Wednesday, January 26, 2022

Microsoft wins US patent for ‘ledger-independent token service’

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American tech big Microsoft has received a blockchain-related patent for methods for implementing a cross-chain token administration system.

The US Patent and Trademark Workplace (USPTO) granted the patent to Microsoft’s subsidiary, Microsoft Expertise Licensing, on Tuesday.

Filed in February 2019, the patent describes a “ledger-independent token service,” or a software program service enabling people and organizations to create and handle tokens throughout a number of distributed ledger networks and platforms. 

Examples of such platforms within the patent submitting included main blockchain platform Ethereum, IBM-backed Hyperledger Material, JPMorgan’s enterprise blockchain platform Quorum, R3 Corda and Chain Core.

The described laptop system goals to supply the person with a number of “token templates,” with every of these equivalent to a kind of bodily or digital asset. The ledger-independent token service is designed to behave as a single interface for managing the lifecycle of tokens throughout a number of blockchains, permitting builders to write down code for transacting and managing tokens “in a way that’s agnostic of the underlying distributed ledger networks.” 

Associated: Microsoft wants to use Ethereum blockchain to fight piracy

Based on the patent’s authors, the described system “makes growth extra environment friendly for rising enterprise use-cases that contain crossing ledger boundaries.”

Microsoft has been actively concerned in blockchain-related growth in recent times, submitting a large variety of patent purposes associated to the cryptocurrency business. Final yr, the tech big filed a patent for a cryptocurrency system enabling people to mine crypto utilizing their physique exercise knowledge in an effort to take away the necessity for specialised mining gadgets.