MULTI-LAYER CRYPTOCURRENCY CONVERSIONS USING AVAILABLE BLOCKCHAIN OUTPUTS

Title:

MULTI-LAYER CRYPTOCURRENCY CONVERSIONS USING AVAILABLE BLOCKCHAIN OUTPUTS

Document Type and Number:

WIPO Patent Application WO/2023/177589

Kind Code:

A3

Abstract:

Methods and systems described herein may implement blockchain cryptocurrency transactions in a variety of environments. An online transaction processor may provide operations for cryptocurrency conversions. The transaction processor may detect that a user is involved in a cryptocurrency transaction with another entity, which is requested to be processed using an amount of cryptocurrency and using an off-chain amount of the cryptocurrency. The transaction processor may determine that the entity does not have a digital wallet, node, or the like on a layer two network to receive and/or process the off-chain balance for the cryptocurrency. The transaction processor may then, after a risk assessment, determine that the user may access the amount of the cryptocurrency from an on-chain balance available to a digital wallet of the cryptocurrency. The transaction processor may make that on-chain amount available and may request repayment via the user's off-chain balance.

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Inventors:

SAAD MUHAMMAD (US)
JOHNSON RAOUL (US)
BURGIS JAKUB (US)

Application Number:

PCT/US2023/015015

Publication Date:

November 02, 2023

Filing Date:

March 10, 2023

Export Citation:

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Assignee:

PAYPAL INC (US)

International Classes:

G06Q20/36; G06Q20/02; G06Q20/38; G06Q20/40; H04L9/00

Foreign References:

US20190066065A1	2019-02-28
US20140314090A1	2014-10-23
US20170317833A1	2017-11-02
US20200280433A1	2020-09-03
US20160071096A1	2016-03-10

Other References:

"Topics in cryptology - CT-RSA 2020 : the Cryptographers' Track at the RSA Conference 2020, San Francisco, CA, USA, February 24-28, 2020", vol. 12, 18 July 2020, CORNELL UNIVERSITY LIBRARY,, 201 Olin Library Cornell University Ithaca, NY 14853, article GUDGEON LEWIS; MORENO-SANCHEZ PEDRO; ROOS STEFANIE; MCCORRY PATRICK; GERVAIS ARTHUR: "SoK: Layer-Two Blockchain Protocols", pages: 201 - 226, XP047557190, DOI: 10.1007/978-3-030-51280-4_12

Attorney, Agent or Firm:

CHEN, Tom (US)

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