ALEXANDRIA, Va., Aug. 5 -- United States Patent no. 12,701,015, issued on Aug. 4, was assigned to International Business Machines Corp. (Armonk, N.Y.).
"HTLC with proof of elapsed time" was invented by Angelo De Caro (Zurich, Switzerland), Yacov Manevich (Haifa, Israel) and Luca De Feo (Ruschlikon, Switzerland).
According to the abstract* released by the U.S. Patent & Trademark Office: "An example operation may include one or more of generating a hashed timelock contract (HTLC) of an asset and storing the HTLC in a storage structure, where the HTLC requires proof of a condition by a receiver within a predetermined amount of time for the receiver to unlock the asset, executing, via a processing device, a sequential computation a predetermi...