American tech big Microsoft has gained a blockchain-related patent for methods 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 Cloth, JPMorgan’s enterprise blockchain platform Quorum, R3 Corda and Chain Core.
The described pc system goals to offer the person with a number of “token templates,” with every of these similar 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 put in writing code for transacting and managing tokens “ in a way that’s agnostic of the underlying distributed ledger networks.”
In keeping with the patent’s authors, the described system “makes improvement extra environment friendly for rising enterprise use-cases that contain crossing ledger boundaries.”
Microsoft has been actively concerned in blockchain-related improvement lately, submitting a large variety of patent functions associated to the cryptocurrency trade. 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 units.