18439751. CRYPTOGRAPHIC DIGITAL ASSET ARCHITECTURE WITH SELECTIVELY-LOCKABLE DYNAMIC EVOLUTION simplified abstract (NIKE, Inc.)
Contents
CRYPTOGRAPHIC DIGITAL ASSET ARCHITECTURE WITH SELECTIVELY-LOCKABLE DYNAMIC EVOLUTION
Organization Name
Inventor(s)
Christopher Andon of Portland OR (US)
Nikhil Gopalani of Dublin OH (US)
Chris Le Howard of Salt Lake City UT (US)
Steven Vasilev of Miami FL (US)
CRYPTOGRAPHIC DIGITAL ASSET ARCHITECTURE WITH SELECTIVELY-LOCKABLE DYNAMIC EVOLUTION - A simplified explanation of the abstract
This abstract first appeared for US patent application 18439751 titled 'CRYPTOGRAPHIC DIGITAL ASSET ARCHITECTURE WITH SELECTIVELY-LOCKABLE DYNAMIC EVOLUTION
Simplified Explanation:
This patent application describes a method for creating cryptographic tokens representing digital assets with evolving attributes, locking the evolution of the digital asset, and transferring a new token with attributes reflecting the locked state to the token holder's digital wallet.
- The method involves creating multiple cryptographic tokens representing digital assets with attributes that change over time.
- When a request is received to freeze the evolution of a digital asset, a new token is generated with attributes based on the asset's state at the time of the request.
- The new token is then transferred to the token holder's digital wallet or account.
Key Features and Innovation:
- Creation of cryptographic tokens representing digital assets with evolving attributes.
- Ability to lock the evolution of a digital asset.
- Generation of new tokens reflecting the locked state of the asset.
- Transfer of the new tokens to the token holder's digital wallet.
Potential Applications:
This technology could be applied in various industries such as finance, gaming, and supply chain management where digital assets with evolving attributes need to be securely managed and transferred.
Problems Solved:
This technology addresses the challenge of managing digital assets with changing attributes and ensures the secure transfer of tokens reflecting the locked state of the assets.
Benefits:
- Enhanced security in managing digital assets.
- Efficient transfer of tokens with locked attributes.
- Improved tracking and management of evolving digital assets.
Commercial Applications:
The technology could be used in financial markets for trading digital assets, in gaming for managing in-game assets, and in supply chain management for tracking products with changing attributes.
Prior Art:
Further research can be conducted in the field of cryptographic token management and digital asset evolution to explore existing technologies and innovations.
Frequently Updated Research:
Stay updated on advancements in blockchain technology, digital asset management, and cryptographic token protocols to enhance the application of this technology.
Questions about Cryptographic Token Evolution:
1. How does this technology ensure the security of transferring tokens with evolving attributes? 2. What are the potential risks associated with locking the evolution of digital assets in this manner?
Original Abstract Submitted
A method comprising: instructing the creation of a plurality of first cryptographic tokens representing digital assets with at least one attribute configured to evolve over time; receiving a request to lock the evolution of the digital asset corresponding to the cryptographic token; in response to the received request, generating a second cryptographic token having at least one attribute derived from the evolutionary state of the digital asset at the time the request to lock was received; instructing the transfer of the second cryptographic token to a digital wallet or account of the token holder.
