Microsoft obtains a patent for a service that allows users to create crypto tokens
2 min readCrypto is undoubtedly entering the mainstream. At this point, there is simply no going back. The question is whether people decide to board a moving train or stay behind. And it seems so Microsoft, one of the largest companies in the world, does not want to be left behind. Although it still lacks its own blockchain, a technology giant gained patent for distributed ledger (ledger).
The growth of blockchains such as Bitcoin and Ethereum, is causing more and more concern to companies like Microsoft. While their services are still much needed today, the popularity of blockchains shows that in the not too distant future they can become very obsolete. In this case, this also creates a need for companies to provide these services to people so that they can continue to build on their platforms.
Distributed ledger from Microsoft versus blockchain
Although distributed ledger is similar to blockchain, it’s not the same. Although the functions of the blockchain are similar to those of a distributed ledger. According to FINRA is a distributed ledger consensus record with cryptographic control trace maintained and verified by nodes (nodes). This activity can be centralized the sky decentralized.
On the other hand, a blockchain is a way to implement a distributed ledger. An important note, however, is that not all distributed ledgers necessarily use blockchains.
Microsoft just got permission to do so. This ledger will act as a blockchain. But it’s not really a blockchain. The patent provides some facts about the distributed ledger for which Microsoft received the patent. Its use is important for the cryptocurrency space.
This is because Microsoft’s distributed ledger will allow users create and manage tokens. The patent explains that this process is currently underway “Difficult and cumbersome” due to the lack of standardization across different blockchains. Microsoft’s distributed ledger therefore make the process easier and more enjoyable.
How crypto tokens will be created
The token service is independent of the ledger as described in the patent and provides to users one or more token templates. These templates will correspond to the type of physical and digital assets. They will too define sets of one or more attributes or controls which will then be associated with the selected template. The computer then takes over the selected template for use in creating a token on the distributed ledger network.
Microsoft Distributed Ledger templates will include a variety of features for users. These will include features like transfer, mining and number of tokens for combustion. Users can easily create and publish theirs using these templates custom crypto tokens for the market.
Date launch this service yet has not been announced. Patent approval is a big step for the company in the right direction. It will enable it to retain millions of users around the world as cryptocurrencies become a regular part of life.
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