U.S. Bank National Association (20240330080). CROSS-CHAIN BRIDGE CREATION AND MANAGEMENT simplified abstract

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CROSS-CHAIN BRIDGE CREATION AND MANAGEMENT

Organization Name

U.S. Bank National Association

Inventor(s)

AHMED M. Abdelrahman of Dallas TX (US)

MICHAEL Villano of Laguna Niguel CA (US)

SAMUEL Assefa of Watertown MA (US)

CROSS-CHAIN BRIDGE CREATION AND MANAGEMENT - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240330080 titled 'CROSS-CHAIN BRIDGE CREATION AND MANAGEMENT

Simplified Explanation:

This patent application describes a method for creating a bridge to enable cross-chain transactions. The method involves monitoring transactions on two different blockchains, classifying them, generating smart contracts using artificial intelligence, and deploying these contracts to link the blockchains.

  • The method monitors transactions on two blockchains and classifies them.
  • It uses a generative artificial intelligence model to create smart contracts for different transaction types.
  • These smart contracts define a bridge between the two blockchains based on the transaction type.
  • The smart contracts are then deployed to facilitate cross-chain transactions.

Key Features and Innovation:

  • Monitoring and classifying transactions on different blockchains.
  • Using artificial intelligence to generate smart contracts for creating a bridge.
  • Deploying smart contracts to enable cross-chain transactions.

Potential Applications:

This technology could be used in the cryptocurrency and blockchain industry to facilitate seamless transactions between different blockchain networks.

Problems Solved:

This technology addresses the challenge of interoperability between different blockchains, allowing for more efficient and secure cross-chain transactions.

Benefits:

  • Improved efficiency in conducting cross-chain transactions.
  • Enhanced security and reliability in transferring assets between different blockchains.

Commercial Applications:

The technology could be valuable for cryptocurrency exchanges, decentralized finance platforms, and any other services that involve transactions across multiple blockchains.

Questions about Cross-Chain Transactions:

1. How does this technology improve the interoperability between different blockchains? 2. What are the potential risks associated with using smart contracts for cross-chain transactions?


Original Abstract Submitted

a method for generating a bridge to facilitate cross-chain transactions is disclosed. the method includes monitoring transactions on a first and second blockchain and classifying the monitored transactions. for each transaction type of a plurality of transaction types, the method includes generating, with a generative artificial intelligence model, a smart contract defining a bridge to link the first blockchain with the second blockchain based on the classified transaction type and deploying the smart contract defining the bridge.

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