American tech large Microsoft has received a blockchain-related patent for strategies for implementing a cross-chain token administration system.
The USA Patent and Trademark Workplace (USPTO), the company granted the patent to Microsoft’s subsidiary Microsoft Expertise Licensing on Aug. 24.
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 pc system goals to supply the consumer with a number of “token templates,” with every of these akin 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.”
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In line with 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 large 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 units.
cointelegraph.com