30 August 2021
Microsoft has been granted a patent on a token-creation service that allows developers to create tokens that operate across different blockchain protocols. The patent for a “ledger-independent token service” seems to be geared to the needs of enterprise blockchains, but the technology could apply to the crypto world at large, including applications in the decentralized finance market.
DeFi apps are currently limited to operation on particular blockchains. Although some apps have taken advantage of chain-to-chain bridging services, there has not been a blockchain-independent token-minting service until now. Options for cross-ledger transactions and token reuse have been limited.
Microsoft’s technology could allow developers to create code for tokens on multiple platforms at once. The technology could potentially benefit anyone who writes applications based on smart contracts.
Microsoft has not announced when or whether it will create a product or service based on the newly patented technology.