physical asset – Devstyler.io https://devstyler.io News for developers from tech to lifestyle Fri, 27 Aug 2021 12:59:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 Microsoft Is Awarded US Patent for Crypto Token-Creation Service https://devstyler.io/blog/2021/08/27/microsoft-is-awarded-us-patent-for-crypto-token-creation-service/ Fri, 27 Aug 2021 07:12:33 +0000 https://devstyler.io/?p=67726 ...]]> Microsoft has been awarded a U.S. patent for software it says can help users develop blockchain applications by making it easier and more efficient to create crypto tokens for different distributed ledgers.

  • According to the patent, creating and managing tokens is currently “difficult and cumbersome” due to the lack of standardization across different blockchains.
  • Microsoft’s patent describes a ledger-independent system for helping users to create tokens, and for managing them across different networks.
  • On receiving a request from a user, the system offers templates with various attributes and control functions. Those would depend on the type of token required, representing, for example, a digital or physical asset. Once the user has selected the desired template, the system creates the token on the designated networks.
  • The system also provides a common interface for managing the tokens, so developers don’t have to worry about token-specific code to interact with them.
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