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US 11,455,650 B2Granted
System and method for on-chain rewards
AssigneeCoinbase, Inc.
InventorPeter Jihoon Kim
Life of this patent
Estimating the term…
Abstract
Systems and methods to at least provide rewards using a smart contract are disclosed.
Claims20
A system comprising:
- at least one hardware processor;
- and
- a memory storing instructions that cause the at least one hardware processor to perform operations comprising:
- storing a rewards smart contract on a first blockchain network;
- wherein, during execution, the rewards smart contract performs a method comprising:
- receiving, via a signed blockchain transaction executing on the first blockchain network, a first deposit comprising a first amount of cryptocurrency transferred from a sending blockchain address to an address of the rewards smart contract, wherein the signed blockchain transaction originated from a digital wallet;
- determining a deposited amount of units based on the first amount of cryptocurrency and a cryptocurrency-to-unit ratio;
- storing the deposited amount of units in association with the sending blockchain address;
- receiving a rewards deposit comprising a second amount of cryptocurrency;
- receiving a withdrawal request from the sending blockchain address, the withdrawal request indicating a withdrawal amount via a second signed blockchain transaction;
- and
- transferring the withdrawal amount to the sending blockchain address.
9 more elements
A method, executing on at least one hardware processor, comprising:
- storing a rewards smart contract on a first blockchain network;
- wherein, during execution, the rewards smart contract performs operations comprising:
- receiving, via a signed blockchain transaction executing on the first blockchain network, a first deposit comprising a first amount of cryptocurrency transferred from a sending blockchain address to an address of the rewards smart contract, wherein the signed blockchain transaction originated from a digital wallet;
- determining a deposited amount of units based on the first amount of cryptocurrency and a cryptocurrency-to-unit ratio;
- storing the deposited amount of units in association with the sending blockchain address;
- receiving a rewards deposit comprising a second amount of cryptocurrency;
- receiving a withdrawal request from the sending blockchain address, the withdrawal request indicating a withdrawal amount via a second signed blockchain transaction;
- and
- transferring the withdrawal amount to the sending blockchain address.
6 more elements
One or more non-transitory computer-readable media storing computer-executable instructions that, when executed by one or more hardware processors, cause the one or more hardware processors to:
- store a rewards smart contract on a first blockchain network;
- wherein, during execution, the rewards smart contract performs operations comprising:
- receiving, via a signed blockchain transaction executing on the first blockchain network, a first deposit comprising a first amount of cryptocurrency transferred from a sending blockchain address to an address of the rewards smart contract, wherein the signed blockchain transaction originated from a digital wallet;
- determining a deposited amount of units based on the first amount of cryptocurrency and a cryptocurrency-to-unit ratio;
- storing the deposited amount of units in association with the sending blockchain address;
- receiving a rewards deposit comprising a second amount of cryptocurrency;
- receiving a withdrawal request from the sending blockchain address, the withdrawal request indicating a withdrawal amount via a second signed blockchain transaction;
- and
- transferring the withdrawal amount to the sending blockchain address.
6 more elements
Dependencies are inferred from the claim text.