Cryptocurrency transactions using debit and credit values

Patent metadata

Field	Value
Publication number	US-10769600-B2
Application number	US-201615275996-A
Country	US
Kind code	B2
Filing date	Sep 26, 2016
Priority date	Sep 26, 2016
Publication date	Sep 8, 2020
Grant date	Sep 8, 2020

Abstract

An embodiment of a computer implemented method for transferring cryptocurrency amounts includes receiving, by a processing device, a request to transfer an amount of a cryptocurrency from a first storage location. The method also includes, in response to the request, automatically generating a credit value and a debit value as a related pair, each of the credit value and the debit value having an identifier that relates the credit value and the debit value to the amount of the cryptocurrency, one of the credit value and the debit value being a positive value and another of the credit value and the debit value being a negative value, and transferring the amount of the cryptocurrency by the transaction module from a wallet connected to the transaction module to a second storage location.

First claim

What is claimed is:

1. A computer implemented method for transferring cryptocurrency amounts, the method comprising:
receiving, by a processing device, a request to transfer an amount of a cryptocurrency from a first storage location, the first storage location including a first wallet owned by a payer and storing an amount of cryptocurrency;
transmitting the request to a transaction module configured to perform a transfer of the amount of the cryptocurrency, the transaction module being part of a distributed ledger network including a distributed ledger maintained by the payer and a payee;
in response to the request, initiating a transaction by the transaction module, generating a credit value and a debit value as a related pair, the credit and debit value independently transferable and representing the amount of the cryptocurrency, broadcasting the transaction, the credit value and the debit value to the distributed ledger network, and transferring the debit value to the payer and transferring the credit value to the payee, each of the credit value and the debit value having an identifier that relates the credit value and the debit value to the amount of the cryptocurrency, one of the credit value and the debit value being a positive value and another of the credit value and the debit value being a negative value, at least one of the credit value and the debit value applied as an input to a transaction record in the distributed ledger network; and
transferring the amount of the cryptocurrency by the transaction module from a wallet connected to the transaction module to a second storage location, the second storage location including a second wallet owned by the payee, wherein transferring the amount includes transferring the credit value from the payer to the payee, the debit value and the credit value configured to be cancelled by the payee to complete the transaction.

2. The method of claim 1 , wherein the processing device and the second storage location are connected to a network, and transferring the amount of the cryptocurrency includes storing information regarding the transfer in a distributed ledger, the distributed ledger stored by a plurality of nodes connected to the network.

3. The method of claim 2 , wherein the distributed ledger is a blockchain.

4. The method of claim 3 , wherein the debit value is less than or equal to the amount of the cryptocurrency.

5. The method of claim 1 , wherein generating the credit value and the debit value includes generating the transaction record configured to be transmitted from the processing device, and inputting the credit value and the debit value to the transaction record.

6. The method of claim 5 , wherein generating the credit value and the debit value includes inputting the amount of the cryptocurrency as an input to the transaction record, and outputting the amount of the cryptocurrency and one of the credit value and the debit value from the transaction record.

7. The method of claim 5 , wherein generating the credit value and the debit value includes outputting the credit value and the debit value from the transaction record, and transmitting the credit value and the debit value to different storage locations.

8. The method of claim 1 , wherein transferring the amount of the cryptocurrency includes transferring the cryptocurrency amount with the debit value to the payee to complete the transaction.

9. A system for transferring cryptocurrency amounts, the system comprising:
a processing device connected to a network and configured to transfer cryptocurrency amounts, the processing device operably coupled to a memory; and
a transaction module stored in the memory, the transaction module being part of a distributed ledger network including a distributed ledger maintained by the payer and a payee, the transaction module including program instructions to cause the processing device to perform:
receiving a request to transfer an amount of a cryptocurrency from a first storage location, the first storage location including a first wallet owned by a payer and storing an amount of cryptocurrency;
in response to the request, initiating a transaction by the transaction module, generating a credit value and a debit value as a related pair, the credit and debit value independently transferable and representing the amount of the cryptocurrency, broadcasting the transaction, the credit value and the debit value to the distributed ledger network, transferring the debit value to the payer and transferring the credit value to the payee, each of the credit value and the debit value having an identifier that relates the credit value and the debit value to the amount of the cryptocurrency, one of the credit value and the debit value being a positive value and another of the credit value and the debit value being a negative value, at least one of the credit value and the debit value applied as an input to a transaction record in the distributed ledger network; and
transferring the amount of the cryptocurrency by the transaction module from a wallet connected to the transaction module to a second storage location, the second storage location including a second wallet owned by the payee, wherein transferring the amount includes transferring the credit value from the payer to the payee, the debit value and the credit value configured to be cancelled by the payee to complete the transaction.

10. The system of claim 9 , wherein transferring the amount of the cryptocurrency includes storing information regarding the transfer in a distributed ledger, the distributed ledger stored by a plurality of nodes connected to the network.

11. The system of claim 10 , wherein the processing device is configured to transfer the cryptocurrency amounts in a cloud environment.

12. The system of claim 10 , wherein the debit value is less than or equal to the amount of the cryptocurrency.

13. The system of claim 9 , wherein generating the credit value and the debit value includes generating the transaction record configured to be transmitted from the processing device, and inputting the credit value and the debit value to the transaction record.

14. The system of claim 13 , wherein generating the credit value and the debit value includes inputting the amount of the cryptocurrency to the transaction record, and outputting the amount of the cryptocurrency and one of the credit value and the debit value from the transaction record.

15. The system of claim 13 , wherein generating the credit value and the debit value includes outputting the credit value and the debit value from the transaction record, and transmitting the credit value and the debit value to different storage locations.

16. The system of claim 9 , wherein transferring the amount of the cryptocurrency includes transferring the cryptocurrency amount with the debit value to the payee to complete the transaction.

17. A computer program product for transferring cryptocurrency amounts, the computer program product comprising a computer readable storage medium having program instructions embodied therewith, the program instructions executable by a processor to cause the processor to perform:
receiving, by a processing device, a request to transfer an amount of a cryptocurrency from a first storage location, the first storage location including a first wallet owned by a payer and storing an amount of cryptocurrency;
transmitting the request to a transaction module configured to perform a transfer of the amount of the cryptocurrency, the transaction module being part of a distributed ledger network including a distri

Assignees

• IBM

Inventors

• Chen Chang
• Sun Ke Wei

Classifications

• H04L63/12

  Applying verification of the received information (cryptographic mechanisms or cryptographic arrangements for data integrity or data verification H04L9/32) · CPC title

• H04L9/50

  using hash chains, e.g. blockchains or hash trees · CPC title

• G06Q20/065 Primary

  using e-cash · CPC title

• G06Q20/10 Primary

  specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems · CPC title

• G06Q20/382

  insuring higher security of transaction · CPC title