Digital Asset Holdings has been granted a patent for a method that models digital assets and their evolution concerning multiple parties’ rights. The system involves executing functions requiring party consent and storing results in an append-only ledger, ensuring secure and validated transactions across a network of nodes. GlobalData’s report on Digital Asset Holdings gives a 360-degree view of the company including its patenting strategy. Buy the report here.
According to GlobalData’s company profile on Digital Asset Holdings, E-transaction tamperproofing was a key innovation area identified from patents. Digital Asset Holdings's grant share as of June 2024 was 47%. Grant share is based on the ratio of number of grants to total number of patents.
Modeling digital assets and managing rights using blockchain technology
The granted patent US11983706B2 outlines a computer-implemented method for managing digital assets and their associated rights among multiple parties. The method involves determining the rights of these parties concerning a digital asset, which can be manipulated through a designated function instance. This function instance includes a choice for the asset's disposition. The process further entails generating a proposed transaction aimed at updating an append-only ledger, which is maintained across various nodes in a computer network. Key components of the proposed transaction include cryptographic authorizations from nodes, identification of nodes authorized to execute the transaction, and a private subset of nodes entitled to receive transaction information. The method also emphasizes validating the cryptographic authorizations before executing the function instance and committing the results to the ledger.
Additionally, the patent details various features of the proposed transaction, such as the inclusion of transient ledger entries and outputs that consist of ledger entries. It specifies that each ledger entry can either destroy an existing entry or create a new one. The method allows for granular authorization, where specific nodes must authorize individual ledger entries, and ensures that only relevant nodes receive the necessary transaction data. Furthermore, the append-only ledger is structured to include both a private ledger for select nodes and a public ledger that contains a cryptographic representation of the committed transaction, such as a hash. This comprehensive approach aims to enhance the security and integrity of digital asset transactions within a decentralized network.
To know more about GlobalData’s detailed insights on Digital Asset Holdings, buy the report here.
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