Microsoft wins US patent for ‘ledger-independent token service’
Microsoft wins U.s.a. patent for 'ledger-independent token service'
Microsoft'due south new device is designed to let developers to write code for managing tokens in a manner that is blockchain doubter.
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American tech giant Microsoft has won a blockchain-related patent for techniques for implementing a cantankerous-chain token direction system.
The U.s. Patent and Trademark Office (USPTO) granted the patent to Microsoft's subsidiary, Microsoft Engineering Licensing, on Tuesday.
Filed in February 2022, the patent describes a "ledger-contained token service," or a software service enabling individuals and organizations to create and manage tokens across multiple distributed ledger networks and platforms.
Examples of such platforms in the patent filing included major blockchain platform Ethereum, IBM-backed Hyperledger Fabric, JPMorgan's enterprise blockchain platform Quorum, R3 Corda and Concatenation Core.
The described figurer system aims to provide the user with i or more "token templates," with each of those corresponding to a type of physical or digital nugget. The ledger-independent token service is designed to human action every bit a single interface for managing the lifecycle of tokens across multiple blockchains, allowing developers to write code for transacting and managing tokens "in a mode that is agnostic of the underlying distributed ledger networks."
Related: Microsoft wants to use Ethereum blockchain to fight piracy
Co-ordinate to the patent'south authors, the described system "makes development more than efficient for emerging business use-cases that involve crossing ledger boundaries."
Microsoft has been actively involved in blockchain-related development in recent years, filing a broad number of patent applications related to the cryptocurrency industry. Terminal yr, the tech giant filed a patent for a cryptocurrency system enabling individuals to mine crypto using their body activity data in an attempt to remove the need for specialized mining devices.
Source: https://cointelegraph.com/news/microsoft-wins-us-patent-for-ledger-independent-token-service
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