System and method for optimizing cryptocurrency transactions

Patent metadata

Field	Value
Publication number	US-12248932-B2
Application number	US-202017091237-A
Country	US
Kind code	B2
Filing date	Nov 6, 2020
Priority date	Dec 21, 2018
Publication date	Mar 11, 2025
Grant date	Mar 11, 2025

Abstract

In the disclosed transaction processing system, a system and method are described that increase the ease of access and use of different currency networks by consumers using customizable transaction devices. The customizable transaction devices may be re-programmed prior to or during a currency transaction in accordance with the consensus protocol of the currency network associated with the currency transaction. The currency network further includes one or more host devices, each of which include an interface configured to communicate with a transaction device for the purposes of re-programming a Field Programmable Gate Array (FPGA) of the transaction device according to one or more currency network consensus protocols. Optimizing the performance of transaction devices for proof-of-work or other consensus protocol processing decreases the latency associated with validating currency network transactions, thereby increasing the suitability of cryptocurrency for retail transactions.

First claim

What is claimed is:

1. A method for processing transactions received at a host device from transaction devices that are members of a payment network that uses a distributed ledger to manage currency, the method comprising:
receiving, at the host device, insertion of a transaction device into one of a plurality of programming slots, the transaction device comprising a smart card and the programming slot configured to receive insertion of the smart card into the programming slot;
receiving, by the host device, a currency exchange transaction from the transaction device, the currency exchange transaction including a request to exchange a currency having a first currency type for a currency having a second currency type;
determining whether the transaction device is configured to support the currency exchange transaction of the first currency type or the second currency type;
responsive to determining that the transaction device is configured to support the currency exchange transaction of the first currency type or the second currency type, selectively instructing re-programming of the transaction device for configuration according to the first currency type or the second currency type to perform the currency exchange transaction;
indicating to the transaction device that re-programming of the transaction device is completed to perform the currency exchange transaction;
processing and validating the currency exchange transaction following selectively instructing re-programming the transaction device, wherein the host device is configured to communicate with the transaction device through the corresponding programming slot to use processing power of the transaction device to perform validation of the currency exchange transaction.

2. The method of claim 1 further including:
receiving, at the host device, insertion of a second transaction device into another of the plurality of programming slots, wherein the host device is configured to communicate with the second transaction device via the programming slot of the second transaction device to also use processing power of the second transaction device to perform validation of the currency exchange transaction; and
wherein the plurality of programming slots of the host device is further configured to receive insertion of transaction devices comprised of a smart phone, a handheld personal computer (PC), and a tablet PC, and wherein the second transaction device is a smart phone, handheld PC, or a tablet PC.

3. The method of claim 2 wherein processing the currency exchange transaction includes determining a transaction fee to process the transaction using the payment network.

4. The method of claim 1 wherein determining whether the transaction device is configured to support transactions of the first currency type or the second currency type includes determining whether currency programming types of one or more FPGAs or one or more cached program code of the transaction device correspond to the first currency type or the second currency type.

5. The method of claim 3 wherein the transaction fee is determined in terms of one of a protocol of the payment network or a transaction device processing time.

6. The method of claim 5 wherein the currency exchange transaction includes a blockchain update request including information related to an account value to support the currency exchange transaction and a transaction value identifying a value of the transaction.

7. The method of claim 6 further including:
retrieving a copy of the blockchain associated with the account, the copy of the blockchain including an account value copy;
comparing the account value copy to the account value of the currency exchange transaction;
comparing the transaction value of the currency exchange transaction to the account value copy; and
in response to the steps of comparing, selectively authorizing the currency exchange transaction.

8. The method of claim 7 further including using the processing power of the transaction device to satisfy the transaction fee prior to selectively authorize the transaction.

9. The method of claim 8 wherein indicating to the transaction device further includes providing a combination of one or more of a visual, audible or haptic feedback by the transaction device.

10. The method of claim 9 , further including:
receiving a third currency type from a second transaction device;
determining whether the second transaction device is configured to support transactions of the third currency type;
responsive to determining whether the second transaction device is configured to support transactions of the third currency type, selectively re-programming the second transaction device in accordance with the third currency type, the steps of selectively re-programming the transaction device and selectively re-programming the second transaction device overlapping for at least a portion of a re-programming period; and
indicating to the second transaction device that re-programming of the second transaction device is completed.

11. The method of claim 10 , wherein the first currency type and the third currency type use a common currency consensus protocol.

12. The method of claim 11 wherein the first currency type and the third currency type each impose a different currency protocol.

13. An apparatus, comprising:
a processor;
a plurality of programming slots for receiving insertion of transaction devices for reprogramming of the transaction device; and
memory comprising instructions that when executed by the processor, cause the processor to:
process a first currency type from a transaction device inserted into one of the programming slots, the transaction device comprising a smart card;
determine whether the transaction device is configured to support currency exchange transactions between currency having the first currency type and currency having a second currency type;
selectively instructing re-programming of the transaction device for configuration according to the first currency type or the second currency type in response to the transaction device being configured to support currency exchange transactions between the first currency type and the second currency type;
communicate an indication to the transaction device that re-programming of the transaction device is completed; and
process and validate the currency exchange transaction following selectively instructing re-programming the transaction device, wherein the apparatus is configured to communicate with the transaction device via the programming slot to use processing power of the transaction device to perform validation of the currency exchange transaction.

14. The apparatus of claim 13 ,
wherein the apparatus is further configured to communicate with a second transaction device inserted into a second programming slot to also use processing power of the second transaction device to perform validation of the currency exchange transaction; and
wherein the plurality of programming slots of the apparatus is further configured to receive insertion of transaction devices comprised of a smart phone, a handheld personal computer (PC), and a tablet PC, and wherein the second transaction device is a smart card, smart phone, handheld PC, or a tablet PC.

15. The apparatus of claim 14 , wherein the processor is further to determine a transaction fee to process the transaction using a payment network, and wherein the transaction fee is determined in terms of one of a protocol of the payment network or a transaction device processing time.

16. The apparatus of claim 14 , wherein t

Assignees

• Capital One Services Llc

Inventors

• Walters Austin Grant
• Goodsitt Jeremy Edward
• Abdi Taghi Abad Fardin
• Truong Anh
• Pham Vincent

Classifications

• G06Q20/401

  Transaction verification · CPC title

• G06Q2220/00

  Business processing using cryptography · CPC title

• G07F7/0873

  Details of the card reader · CPC title

• G06Q20/356

  Aspects of software for card payments · CPC title

• G06Q20/325

  using wireless networks · CPC title