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US 11,232,414 B2Granted
Cryptocurrency verification system
AssigneeRaise Marketplace, LLC
InventorsJosh Metnick, Ryan Chiu, Alexander Oliver Smith, Ethan Gordon
Life of this patent
Estimating the term…
Abstract
A machine and process for making and for using a machine. The process includes receiving, by the computer over a network, a notification of a payment comprising an amount of cryptocurrency and a first cryptocurrency address, and effectuating, by the computer, the purchase by using the amount and the cryptocurrency address from which a first public key can be derived, and applying the computer system to verifying that a digitally represented human or entity purporting to have made a purchase with cryptocurrency is entitled to obtain value for the purchase.
Claims12
An apparatus comprising:
- a computer system including a computer operably associated with an input device, an output device, and a connection to a network, the computer system operable to perform:
- receiving a notification of a payment that includes an amount of cryptocurrency and a first cryptocurrency address, wherein the first cryptocurrency address is associated with a first public key of a public/private key pair;
- and
- effectuating a purchase by using the amount and the first cryptocurrency address, and verifying that a digitally represented person or entity purporting to have made the purchase is entitled to obtain value for the purchase, wherein the verifying includes at:
- generating a request for a second amount of cryptocurrency;
- sending the request to the digitally represented person or entity purporting to have made the purchase;
- receiving from the digitally represented person or entity purporting to have made the purchase a second cryptocurrency payment from the first cryptocurrency address, wherein the second cryptocurrency payment includes the second amount, wherein the digitally represented person or entity purporting to have made the purchase signs the second cryptocurrency payment to produce a signed transaction, and wherein a second public key is associated with the signed transaction;
- determining whether the second public key matches with the first public key, wherein the second public key matching the first public key indicates that the digitally represented person or entity is in possession of a private key of the public/private key pair;
- when the match is determined, indicating verification that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase;
- and
- when the match is not determined, performing one or more of producing no output and indicating a failure.
8 more elements
A method comprising:
- verifying, by a computer system, that a digitally represented person or entity purporting to have made a purchase with cryptocurrency is entitled to obtain value for the purchase, the computer system including a computer operably associated with an input device, an output device, and a connection to a network, the computer programmed such that the computer system is enabled to carry out the verifying by steps including:
- receiving, by the computer over the network, a notification of a payment that includes an amount of cryptocurrency and a first cryptocurrency address, wherein the first cryptocurrency address is associated with a first public key of a public/private key pair;
- and
- effectuating, by the computer, the purchase by using the amount and the first cryptocurrency address, and verifying, by the computer, that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase, wherein the verifying includes:
- generating a request for a second amount of cryptocurrency;
- sending the request to the digitally represented person or entity purporting to have made the purchase;
- receiving from the digitally represented person or entity purporting to have made the purchase a second cryptocurrency payment from the first cryptocurrency address, wherein the second cryptocurrency payment includes the second amount, wherein the digitally represented person or entity purporting to have made the purchase signs the second cryptocurrency payment to produce a signed transaction, and wherein a second public key is associated with the signed transaction;
- determining whether the second public key matches with the first public key, wherein the second public key matching the first public key indicates that the digitally represented person or entity is in possession of a private key of the public/private key pair;
- when the match is determined, indicating verification that the digitally represented human or entity purporting to have made the purchase is entitled to obtain value for the purchase;
- and
- when the match is not determined, performing one or more of producing no output and indicating a failure.
8 more elements
Dependencies are inferred from the claim text.