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Microsoft patents "ledger-free token" service

Şükriye Akdeniz

Aug 26, 2021

Microsoft has finally patented an Ethereum-like service related to Blockchain

Microsoft, the technology giant, finally got the patent for “ledger-independent token service”. The ledger-free token service is a service designed to function as a single, unified interface for managing the lifecycle of tokens across different DLTs. This will allow developers to “write code to process and manage tokens independently of their platform.”
The most striking feature of this blockchain-related patent is that it has a cross-chain token management system similar to Ethereum.
Although Microsoft is not very interested in cryptocurrencies, it remains active in the blockchain space. Work on the latest application of the blockchain-based project has been going on for a long time. He later applied for a patent in February 2019. It will describe a “ledger-independent token service,” or a computer system that provides users with “one or more token templates, where each token template corresponds to some type of physical or digital asset.”
Network issues occurring in Ethereum did not overlook Microsoft. In an article published by Microsoft's research department, it was stated that several encryption processes were reviewed.
“This way, the cost of reporting hacking will be reduced to the equivalent cost of sending around 14 ETH transfer transactions to run on the public Ethereum network, which would otherwise amount to thousands of transactions.”

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