20240029509. DISTRIBUTED LEDGER BASED DISTRIBUTED GAMING SYSTEM simplified abstract (SPOONREAD INC.)

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DISTRIBUTED LEDGER BASED DISTRIBUTED GAMING SYSTEM

Organization Name

SPOONREAD INC.

Inventor(s)

Bart Alan Meltzer of Corralitos CA (US)

Mayank V. Vadodaria of Cupertino CA (US)

DISTRIBUTED LEDGER BASED DISTRIBUTED GAMING SYSTEM - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240029509 titled 'DISTRIBUTED LEDGER BASED DISTRIBUTED GAMING SYSTEM

Simplified Explanation

The technology described in the patent application is a distributed gaming system for a gambling casino. It involves a server-side node that handles transactions, such as selling and redeeming chips, using a private database. The transactions are recorded on a distributed ledger using crypto-tokens for a house account. The system also includes a token vault wallet with a unique identifier and private key to track transactions.

  • The server-side node administers transactions for a gambling casino.
  • The system uses a private database to sell and redeem chips.
  • Transactions are recorded on a distributed ledger using crypto-tokens for a house account.
  • The token vault wallet has a unique identifier and private key to track transactions.
  • Customer wallets, intermediary accounts, and one-way redemption wallets track transactions on the distributed ledger.
  • Client-side nodes accept token purchase messages and transfer tokens in the ledger while recording in the database.
  • Client-side nodes accept token-to-chip messages from an intermediary account and transfer tokens on the ledger to the redemption wallet to extinguish and record the exchange.
  • Client-side nodes accept chip-to-token messages from an intermediary account and transfer tokens from the vault to the customer account and record the exchange.
  • Client-side nodes accept token-to-fiat messages from an intermediary account and transfer tokens to extinguish and record the exchange.

Potential applications of this technology:

  • Online gambling platforms
  • Casino gaming systems
  • Virtual reality casinos

Problems solved by this technology:

  • Ensures secure and transparent transactions in a gambling casino
  • Reduces the risk of fraud and manipulation
  • Provides a decentralized ledger for recording transactions

Benefits of this technology:

  • Increased trust and transparency in gambling transactions
  • Improved security and privacy for players
  • Efficient and accurate recording of transactions


Original Abstract Submitted

the technology teaches a distributed gaming system, comprising a server-side node configured to administer transactions for a gambling casino, selling and redeeming chips using a private database, and recording transactions on a distributed ledger using crypto-tokens for a house account, with a token vault wallet that has a unique identifier and private key to track transactions. customer wallets, intermediary accounts and one-way redemption wallets track transactions on the distributed ledger. client-side nodes accept token purchase messages and transfer tokens in the ledger and record in the database, accept token-to-chip messages from an intermediary account and transfer tokens on the ledger to the redemption wallet to extinguish and record the exchange, accept chip-to-token messages from an intermediary account and transfer tokens from the vault to the customer account and record the exchange, and accept token-to-fiat messages from an intermediary account and transfer tokens to extinguish, and record the exchange.

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