U.S. Patent 11159313 was awarded to nChain Holdings Limited on October 26, 2021 and is entitled “Methods and systems for blockchain-implemented event-lock encryption.” The first named inventor is John Fletcher of Cambridge, . The abstract contains an overview of the patent disclosure:

There may be provided a computer-implemented method. It may be implemented at least in part using a blockchain network such as, for example, the Bitcoin network. The computer-implemented method includes: i) encrypting a plaintext message to a cryptographic public key in accordance with an identity-based encryption scheme using at least a congress public key to generate an encrypted message, wherein the congress public key is associated with members of a congress, respective members of the congress having access to private key shares usable in a threshold decryption scheme in which at least a threshold of private key shares are sufficient to derive a decryption key through the combination of partial contributions to the decryption key on behalf of the congress; ii) generating, using at least a cryptographic private key corresponding to the cryptographic public key, a digital signature over a first set of instructions to perform cryptographic operations upon an occurrence of an event; and iii) broadcasting one or more transactions to a proof-of-work blockchain network, the one or more transactions comprising the encrypted message, the cryptographic public key, at least the first set of instructions, and a second set of instructions to the members of the congress to cooperate to: in response to reaching a consensus on the event occurring and contingent upon the digital signature being authentic, deploy a ghost chain to perform the first set of instructions, wherein performing the first set of instructions includes at least deriving the decryption key from the cryptographic key and a plurality of private key shares that satisfies the threshold, the decryption key being sufficient cryptographic material to obtain the plaintext message from the encrypted message. Link to Full Patent

This blockchain patent was originally filed on July 16, 2018  as U.S. Patent Application 16/633556 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 11159313. The primary examiner was Maung T Lwin.

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.

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