Two-tier blockchain timestamped notarization with incremental security

TL;DR

This paper introduces a two-tier blockchain timestamped notarization system that balances immediacy, trust, and security, providing incremental security levels with reduced costs compared to existing solutions.

Contribution

It proposes a novel three-step evidence receipt process with incremental security and cost efficiency in blockchain-based digital notarization.

Findings

Immediate evidence with high trust required

Delayed evidence with reduced trust needed

Secure evidence within minutes via public blockchain

Abstract

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.