Coinbase Seeks Patent for Bitcoin Private Key Security System
Bitcoin and ether exchange startup Coinbase is seeking a patent for a security system for bitcoin private keys. According to an application published on 24th November by the US Patent and Trademark Office (USPTO), Coinbase is aiming to patent a “security system forming part of a bitcoin host computer”. Coinbase submitted the application in May of last year, with software engineers Andrew Alness and James Hudon listed as inventors. The startup, which has raised more than $116m in venture capital to date, has sought other patents in the past. The last few months have seen a flurry of....
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Coinbase has filed a patent for a bitcoin host computer security system for private keys that it says addresses private key security concerns. The application, filed with the U.S. Patent & Trademark Office, noted a key ceremony application creates bundles that each contain a master key share. The master key shares each store a master key used for private key encryption during a checkout process. Existing systems do not maintain security over private bitcoin keys while allowing users to check out on a merchant page and make payments using their wallets, the application noted.....
One of the UK's largest telecoms is seeking a patent for a security system aimed at preventing malicious attacks on blockchains. British Telecommunications (BT) PLC submitted a patent application last July for “Mitigating Blockchain Attacks” to the US Patent and Trademark Office (USPTO). The application, released on 2nd February, details both a system and methods for monitoring transactions on a particular blockchain in a bid to “detect malicious attacks”, the application’s authors write. The filing is notable given its source, as BT is the largest Internet service provider in the UK,....
Coinbase gets into trouble with another lawsuit of patent infringement, among its other legal issues. A blockchain-based fintech software company in New York, Varitaseum Capital LLC, sued the crypto exchange for infringing its patent transfer technology for several exchange services. Reggie Middleton, the founder of Veritaseum, filed the patent infringement case against Coinbase in Delaware […]
Bank of America's filing for a patent for a bitcoin wire transfer system last year was published by the U. S. Patent and Trademark Office (USPTO) on September 17, 2015. The patent seeks to protect a cryptocurrency wire transfer system in which funds sent by a customer electronically could be transferred using the blockchain of the underlying cryptocurrency. In particular, the bitcoin wire transfer system would convert the sender's funds at a cryptocurrency exchange then sent to another cryptocurrency exchange to be converted to foreign fiat currency before the funds are received. Bank of....
VeChain Global Technology has petitioned for a patent with the U.S. federal agency Patent and Trademark Office (USPTO). Filed on April 22nd, 2021, the application seeks to register methods, devices, blockchain nodes, and a system for carbon recording and trading, per the document published by the agency. The patent has been attributed to Jianliang Gu, […]