Escrowing system for cross-blockchain third-party settlement and method thereof
US11538002B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 13, 2020 |
| Grant date | Dec 27, 2022 |
| Priority date | — |
| Expiry date | Aug 12, 2041 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L9/50
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An escrowing system for cross-blockchain third-party settlement and a method thereof are disclosed. In the escrowing system, an initiating-end host and an accepting-end host escrow digital assets in smart contracts in different blockchains, respectively, and based on a result of delivery of trading entities outside the blockchain, the digital assets escrowed by the smart contracts are transferred or returned, and the arbitration host is permitted to perform trading arbitration, without managing the trading entities, to determine whether the delivery outside the blockchain succeeds. When the arbitration host determines that the delivery outside the blockchain succeeds, the arbitration host can transfer the digital assets escrowed by the initiating-end host and the accepting-end host without consent of the initiating-end host, so as to achieve a technical effect of improving reliability of escrow.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.