1 , wherein the user interface for an owner of a user account presents digital asset ownership based on the internal ledger.
9. A method, comprising:
receiving, at a computer system, an indication of an incoming transaction transferring a digital asset to a first user account of a transaction service, the incoming transaction being recorded on a blockchain external to the transaction service;
in response to a request associated with the first user account, transferring, by the computer system in an internal transaction, ownership of at least a portion of the digital asset from the first user account to a second user account, wherein the first and second user accounts are used on the external blockchain, and wherein the transferring is recorded using an internal ledger of the transaction service;
causing, by the computer system, presentation of a user interface for the first user account indicating a transfer of ownership of the portion of the digital asset to the second user account based on the internal ledger without recording the internal transaction on the blockchain, wherein the blockchain indicates that the portion of the digital asset belongs to the first user account and not the second user account; and
causing, by the computer system, recordation of the transfer of ownership of the portion of the digital asset in response to receiving a request from the second user account to perform an outgoing transaction.
10. The method of claim 9 , wherein the blockchain includes a record of the incoming transaction, the indication of the incoming transaction including an indication of a public key of a cryptographic key pair associated with the first user account.
11. The method of claim 9 , wherein the request associated with the first user account includes an account indicator linked to the second user account, and wherein the account indicator is not linked to the blockchain.
12. The method of claim 9 , further comprising:
storing, at the computer system of the transaction service, private keys of cryptographic key pairs for the first and second user accounts of the transaction service, wherein owners of the first and second user accounts cannot access the private keys.
13. The method of claim 12 , further comprising:
in response to a request associated with the second user account, sending, by the computer system, an indicator of an outgoing transaction transferring ownership of the portion of the digital asset to a recipient external account outside of the transaction service.
14. The method of claim 13 , wherein causing recordation of the transfer of ownership further comprises:
performing a cryptographic operation using a private key of a cryptographic key pair of the first user account to cause recordation of the outgoing transaction on the blockchain.
15. A non-transitory machine-readable medium having instructions stored thereon that are executed by a computer system to perform operations comprising:
receiving an indication of an incoming transaction transferring a digital asset to a first user account of a transaction service, the incoming transaction being recorded on a blockchain external to the transaction service;
in response to a request associated with the first user account, transferring, in an internal transaction, ownership of at least a portion of the digital asset from the first user account to a second user account, wherein the first and second user accounts are used on the external blockchain, and wherein the transferring is recorded using an internal ledger of the transaction service;
causing presentation of a user interface for the first user account indicating a transfer of ownership of the portion of the digital asset to the second user account based on the internal ledger without recording the internal transaction on the blockchain, wherein the blockchain indicates that the portion of the digital asset belongs to the first user account and not the second user account; and
causing recordation of the transfer of ownership of the portion of the digital asset in response to receiving a request from the second user account to perform an outgoing transaction.
16. The non-transitory machine-readable medium of claim 15 , wherein the blockchain includes a record of the incoming transaction, the indication of the incoming transaction including an indication of a public key of a cryptographic key pair associated with the first user account.
17. The non-transitory machine-readable medium of claim 15 , wherein the request associated with the first user account includes an account indicator linked to the second user account, and wherein the account indicator is not linked to the blockchain.
18. The non-transitory machine-readable medium of claim 15 , wherein the operations further comprise:
storing, at the computer system of the transaction service, private keys of cryptographic key pairs for user accounts of the transaction service, wherein owners of the user accounts cannot access the private keys.
19. The non-transitory machine-readable medium of claim 18 , wherein the operations further comprise:
in response to a request associated with the second user account, sending, by the computer system, an indicator of an outgoing transaction transferring ownership of the portion of the digital asset to a recipient external account outside of the transaction service.
20. The non-transitory machine-readable medium of claim 19 , wherein causing recordation of the transfer of ownership further comprises:
performing a cryptographic operation using a private key of a cryptographic key pair of the first user account to cause recordation of the outgoing transaction on the blockchain.