20240015034. SYSTEMS AND METHODS FOR PROCESSING BLOCKCHAIN OPERATIONS FEATURING A PLURALITY OF BLOCKCHAIN OPERATION TYPES simplified abstract (Coinbase, Inc.)
SYSTEMS AND METHODS FOR PROCESSING BLOCKCHAIN OPERATIONS FEATURING A PLURALITY OF BLOCKCHAIN OPERATION TYPES
Organization Name
Inventor(s)
Spencer Stock of Oakland CA (US)
Mansi Prakash of Oakland CA (US)
Sid Coelho-prabhu of Oakland CA (US)
SYSTEMS AND METHODS FOR PROCESSING BLOCKCHAIN OPERATIONS FEATURING A PLURALITY OF BLOCKCHAIN OPERATION TYPES - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240015034 titled 'SYSTEMS AND METHODS FOR PROCESSING BLOCKCHAIN OPERATIONS FEATURING A PLURALITY OF BLOCKCHAIN OPERATION TYPES
Simplified Explanation
The patent application describes a processing architecture that maintains separate logic pathways for different types of operations until a blockchain operation is submitted to the blockchain network. After the submission, the architecture collapses the parallel logic pathways into a single logical pathway for both types of operations.
- The architecture maintains separate logic pathways for different types of operations.
- It allows for the submission of blockchain operations using either the first operation type or the second operation type.
- After the blockchain operation is submitted, the architecture collapses the parallel logic pathways into a single logical pathway.
- The innovation enables efficient processing and submission of blockchain operations.
- It ensures that different types of operations are handled separately until they are ready to be submitted to the blockchain network.
- The architecture simplifies the processing and management of blockchain operations.
Potential applications of this technology:
- Financial services: The technology can be used in banking and financial institutions to process and submit blockchain operations related to transactions, contracts, and settlements.
- Supply chain management: It can be applied in supply chain systems to handle blockchain operations related to tracking and verifying the movement of goods and ensuring transparency.
- Healthcare: The technology can be utilized in healthcare systems to process and submit blockchain operations related to patient records, medical research, and drug supply chain management.
Problems solved by this technology:
- Efficient processing: The architecture allows for the separate handling of different types of operations, improving the efficiency of processing blockchain operations.
- Simplified management: By collapsing the parallel logic pathways into a single logical pathway, the technology simplifies the management of blockchain operations.
- Streamlined submission: The innovation enables the streamlined submission of blockchain operations to the blockchain network, reducing delays and improving overall system performance.
Benefits of this technology:
- Improved efficiency: The separate logic pathways and streamlined submission process enhance the efficiency of processing blockchain operations.
- Enhanced security: By maintaining separate logic pathways, the technology ensures the security and integrity of different types of operations until they are submitted to the blockchain network.
- Simplified management: The collapse of parallel logic pathways simplifies the management and maintenance of the processing architecture.
Original Abstract Submitted
methods and systems for a processing architecture that maintains a separate logic pathway corresponding to a first operation type and a second operation type, until a blockchain operation is submitted to the blockchain network using either the first operation type or a second operation type. following submission of the blockchain operation to the blockchain network, the architecture collapses the parallel logic pathways to a single logical pathway for both types.
