U.S. Patent 11062303 was awarded to Blockstream Corporation on July 13, 2021 and is entitled “Cryptographically concealing amounts transacted on a ledger while preserving a network’s ability to verify the transaction.” The first named inventor is Gregory Maxwell of Mountain View, CA. The abstract contains an overview of the patent disclosure:

Systems and methods are described for encrypting an amount transacted on a blockchain ledger, while preserving the transaction’s ability to be verified. A blinding amount is added to an input value, and an output value is generated and encrypted. Both the input value and the output value are within a value range, where a sum of any two values within the range does not exceed an overflow threshold. The sum of the encrypted input value and the encrypted output value may equal zero. Rangeproofs associated with each of the input value and the output value are generated. The rangeproofs prove that the input value and the output value fall within the value range, and each rangeproof may be associated with a different public key. Each public key may be signed with a ring signature based on a public key of a recipient in the transaction. Link to Full Patent

This blockchain patent was originally filed on June 08, 2016  as U.S. Patent Application 15/176833 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11062303. The primary examiner was James D Nigh.

Blockstream Corporation, who is the original assignee of this patent, has at least 4 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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