Microsoft Has Patented a Token Interoperability Tool

Key Takeaways

  • Microsoft has been granted a patent that describes a token creation service geared toward enterprise chains.
  • The service would enable builders to create cross-platform property.
  • Microsoft has not explicitly said that it plans to show the patent into an precise services or products.

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Microsoft has patented a cryptocurrency software that may enable builders to create ledger-independent tokens in a easy approach.

Microsoft Patents Token Creation Service

Throughout the patent submitting, Microsoft describes a technique for making a “ledger-independent token service.”

The service offers varied token templates, every of which represents a “sort of bodily or digital asset.” Every template additionally units controls and features for the token sort in query.

Within the patent, Microsoft notes that there’s at present a “lack of standardization” for distributed ledger tokens, particularly in conditions that contain cross-ledger transactions and token reuse. Against this, the strategy described within the patent would enable builders to jot down code for tokens on completely different platforms all of sudden.

The patent appears to primarily be geared toward builders utilizing enterprise platforms relatively than public blockchains. The patent mentions notable initiatives in that class together with Hyperledger Cloth, Quorum, R3 Corda, and Chain Core.

Will It Turn out to be a Actual Product?

It ought to be famous that not all patents flip into precise merchandise, that means that Microsoft’s most up-to-date utility won’t essentially evolve into an actual service that’s publicly obtainable.

Nevertheless, Microsoft has traditionally expressed curiosity in interoperability. In 2019, it introduced its involvement within the Token Taxonomy Initiative, one other token standardization mission. It has additionally joined enterprise blockchain initiatives resembling Hyperledger and the Enterprise Ethereum Alliance.

That historical past suggests Microsoft might actively be engaged on a product, though the corporate has not said this explicitly.

Disclaimer: On the time of penning this creator held lower than $75 of Bitcoin, Ethereum, and altcoins.

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By Xnode24

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