Patent · US Active

Method and system for prevention of lost currency in blockchain networks to missing wallets

US11373171B2 · kind B2 · utility

0Cited by

0References

16Claims

0Family size

Assignee

MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

Jaipal Singh Kumawat · Gothan, IN
Shubham Kumar · Chakradharpur, IN
Apoorva Dixit · Roorkee, IN
Aditya Koduri · Bhangrola, IN
Chandan Garg · Jabalpur, IN

Key dates

Filing date	Jan 22, 2020
Grant date	Jun 28, 2022
Priority date	—
Expiry date	Jan 22, 2041

Classification

Technology area (CPC H)Electricity
CPC primaryH04L2209/56
WIPO fieldIT methods for management
WIPO sectorElectrical engineering

Abstract

A method for ensuring precedence for the processing of a blockchain transaction to prevent loss of cryptographic currency includes receiving a new blockchain transaction by a blockchain node in a blockchain network, confirming the new blockchain transaction including identifying a precedence transaction that was previously conducted and stored in the blockchain that involves both blockchain wallets included in the new blockchain transaction, including the new blockchain transaction in a new block that is generated, and distributing the new block to additional nodes in the blockchain network for confirmation and addition to the blockchain.

Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.