Tech Giant Microsoft Granted US Patent For Crypto Token-Creation Service

American tech giant Microsoft has won a blockchain-related patent for techniques for implementing a cross-chain token management system.

The license was granted to Microsoft's subsidiary, Microsoft Technology Licensing, on Tuesday.

https://twitter.com/Blockworks\_/status/1430843452707704835?s=20

Microsoft’s patent describes a ledger-independent system for helping users to create tokens, and for managing them across different networks.

The ledger-independent token service is designed to act as a single interface for managing the lifecycle of tokens across multiple blockchains. It allows developers to write code for transacting and managing tokens “in a manner that is agnostic of the underlying distributed ledger networks.”

Some of the platforms in the patent filing included major blockchain platform Ethereum, IBM-backed Hyperledger Fabric, JPMorgan’s enterprise blockchain platform Quorum, R3 Corda and Chain Core.

Microsoft actively involved in blockchain-related developments

Microsoft has been actively involved in blockchain-related developments in recent years. Last year, it filed a patent for a cryptocurrency system enabling individuals to mine crypto using their body activity data in an effort to remove the need for specialized mining devices.

The patent details a method of crypto mining which exploits data associated with a user’s body activity to exercise a new form of proof-of-work. 

Featured Image Credit: Blockchain News

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