Two-tier blockchain timestamped notarization with incremental security
This addresses the problem of secure and cost-effective digital notarization for blockchain service clients, though it appears incremental as it builds on existing blockchain-based solutions.
The paper tackles digital notarization by proposing a two-tier blockchain design with incremental security, where evidence is delivered in three steps: immediate with high trust, seconds later with less trust, and minutes later via public blockchain, reducing costs compared to current solutions.
Digital notarization is one of the most promising services offered by modern blockchain-based solutions. We present a digital notary design with incremental security and cost reduced with respect to current solutions. A client of the service receives evidence in three steps. In the first step, evidence is received almost immediately, but a lot of trust is required. In the second step, less trust is required, but evidence is received seconds later. Finally, in the third step evidence is received within minutes via a public blockchain.