20240015035. SYSTEMS AND METHODS FOR MODIFYING PENDING BLOCKCHAIN OPERATIONS simplified abstract (Coinbase, Inc.)

SYSTEMS AND METHODS FOR MODIFYING PENDING BLOCKCHAIN OPERATIONS

Organization Name

Coinbase, Inc.

Inventor(s)

Spencer Stock of Oakland CA (US)

Mansi Prakash of Oakland CA (US)

Sid Coelho-prabhu of Oakland CA (US)

Kevin Shay of Oakland CA (US)

SYSTEMS AND METHODS FOR MODIFYING PENDING BLOCKCHAIN OPERATIONS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240015035 titled 'SYSTEMS AND METHODS FOR MODIFYING PENDING BLOCKCHAIN OPERATIONS

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. After the submission, the architecture collapses the parallel 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 or second operation type.
• After the blockchain operation is submitted, the architecture collapses the parallel pathways into a single logical pathway.
• The innovation enables efficient processing and submission of blockchain operations.

Potential Applications:

• Financial transactions: The technology can be used for processing and submitting blockchain-based financial transactions, such as cryptocurrency transfers.
• Supply chain management: It can be applied to track and verify the authenticity of products and their movement through the supply chain.
• Smart contracts: The architecture can be used to process and submit blockchain-based smart contracts, automating contract execution and enforcement.

Problems Solved:

• Streamlined processing: The technology solves the problem of efficiently processing and submitting blockchain operations by maintaining separate logic pathways and collapsing them after submission.
• Scalability: By collapsing parallel pathways, the architecture improves scalability by reducing the complexity of processing multiple operation types.

Benefits:

• Efficiency: The technology improves the efficiency of processing and submitting blockchain operations by maintaining separate logic pathways and collapsing them after submission.
• Scalability: By reducing complexity, the architecture enhances the scalability of blockchain networks.
• Automation: The innovation enables the automation of various processes, such as financial transactions and smart contract execution, through the use of blockchain technology.

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.