2BC Innovations, LLC (20240331048). PROCESSING A CONTINGENT ACTION TOKEN SECURELY simplified abstract
Contents
PROCESSING A CONTINGENT ACTION TOKEN SECURELY
Organization Name
Inventor(s)
Gary W. Grube of Barrington Hills IL (US)
PROCESSING A CONTINGENT ACTION TOKEN SECURELY - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240331048 titled 'PROCESSING A CONTINGENT ACTION TOKEN SECURELY
The abstract of the patent application describes a method executed by a computing device that involves selecting a contingency-action token (CAT) of an object distributed ledger that meets certain requirements. The method includes evaluating the CAT based on an evaluation profile, taking control of the selected CAT of a blockchain, updating the CAT, generating a new block affiliated with the updated CAT via another blockchain, and exchanging the new block securely.
- Selecting a contingency-action token (CAT) of an object distributed ledger
- Determining the CAT based on an evaluation profile
- Taking control of the selected CAT of a blockchain securely
- Updating the selected CAT using a secure exchange process
- Generating a new block affiliated with the updated CAT via another blockchain
Potential Applications: - Secure exchange of information on distributed ledgers - Enhanced control and management of blockchain tokens
Problems Solved: - Ensuring the security and integrity of blockchain transactions - Facilitating secure updates and exchanges of blockchain tokens
Benefits: - Improved security in blockchain transactions - Enhanced control and management of blockchain tokens - Streamlined processes for updating and exchanging blockchain tokens
Commercial Applications: Title: Secure Blockchain Token Management System This technology could be applied in industries such as finance, supply chain management, and healthcare for secure and efficient management of blockchain tokens.
Prior Art: Readers can explore prior research on blockchain token management systems and secure exchange processes in distributed ledgers to understand the existing technology landscape.
Frequently Updated Research: Stay informed about the latest advancements in blockchain token management systems and secure exchange processes by following relevant research publications and industry developments.
Questions about Blockchain Token Management: 1. How does the method ensure the security of the blockchain tokens during the exchange process? 2. What are the key factors considered in the evaluation profile for selecting a contingency-action token?
Original Abstract Submitted
a method executed by a computing device includes selecting a contingency-action token (cat) of an object distributed ledger that meets minimum cat requirements. the method further includes determining to select the cat based on an evaluation of the cat with regards to an evaluation profile. when selecting the cat the method further includes facilitating taking control of the selected cat of a blockchain of the object distributed ledger using a securely passing process and updating the selected cat utilizing the secure exchange posting information for the cat to produce an updated cat. the method further includes causing, using the securely passing process, generation of a new block affiliated with the updated cat via another blockchain of another object distributed ledger for a secure exchange, where the new block includes the updated cat.
