In order to allow developers to write code for managing tokens in a manner that is not dependent on a blockchain, Microsoft has created a new device.
Microsoft, the American technology behemoth, has been awarded a patent for blockchain-related techniques for implementing a cross-chain token management system.
The patent was granted to Microsoft’s subsidiary Microsoft Technology Licensing on August 24 by the United States Patent and Trademark Office (USPTO), which is a government agency in the United States.
The patent, which was filed in February 2019, describes a “ledger-independent token service,” which is a software service that allows individuals and organizations to create and manage tokens across a variety of distributed ledger networks and platforms, rather than just one.
A number of blockchain platforms were named in the patent filing as examples, including the popular Ethereum platform, the IBM-backed Hyperledger Fabric, JPMorgan’s enterprise blockchain platform Quorum, R3 Corda, and Chain Core.
The computer system described here is intended to provide the user with one or more “token templates,” with each of those representing a different type of physical or digital asset to choose from.
Designed to act as a single interface for managing the lifecycle of tokens across multiple blockchains, the ledger-independent token service allows developers to write code for transacting and managing tokens “in a manner that is agnostic of the underlying distributed ledger networks,” according to the company.
It is claimed by the patent’s authors that the described system “improves the efficiency of development for emerging business use-cases that involve cross-ledger collaboration.”
The blockchain technology has been a focus of Microsoft’s recent efforts, with the company filing a large number of patent applications related to the cryptocurrency industry in recent years.
According to a patent filed by the tech giant last year, a cryptocurrency system that would allow individuals to mine cryptocurrency using data from their body activity would be developed in order to eliminate the need for specialized mining devices.
