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Microsoft Receives a US Patent for a Service for Creating Cryptocurrency Tokens

Microsoft has been granted a patent in the United States for software that it claims may assist users in developing blockchain applications by enabling the creation of crypto tokens for various distributed ledgers simpler and more efficient.

  • Due to a lack of uniformity across various blockchains, generating and maintaining tokens is presently "complex and burdensome," according to the patent.
  • The patent outlines a ledger-agnostic method for assisting users in creating tokens and maintaining them across several networks.
  • The system provides templates with different characteristics and control functionalities in response to a user's request. Those would be determined by the kind of token needed, which might represent a digital or physical asset, for example. The system generates the token on the specified networks once the user selects the appropriate template.
  • Developers don't have to worry about token-specific code to interact with them since the system offers a standard interface for handling tokens.

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