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Microsoft Is Awarded US Patent for Crypto Token-Creation Service
The patent describes a ledger-independent system for helping users to create and manage tokens across different networks.
Microsoft has been awarded a U.S. patent for software it says can help users develop blockchain applications by making it easier and more efficient to create crypto tokens for different distributed ledgers.
STORY CONTINUES BELOW
- According to the patent, creating and managing tokens is currently “difficult and cumbersome” due to the lack of standardization across different blockchains.
- Microsoft’s patent describes a ledger-independent system for helping users to create tokens, and for managing them across different networks.
- On 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.
- The system also provides a common interface for managing the tokens, so developers don’t have to worry about token-specific code to interact with them.
See also: Microsoft Files Patent Application for Crypto Mining System Powered by Human Activity
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
