U.S. Patent 11170374 was awarded to Advanced New Technologies Co., Ltd. on November 09, 2021 and is entitled “Method, apparatus and electronic device for blockchain transactions.” The first named inventor is Baoli Ma of Hangzhou, . The abstract contains an overview of the patent disclosure:

A method for implementing blockchain-based transactions comprises: determining a transaction amount to be remitted from a remitter’s blockchain account into a receiver’s blockchain account, wherein a balance of the remitter’s blockchain account comprises multiple reserve balances, and commitments of the reserve balances are recorded in a blockchain; selecting one or more of the reserve balances from the remitter’s blockchain account, wherein the sum of the selected one or more reserve balances is not smaller than the transaction amount; and submitting to the blockchain a transaction comprising an identification of each of the selected one or more reserve balances and a commitment of the transaction amount, for the selected one or more reserve balances to be removed from the remitter’s blockchain account and the transaction amount to be added to the receiver’s blockchain account. Link to Full Patent

This blockchain patent was originally filed on March 13, 2020  as U.S. Patent Application 16/817741 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11170374. The primary examiner was Steven S Kim.

Advanced New Technologies Co., Ltd., who is the original assignee of this patent, has at least 1031 total granted patents in the United States as of the date of this article. 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.

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