US Patent And Trademark Office Grants Patent To Microsoft Technology Licensing
Microsoft’s desire to own a non-ledger-dependent token management system offering is now fulfilled. The most recent information from the US Patent and trademark office (USPTO) showed that the office had patented the top multinational company the patent.
It took over two years for the USPTO to approve Microsoft’s patent request. The rising popularity of the crypto space and blockchain sector has attracted several US organizations into the industry. Data from a leading bank in America reveal that there have been almost 230 patent approvals in the first half of this year and 9% of them are cryptocurrency-related.
About Microsoft’s Patented Token System
According to Microsoft, no blockchains have any standardization. Thus, it is a serious struggle to create and manage tokens. But users can create and manage tokens regardless of the networks through its token system.
When a user receives a token request, this user can choose from various templates that correspond with the request. Then, the system takes it up from there by creating the token on the appropriate network.
The user can also manage the token through a common interface. Thus, developers need to concern themselves with the token code for different networks. The multinational giant has shown a massive interest in the digital asset space in the last few years.
In 2020, it filed a person-enabled crypto mining system that allows anyone to mine cryptocurrency through their body activity data. Thus, eliminating the need for any mining rig.
Powerbridge Tech Buys Over 5,500 Crypto Mining Machines
Powerbridge tech has revealed a new partnership with Cryptodigital holdings ltd. Part of the agreement will be for the blockchain application provider to purchase over 5,500 cryptocurrency mining machines from Cryptodigital holdings, with the supply due for October this year.
Out of these mining machines, 2,000 will be for Bitcoin mining and consist of the high hash rate Antminer models. The remaining ones will be used for Ethereum mining and consist of the RTX models. Commenting on the development, Powerbridge tech president stated that he expects a significant rise in his company’s BTC and eth mining capabilities.
He also said that the company would continue improving its technology to enhance its mining capacities. After the news of this new partnership broke out, the tech firm’s shares surged by over 11%.
Crypto Miners’ Woes Not Yet Over
Powerbridge’s new mining machines will significantly affect the mining industry despite many of the current miners struggling to make profits. Chinese miners are the worst affected following their ban from the country and the government’s aggressive actions in ensuring that the miners aren’t still operating illegally.
Even some Chinese provinces have been cutting off hydropower supply for miners still left in the region. Two days ago, Yunnan authorities released a warning notice to all miners that they must cease to run any mining farm and destroy their data hubs, or they would be made to face legal reprimands that would follow their disobedience.
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