US 11,386,404 B2Granted

Temporary consensus subnetwork in a distributed network for payment processing

AssigneeRipple Luxembourg S.A.

InventorsStefan Thomas, Robert D. Way

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Abstract

In a method, computer readable medium, or system for making a payment transaction between a payor having an associated payor computer with a ledger storage for the payor and a payee having an associated payee computer with a ledger storage for the payee in a consensus payment network having a plurality of nodes each comprising a respective computer with ledger storage and relying on consensus determinations, an initiator is provided for making the payment transaction between the payor and the payee, the initiator being either the payor, the payee, or an intermediary having an associated intermediary computer. The respective initiator computer creates a temporary payment transaction consensus subnetwork comprising a set of validation nodes acceptable to both the payor and the payee, the set of validation nodes comprising fewer than all of said plurality of nodes in the payment network. The initiator with the respective client computer processes the payment transaction via the consensus payment network from the payor to the payee based on a determination of consensus by the consensus network.

Claims16

Dependent claims

A method for validating a payment transaction between a payor and a payee using a consensus payment network comprising plurality of node computers comprising a distributed ledger, the method comprising:

providing the payor with a payor computer comprising a portion of the distributed ledger;
providing the payee with a payee computer comprising a portion of the distributed ledger;
providing an intermediary with an intermediary computer;
performing, by either the payor or the payee computer or the intermediary computer, steps of:
collecting at least a first trust list and a second trust list;
intersecting a plurality of trust lists including at least the collected first and second trust lists, by a step of determining ones of the plurality of node computers that appear on each of the plurality of trust lists;
the determined node computers defining trusted node computers;
defining a temporary payment transaction consensus subnetwork comprising a number of the trusted node computers equal to or greater than a number specified as defining consensus for the consensus subnetwork;
validating by each of the trusted node computers the payment transaction;
providing by the temporary payment transaction consensus subnetwork a validation consensus;
processing, by the payor or payee computer, the payment transaction based on the validation consensus.

8 more elements

Dependencies are inferred from the claim text.

Facts

Application: 14/872,450Filed 1 Oct 2015 · us provisional application
Priority: 4 Feb 2015
Published: US 2016/0224949 A14 Aug 2016
Granted: 12 Jul 2022
Term ends: Not estimatedThe source records don’t support an estimate.

Classification6 codes

G06Q 20/027
Involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]: involving a payment switch or gateway
G06Q 20/02
Payment architectures, schemes or protocols: involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
G06Q 20/401
Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check…:…
H04L 9/50
Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols: using hash chains, e.g.…