Temporary consensus subnetwork in a distributed network for payment processing

US11861569B2 · kind B2 · utility

Assignee

• RIPPLE LUXEMBOURG S.A. · LU

Inventors

• Stefan Thomas · San Francisco, US
• Robert Way · Spring, US

Key dates

• Filing date: Jul 11, 2022
• Grant date: Jan 2, 2024
• Expiry date: Jul 11, 2042

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L9/50
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In a method, computer readable medium, or system for making a payment transaction between a payor having an associated payor computer with a ledger storage for the payor and a payee having an associated payee computer with a ledger storage for the payee in a consensus payment network having a plurality of nodes each comprising a respective computer with ledger storage and relying on consensus determinations, an initiator is provided for making the payment transaction between the payor and the payee, the initiator being either the payor, the payee, or an intermediary having an associated intermediary computer. The respective initiator computer creates a temporary payment transaction consensus subnetwork comprising a set of validation nodes acceptable to both the payor and the payee, the set of validation nodes comprising fewer than all of said plurality of nodes in the payment network. The initiator with the respective client computer processes the payment transaction via the consensus payment network from the payor to the payee based on a determination of consensus by the consensus network.