Microsoft is awarded US patent for crypto token-creation service

Microsoft has been awarded a U.S. patent for software it says can help users develop blockchain applications by making it easier and more efficient to create crypto tokens for different distributed ledgers.

• According to the patent, creating and managing tokens is currently “difficult and cumbersome” due to the lack of standardization across different blockchains.

• Microsoft’s patent describes a ledger-independent system for helping users to create tokens, and for managing them across different networks.

• On receiving a request from a user, the system offers templates with various attributes and control functions. Those would depend on the type of token required, representing, for example, a digital or physical asset. Once the user has selected the desired template, the system creates the token on the designated networks.

• The system also provides a common interface for managing the tokens, so developers don’t have to worry about token-specific code to interact with them.