Microsoft Granted Patent For Cross-chain Token Management System

Microsoft, the United States-based technology giant has won a blockchain-related patent for techniques for putting into practice a cross-chain token management system.

The U.S. Patent and Trademark Office (USPTO) recently granted the patent to Microsoft’s subsidiary, Microsoft Technology Licensing.

Filed in the month of February in 2019, the patent elucidates a “ledger-independent token service,” or a software service permitting individuals and organizations to generate and manage cryptocurrency across several distributed ledger networks and platforms.

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

As per the patent’s authors, the system is described as one which “makes development more efficient for emerging business use-cases that involve crossing ledger boundaries.”

Microsoft has been effectively involved in blockchain-related development in the past couple of years, filing an extensive number of patent applications linked to the digital asset domain. Last year, the technology giant filed a patent for a virtual asset system enabling individuals to mine virtual assets using their body activity data in an attempt to take out the requirement for specialized mining devices.