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US 12,086,771 B2Granted
Distributed cryptographic tokens with downstream administrative control
AssigneePolymath Inc.
InventorsChris Housser, Trevor Koverko, Pablo Ruiz, Adam Dossa
Life of this patent
Estimating the term…
Abstract
Disclosed is a platform That enables centralized control over updates to a distributed cryptocurrency network through inclusion of an administrative user to a set of tokens that operate on a base cryptocurrency network but include rule sets that are separate from those of the base cryptocurrency. A plurality of customized token types are generated by a platform provider for respective administrative users. The platform provider may provide software updates that are implemented at the sole discretion of the respective administrative users.
Claims19
A method of operating a cryptographic token comprising:
- in response to input by a first user, generating a number of cryptographic tokens that correspond to a smart contract recorded on a cryptographic ledger and associated with a first cryptographic address;
- directing a first transfer, via a distributed consensus network, of a first cryptographic token of the number of cryptographic tokens from the first cryptographic address associated with the first user to a second cryptographic address associated with a second user;
- restricting transfers of the first cryptographic token from the second cryptographic address based on a specified criterion of the smart contract, wherein transfers are cryptographically prevented from executing while the specified criterion is unsatisfied, wherein the second user belongs to a first class of users, and wherein the specified criterion is based on a maximum number of users that belong to the first class of users;
- cryptographically signing, by the first user, a second transfer of the first cryptographic token;
- in response to input including a cryptographic signature of the first user cryptographically signing the second transfer of the first cryptographic token, directing the second transfer, via the distributed consensus network, of the first cryptographic token of the number of cryptographic tokens from the second cryptographic address to a third cryptographic address associated with a third user;
- and
- verifying, in accordance with the specified criterion, that the third user associated with the third cryptographic address is included on an allowlist associated with the smart contract.
4 more elements
A system comprising:
- at least one processor;
- a memory storing computer-readable instructions when executed by the at least one processor, cause the at least one processor to:
- in response to input by a first user, generate a number of cryptographic tokens that correspond to a smart contract recorded on a cryptographic ledger and associated with a first cryptographic address;
- direct a first transfer, via a distributed consensus network, of a first cryptographic token of the number of cryptographic tokens from the first cryptographic address associated with the first user to a second cryptographic address associated with a second user;
- restrict transfers of the first cryptographic token from the second cryptographic address based on a specified criterion of the smart contract, wherein transfers are cryptographically prevented from executing while the specified criterion is unsatisfied, wherein the second user belongs to a first class of users, and wherein the specified criterion is based on a maximum number of users that belong to the first class of users;
- cryptographically sign, by the first user, a second transfer of the first cryptographic token;
- in response to input including a cryptographic signature of the first user cryptographically signing the second transfer of the first cryptographic token, direct the second transfer, via the distributed consensus network, of the first cryptographic token of the number of cryptographic tokens from the second cryptographic address to a third cryptographic address associated with a third user;
- and
- verify, in accordance with the specified criterion, that the third user associated with the third cryptographic address is included on an allowlist associated with the smart contract.
6 more elements
A non-transitory computer-readable storage medium comprising computer instructions when executed by a processor, cause a computer system to perform those steps of:
- in response to input by a first user, generating a number of cryptographic tokens that correspond to a smart contract recorded on a cryptographic ledger and associated with a first cryptographic address;
- directing a first transfer, via a distributed consensus network, of a first cryptographic token of the number of cryptographic tokens from the first cryptographic address associated with the first user to a second cryptographic address associated with a second user;
- restricting transfers of the first cryptographic token from the second cryptographic address based on a specified criterion of the smart contract, wherein transfers are cryptographically prevented from executing while the specified criterion is unsatisfied, wherein the second user belongs to a first class of users, and wherein the specified criterion is based on a maximum number of users that belong to the first class of users;
- cryptographically signing, by the first user, a second transfer of the first cryptographic token;
- in response to input including a cryptographic signature of the first user cryptographically signing the second transfer of the first cryptographic token, directing the second transfer, via the distributed consensus network, of the first cryptographic token of the number of cryptographic tokens from the second cryptographic address to a third cryptographic address associated with a third user;
- and
- verifying, in accordance with the specified criterion, that the third user associated with the third cryptographic address is included on an allowlist associated with the smart contract.
4 more elements
Dependencies are inferred from the claim text.