Capital one services, llc (20240113901). SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS simplified abstract
Contents
- 1 SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
Organization Name
Inventor(s)
Imren Johar of Clifton VA (US)
SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240113901 titled 'SYSTEMS AND METHODS FOR FACILITATING CRYPTOGRAPHICALLY BACKED COORDINATION OF COMPLEX COMPUTER COMMUNICATIONS
Simplified Explanation
The patent application describes methods and systems for implementing a novel cryptographic resource standard in blockchain technology. This standard enables complex communications and various functions related to cryptographic resource transfers.
- The novel cryptographic resource standard allows for single cryptographic resource transfers and batch cryptographic resource transfers.
- It also enables on-chain batching of one or more cryptographic resources.
Potential Applications
The technology described in the patent application could be applied in various industries and use cases, including:
- Financial transactions
- Supply chain management
- Voting systems
- Secure communication networks
Problems Solved
The technology addresses several issues in blockchain technology, such as:
- Enhancing the efficiency of cryptographic resource transfers
- Enabling complex communications on the blockchain
- Facilitating secure and transparent transactions
Benefits
The implementation of the novel cryptographic resource standard offers several benefits, including:
- Improved security and privacy in blockchain transactions
- Increased scalability and efficiency in cryptographic resource transfers
- Enhanced functionality for complex communications on the blockchain
Potential Commercial Applications
The technology has potential commercial applications in industries such as:
- Banking and finance
- Healthcare
- Logistics and supply chain management
- Government and public services
Possible Prior Art
One possible prior art related to this technology is the use of cryptographic resources in blockchain transactions to ensure security and authenticity. Additionally, prior art may include methods for batch processing transactions on the blockchain.
Unanswered Questions
How does the novel cryptographic resource standard compare to existing cryptographic standards in blockchain technology?
The article does not provide a direct comparison between the novel cryptographic resource standard and existing cryptographic standards in blockchain technology. It would be helpful to understand the specific advantages and differences of the new standard.
What are the potential limitations or challenges in implementing the novel cryptographic resource standard in real-world applications?
The article does not address any potential limitations or challenges that may arise when implementing the novel cryptographic resource standard in practical scenarios. Understanding these obstacles could provide valuable insights for future development and adoption of the technology.
Original Abstract Submitted
methods and systems for uses and/or improvements to blockchain technology. in particular, the methods and systems described herein implement a novel cryptographic resource standard that provides functionality for complex communications. the novel cryptographic resource standard allows for blockchain functions that may involve single cryptographic resource transfers or batch cryptographic resource transfers as well as on-chain batching of one or more cryptographic resources.
