U.S. Patent 10644879 was awarded to Coinbase, Inc. on 2020-05-05 and describes a “Private key decryption system and method of use.” 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 key ceremony application creates bundles for custodians encrypted with their passphrases. Each bundle includes master key share. The master key shares are combined to store an operational master key. The operational master key is used for private key encryption during a checkout process. The operational private key is used for private key decryption for transaction signing in a payment process. The bundles further include TLS keys for authenticated requests to create an API key for a web application to communicate with a service and to unfreeze the system after it has been frozen by an administrator. Link to Full Patent

This patent was originally filed on 2018-07-13 which gives it an average processing time in the field. Coinbase, Inc. has 20 total patents. The first named inventor is Andrew E. Alness of Santa Cruz, CA. The primary examiner was Gary S Gracia. Coinbase was founded in June 2012 by Brian Armstrong.

Select IP monitors top patents and patents which have been allowed and granted worldwide. We are experts in patent law with experience blockchain technology and IP law and intellectual property law as it pertains to blockchain technology and cryptocurrency patents. If you are interested in connecting with an IP law attorney or patent law attorney, please contact us via the contact form.
 
Patentability Searches – Determine the patentability of your inventions.
Freedom to Operate Searches & Opinions – Identify patents may give you potential infringement issues (including in the recording, communication or information retrieval equipment field).
Non-Infringement Opinions – Determine if your product infringes a competitor’s patent.
Patent Invalidity Searches & Opinions – Find prior art to invalidate a competitor’s patent.
U.S. Provisional Patent Applications – Receive cost-effective “patent pending” status for your invention.
U.S. Non-Provisional Patent Applications (Utility) – Apply for patent protection on the structural and functional aspects of your invention.
U.S. Design Patent Applications – Apply for patent protection on the ornamental appearance of your invention.