Invention Grant
- Patent Title: Method and system for exchange of value or tokens between blockchain networks
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Application No.: US16744231Application Date: 2020-01-16
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Publication No.: US11861609B2Publication Date: 2024-01-02
- Inventor: Vijay Madisetti , Arshdeep Bahga
- Applicant: Vijay Madisetti
- Applicant Address: US GA Johns Creek
- Assignee: Vijay Madisetti
- Current Assignee: Vijay Madisetti
- Current Assignee Address: US GA Alpharetta
- Agency: Widerman Malek, PL
- Agent Daniel C. Pierron
- The original application number of the division: US16396845 2019.04.29
- Main IPC: G06Q20/38
- IPC: G06Q20/38 ; H04L9/00 ; H04L9/32 ; G06Q20/06 ; H04L9/40

Abstract:
A blockchain value transfer method including receiving a plurality of transaction requests, performing a balance check procedure on each transaction, determining a net transaction for each user account address for each transaction in an aggregate transaction record, and executing the net transaction for each user account address, including withdrawing first in-network tokens from user account addresses with a net debit and exchanging first in-network tokens for first tethered tokens, recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to a tethered token exchange, exchanging the first tethered tokens for second tethered tokens, exchanging the second tethered tokens for second in-network tokens, depositing the second in-network tokens to the receiving user account address, and depositing the remaining first in-network tokens from the debited first in-network tokens to user account addresses on the first blockchain network with a net credit.
Public/Granted literature
- US20200151716A1 Method and System for Exchange of Value or Tokens Between Blockchain Networks Public/Granted day:2020-05-14
Information query