U.S. Patent 11005646 was awarded to INTERNATIONAL BUSINESS MACHINES CORPORATION on May 11, 2021 and is entitled “Blockchain stochastic timer transaction synchronization.” The first named inventor is Marc Bergendahl of Rensselaer, NY. The abstract contains an overview of the patent disclosure:

A blockchain may be used as a stochastic timer. The posting of a blockchain solution for verification may be a trigger that determines an event schedule. Because the only entity that knows when the solution will be posted is the solving entity, the solving entity may be rewarded with the ability to potentially exploit this knowledge. However, because the solving of a blockchain is a competitive process, there is a risk that if the solving entity retains the solution for greater exploitation, then another entity will post the solution and therefore gain the benefit. A blockchain stochastic timer can thus provide the necessary incentive for entities to invest computational resources into blockchain solutions. Link to Full Patent

This blockchain patent was originally filed on May 23, 2018  as U.S. Patent Application 15/987700 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11005646. The primary examiner was Scott C Anderson.

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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