U.S. Patent 11126976 was awarded to nChain Holdings Limited on September 21, 2021 and is entitled “Method and system for efficient transfer of cryptocurrency associated with a payroll on a blockchain that leads to an automated payroll method and system based on smart contracts.” The first named inventor is Craig Steven Wright of London, . The abstract contains an overview of the patent disclosure:

The invention relates to blockchain technologies such as the Bitcoin blockchain, and the tokenisation of assets or entities. It is particularly suited for implementing a payroll on a blockchain platform and comprises a method (100) and system (1) of transferring cryptocurrency from a first node (3) to a second node (7). Both nodes (3, 7) are associated with a payroll and have a respective asymmetric cryptography pair, each pair including a master private key and a master public key. Respective additional private and public keys may be determined based on the master private key, master public key and a generator value at each node. The additional private and public keys may form a hierarchical structure. A common secret may be determined at each of the nodes (3, 7) based on the additional private and public keys. The common secret may be used to securely transmit confidential information across a communications network (5). Link to Full Patent

This blockchain patent was originally filed on February 16, 2017  as U.S. Patent Application 16/079083 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11126976. The primary examiner was James D Nigh.

nChain Holdings Limited, who is the original assignee of this patent, has at least 18 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.

Select IP monitors top patents and patents which have been allowed and granted worldwide. We are experts in patent law with experience blockchain technology and IP law and intellectual property law as it pertains to blockchain technology and cryptocurrency patents. If you are interested in connecting with an IP law attorney or patent law attorney, please contact us via the contact form.

Patentability Searches – Determine the patentability of your inventions.
Freedom to Operate Searches & Opinions – Identify patents may give you potential infringement issues (including in the recording, communication or information retrieval equipment field).
Non-Infringement Opinions – Determine if your product infringes a competitor’s patent.
Patent Invalidity Searches & Opinions – Find prior art to invalidate a competitor’s patent.
U.S. Provisional Patent Applications – Receive cost-effective “patent pending” status for your invention.
U.S. Non-Provisional Patent Applications (Utility) – Apply for patent protection on the structural and functional aspects of your invention.
U.S. Design Patent Applications – Apply for patent protection on the ornamental appearance of your invention.