RECOVERABLE TRANSACTIONS IN BLOCKCHAIN SYSTEMS VIA WRAPPED RECOVERABLE TOKENS

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RECOVERABLE TRANSACTIONS IN BLOCKCHAIN SYSTEMS VIA WRAPPED RECOVERABLE TOKENS

This abstract first appeared for US patent application 20250005574 titled 'RECOVERABLE TRANSACTIONS IN BLOCKCHAIN SYSTEMS VIA WRAPPED RECOVERABLE TOKENS

Original Abstract Submitted

certain aspects of the present disclosure provide techniques and apparatus for processing recoverable transactions on a blockchain. an example method generally includes receiving a request to execute a transaction on a blockchain to transfer a quantity of a wrapped token which encapsulates a base token exchanged in transactions on the blockchain. a running total of tokens in the receiver wallet that are in a recoverable state is incremented by the quantity of the token identified in the request. after a threshold amount of time from a timestamp associated with the received request, it is determined whether the transaction has been frozen. based on determining that the transaction has not been frozen, the running total of tokens in the receiver wallet that are in the recoverable state is decremented, and a running total of tokens in the receiver wallet that are in a non-recoverable state is incremented.