Cryptographic currency exchange
US10878389B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 9, 2019 |
| Grant date | Dec 29, 2020 |
| Priority date | — |
| Expiry date | Jun 3, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for transacting cryptographic currency is described. An exchange database associated with a number of buyers and sellers is maintained at a host computer system. Cryptographic currency is received from one or more of the sellers at an exchange wallet associated with the exchange database. A match is created within the exchange database, including a buy offer for the cryptographic currency from a buyer and a sell offer for the cryptographic currency from a seller. A cryptographic currency withdrawal request is received from the buyer, and in response, the host computer system determines that a total amount of cryptographic currency represented in the exchange database matches a total amount of the cryptographic currency within the exchange wallet, transfers the cryptographic currency to the buyer's wallet, and updates the exchange database by deducting a first value of the cryptographic currency that is transferred to the buyer's wallet.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.