U.S. Patent 11032366 was awarded to AJOU UNIVERSITY INDUSTRY-ACADEMIC COOPERATION FOUNDATION on June 08, 2021 and is entitled “Node device on blockchain network for processing transaction.” The first named inventor is Kwang Hoon Choi of Suwon-si, . The abstract contains an overview of the patent disclosure:

A node device on a blockchain network is provided. The node device includes a blockchain state monitor that calculates an estimated time of transaction processing completion according to a transaction cost by using state information about the blockchain network, a transaction cost determiner that calculates a minimum transaction cost that satisfies a user’s requirements by using the calculated estimated time of transaction processing completion, and a transaction processor that processes a transaction of the user in response to a first transaction processing request when the first transaction processing request, which pays a transaction cost equal to or greater than the minimum transaction cost, is generated by the user. Link to Full Patent

This blockchain patent was originally filed on February 14, 2020  as U.S. Patent Application 16/790938 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11032366. The primary examiner was Kristie D Shingles.

AJOU UNIVERSITY INDUSTRY-ACADEMIC COOPERATION FOUNDATION, who is the original assignee of this patent, has at least 1475 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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