Microsoft Is Awarded US Patent for Crypto Token-Creation Service

The patent describes a ledger-independent system for helping users to create and manage tokens across different networks.

Aug 26, 2021 at 10:26 a.m. UTC

Updated Sep 14, 2021 at 1:45 p.m. UTC

Microsoft office Redmond — Microsoft office, Redmond.

Microsoft has been awarded a U.S. patent for software it says can help users develop blockchain applications by making it easier and more efficient to create crypto tokens for different distributed ledgers.

According to the patent, creating and managing tokens is currently “difficult and cumbersome” due to the lack of standardization across different blockchains.
Microsoft’s patent describes a ledger-independent system for helping users to create tokens, and for managing them across different networks.
On receiving a request from a user, the system offers templates with various attributes and control functions. Those would depend on the type of token required, representing, for example, a digital or physical asset. Once the user has selected the desired template, the system creates the token on the designated networks.
The system also provides a common interface for managing the tokens, so developers don’t have to worry about token-specific code to interact with them.

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