U.S. Patent 10659223 was awarded to nChain Holdings Limited on May 19, 2020 and is entitled “Secure multiparty loss resistant storage and transfer of cryptographic keys for blockchain based systems in conjunction with a wallet management system.” The first named inventor is Craig Steven Wright of London, . The abstract contains an overview of the patent disclosure:

A solution for controlling access to a resource such as a digital wallet implemented using a blockchain. Use of the invention during set up of the wallet can enable subsequent operations to be handled in a secure manner over an insecure channel. An example method comprises splitting a verification element into multiple shares; determining a common secret at multiple nodes in a network; and using the common secret to transmit a share of the verification element between nodes. The shares can be split such that no share is sufficient to determine the verification element and can be stored at separate locations. Upon share unavailability, the share can be retrieved a location accessibility. For safe transmission of the share(s), the common secret is generated at two different nodes independently and used to generate an encryption key for encrypting at least one share of the verification element to be transmitted securely. Link to Full Patent

This blockchain patent was originally filed on August 23, 2018  as U.S. Patent Application 16/111022 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10659223. The primary examiner was Aravind K Moorthy.

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 5 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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