U.S. Patent 10878389 was awarded to Coinbase, Inc. on 2020-12-29 and describes a “Cryptographic currency exchange.” Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. This blockchain patent has been cited 0 times by other U.S. patents according to our law firm research, and can be considered an innovative patent in the field of cryptocurrency and blockchain. The abstract states:

A system and method for transacting cryptographic currency is described. An exchange database associated with a number of buyers and sellers is maintained at a host computer system. Cryptographic currency is received from one or more of the sellers at an exchange wallet associated with the exchange database. A match is created within the exchange database, including a buy offer for the cryptographic currency from a buyer and a sell offer for the cryptographic currency from a seller. A cryptographic currency withdrawal request is received from the buyer, and in response, the host computer system determines that a total amount of cryptographic currency represented in the exchange database matches a total amount of the cryptographic currency within the exchange wallet, transfers the cryptographic currency to the buyer’s wallet, and updates the exchange database by deducting a first value of the cryptographic currency that is transferred to the buyer’s wallet. Link to Full Patent

This patent was originally filed on 2019-01-09 which gives it an average processing time in the field. Coinbase, Inc. has 20 total patents. The first named inventor is Roman Shtylman of New York, NY. The primary examiner was William E Rankins. Coinbase was founded in June 2012 by Brian Armstrong.

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