View source for CROWDSTAKE GLOBAL, INC. (20240242200). SYSTEM AND METHOD FOR USING A BLOCKCHAIN TO ENABLE DECENTRALIZED STAKING POOL FUNDRAISING simplified abstract

=SYSTEM AND METHOD FOR USING A BLOCKCHAIN TO ENABLE DECENTRALIZED STAKING POOL FUNDRAISING=


==Organization Name==

[[:Category:CROWDSTAKE GLOBAL, INC.|CROWDSTAKE GLOBAL, INC.]]


[[Category:CROWDSTAKE GLOBAL, INC.]]

==Inventor(s)==

[[:Category:James Jackson Leach of Cedar Creek TX (US)|James Jackson Leach of Cedar Creek TX (US)]][[Category:James Jackson Leach of Cedar Creek TX (US)]]

==SYSTEM AND METHOD FOR USING A BLOCKCHAIN TO ENABLE DECENTRALIZED STAKING POOL FUNDRAISING - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240242200 titled 'SYSTEM AND METHOD FOR USING A BLOCKCHAIN TO ENABLE DECENTRALIZED STAKING POOL FUNDRAISING

The abstract describes a computer-implemented method involving smart contracts on a blockchain, cryptocurrency pledging, and annual percentage yield calculations.

*Simplified Explanation: 
The method involves users selecting a smart project to join, pledging cryptocurrency to it for a set period, receiving an annual percentage yield, and returning the cryptocurrency if a trigger condition is met.

*Key Features and Innovation:
- Utilizes smart contracts on a blockchain for controlling smart projects
- Involves pledging cryptocurrency to smart projects
- Calculates annual percentage yield based on the amount of cryptocurrency pledged
- Returns cryptocurrency if trigger condition is met

*Potential Applications:
- Decentralized finance (DeFi) platforms
- Investment opportunities in smart projects
- Automated yield generation for cryptocurrency holders

*Problems Solved:
- Facilitates secure and transparent cryptocurrency pledging
- Provides a mechanism for generating yield on cryptocurrency investments
- Enables users to participate in smart projects with defined terms and conditions

*Benefits:
- Increased transparency and security through blockchain technology
- Opportunity for cryptocurrency holders to earn yield on their assets
- Efficient and automated process for participating in smart projects

*Commercial Applications:
Smart contract platforms for DeFi projects, cryptocurrency investment platforms, blockchain-based financial services

*Prior Art:
Readers can explore prior art related to smart contracts, blockchain-based finance, and cryptocurrency pledging methods.

*Frequently Updated Research:
Stay informed about the latest developments in smart contract technology, blockchain innovations, and cryptocurrency investment strategies.

Questions about smart contracts and cryptocurrency pledging:
1. How do smart contracts enhance the security of cryptocurrency transactions?
2. What are the potential risks associated with pledging cryptocurrency to smart projects?


==Original Abstract Submitted==

in one embodiment, a computer-implemented method includes receiving, via a user interface, a selection of a smart project to join, wherein the smart project is controlled via a smart contract deployed on a blockchain. the method includes receiving an amount of cryptocurrency to pledge to the smart project for a set period of time based on the smart contract, transmitting, from a first digital wallet, the amount of cryptocurrency to an address associated with the smart project at a first block on the blockchain, receiving, based on the amount of cryptocurrency, an annual percentage yield, and transmitting, based on the smart contract, the annual percentage yield to a second block associated with a smart collateral digital wallet on the blockchain. the method includes determining when a trigger condition occurs, and responsive to the trigger condition occurring, returning the cryptocurrency to the first digital wallet.



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