Notary Service on Metaverse Blockchain

Imagine you have an invention that you want to protect some piece of art, music… and you would like to be able to prove that it existed at some point in time without disclosing it to anyone.

Blockchain technology enables you to easily solve the problem very efficiently. All you need is to create a hash of the object or a scan or photo of the object and write this hash as a message to a transaction. If you later want to prove that the object already existed at the time the transaction was written to the chain you just have to provide the transaction hash and the original data to reconstruct the hash. To make it even harder to brute force attack the object from the hash you can also add a random salt to the hash calculation and save this salt together with your data.

Being able to reconstruct the hash and verify the transaction message independently on the Blockchain, you can prove the existence of the object at that point in time. Also, if you want you can prove that you are in control of the private key to the source address of the transaction which should usually be a good indication that it was you who had the object (its data).

You can also use other Blockchains to store the hash but given the current mining fee and ETP exchange rate you can store and protect your hash on the Metaverse Blockchain for just 0.01ct US compared to a very high mining fee for Bitcoin transactions. Using MetaverseJS you can easily write messages to the Metaverse Blockchain. Please see instruction on how to create a transaction using MetaverseJS in this article.

Now you just need to create or import a wallet using MetaverseJS and sign and broadcast the transaction. The change output id (in this case 1) of the transaction and the transaction hash you can store as the next UTXO (unspent transaction outputs) that you can use for the next transaction input.