U.S. Patent 10581591 was awarded on March 03, 2020 and is entitled “Probabilistic secondary token issuance on a blockchain based on burning of a primary token of the blockchain.” The first named inventor is Matthew Branton of New York, NY. The abstract contains an overview of the patent disclosure:

In certain embodiments, probabilistic secondary token issuance on a blockchain may be facilitated based on a burning of a primary token of the blockchain. In some embodiments, a blockchain transaction associated with a user may be obtained. The blockchain transaction may indicate (i) an amount of a primary token of the blockchain (owned by the user) to be burned and (ii) a secondary token of the blockchain. Based on the blockchain transaction, (i) the amount of the primary token may be burned, and (ii) a portion of a key space may be allocated to the user. Based on a determination that a hash of at least a portion of a first block of the blockchain corresponds to the key space portion allocated to the user, an issuance of an amount of the secondary token to the user may be stored on a second block for the blockchain. Link to Full Patent

This blockchain patent was originally filed on October 26, 2017  as U.S. Patent Application 15/794644 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10581591. The primary examiner was Ghodrat Jamshidi.

This blockchain patent has been cited 8 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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