Recently, tech giant Microsoft was awarded a United States patent for implementing a ledger-independent token service.
According to the grant issued by USPTO, the patent will allow Microsoft to develop a system that can facilitate the creation and management of tokens across multiple blockchain networks.
The grant says that currently creating and managing tokens is difficult due to the lack of standardization across different blockchains. The patent describes a ledger-independent system that will help users to create tokens, and for managing them across different networks.
The patent defines the system where on receiving a request from a user, the system will provide templates with various attributes and control functions, depending on the type of token required. And, when the user will have selected the desired template, the system creates the token on the designated networks.
The ledger independent token service will provide the common interface for transacting with all tokens across all ledger networks and platforms made using the service.
"the ledger-independent token service can empower individuals and organizations to build applications and business logic involving tokens more easily and efficiently than before," says the document.
The grantee listed for this patent is Microsoft Technology Licensing, LLC. And, the invention is credited to Gregory Philip Cignavitch, Supriya Madhuram, Nayana Singh Patel, and John Marley Gray.
Well, interoperability of Blockchains is the need of the hour in the crypto space, and a number of crypto projects are laboriously involved in building solutions on this prow.
Interestingly, the tech giant had also filed a patent application that details a human-powered crypto mining project by collecting data as people exercise and watch ads.