August 26, 2021

Microsoft patents cross-platform token management system

Microsoft patents cross-platform token management system

Microsoft has patented a method for implementing a cross-platform token management system. According to an application to the USPTO, it will allow developers to create smart contracts that are not tied to a specific blockchain.

The patent is issued by a subsidiary of technology giant Microsoft Technology Licensing. The application, which was sent to the office back in February 2019, describes a software service that allows individuals and organizations to create tokens in distributed ledger technology (DLT)-based networks and platforms.

Microsoft cites Ethereum as an example of such systems, as well as the corporate blockchains Hyperledger Fabric, Quorum and R3 Corda.

The service offered by the corporation will provide users with several "token models" - each corresponding to a specific type of physical or digital asset. Depending on the model chosen, the attributes of the tokens will be determined and subsequently released on a particular blockchain.

"The registry-independent service acts as a single, unified interface for managing the token lifecycle across several different DLT systems. Application developers will be able to write code for transactions and manage tokens in a way that is independent of the underlying networks or platforms on which they are deployed," the application said.

As a reminder, Microsoft will close its cloud-based blockchain platform Azure Blockchain Service in September. As an alternative, the corporation suggested that customers use Quorum Blockchain Service from ConsenSys, with which it cooperates.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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