U.S. Patent 11176506 was awarded to INTERNATIONAL BUSINESS MACHINES CORPORATION on November 16, 2021 and is entitled “Blockchain expense and resource utilization optimization.” The first named inventor is Rafal P. Konik of Oronoco, MN. The abstract contains an overview of the patent disclosure:

A blockchain configuration may require constant and large amounts of resources to maintain a growing structure. One example method of operation may include receiving blockchain transactions and creating a blockchain block, identifying miner devices to process the blockchain block, identifying expenses associated with each of the miner devices, selecting an optimal cost miner device among the miner devices based on the identified expenses associated with each of the miner devices, and assigning the optimal cost miner device to solve the blockchain block. Link to Full Patent

This blockchain patent was originally filed on October 14, 2016  as U.S. Patent Application 15/294461 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11176506. The primary examiner was James D Nigh.

INTERNATIONAL BUSINESS MACHINES CORPORATION, who is the original assignee of this patent, has at least 150818 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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