Microsoft receives patent for crypto token creation software
Microsoft receives patent for crypto token creation software By Editor DiarioBitcoin

Microsoft

receives a U.S. patent to make a crypto token creation service.

***

Microsoft received a U.S. patent

from the U.S.

Patent Office, Uspto, for software that it says can help users develop Blockchain

applications by making it easier and more efficient to create cryptographic tokens for different distributed ledgers.

According to the patent, creating and managing tokens is currently “difficult and cumbersome” due to a lack of standardization across different blockchains. As such, Microsoft’

s patent describes a ledger-independent system to help users create tokens and manage them across different networks.

Upon receiving a request from a user, the system offers templates with various attributes and control functions. Those would depend on the type of token required, representing, for example, a digital or physical asset. Once the user has selected the desired template, the system creates the token on the designated networks.

In addition, the system also provides a common interface for managing the tokens, so developers do not have to worry about token-specific code to interact with them.

More from the patent

Likewise, we transcribe verbatim one of the parts of Microsoft’

s patent:

“Techniques for implementing a ledger-independent token service are provided. According to one set of embodiments, a computer system running the service may receive, from a user, a request to create a token in a distributed ledger network. The computer system may further provide the user with one or more token templates, wherein each template corresponds to a type of physical or digital asset and defines a set of one or more attributes and one or more control functions associated with the type. The computer system may receive from the user a selection of a token template in the one or more token templates and create the token in the distributed accounting network, wherein the created token includes the set of one or more attributes and one or more control functions defined in the selected token template.”

Likewise, Microsoft does not stop at creating new technology, also created for the crypto ecosystem. Just this month, we told that the company was looking to develop anti-piracy measures on

Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University. The new system, dubbed “Argus,” will run on a public blockchain and allow hacking whistleblowers to remain anonymous. o

In April, Microsoft announced a partnership with Intel to implement solutions that allow users to protect themselves against malware used for cryptojacking.

Sources: Uspto, Coindesk,

Version by DiarioBitcoin

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