US Patent Issued to NCHAIN LICENSING on Aug. 11 for "System for recording verification keys on a blockchain" (British, Luxembourger Inventors)

ALEXANDRIA, Va., Aug. 12 -- United States Patent no. 12,706,920, issued on Aug. 11, was assigned to NCHAIN LICENSING AG (Zug, Switzerland).

"System for recording verification keys on a blockchain" was invented by Alexandra Covaci (Canterbury, Great Britain), Simone Madeo (London), Patrick Motylinski (London) and Stephane Vincent (Luxembourg).

According to the abstract* released by the U.S. Patent & Trademark Office: "Systems and methods described herein relate to the execution of locking transactions in a blockchain system. In the context of smart contracts, it may be advantageous to have a public record (e.g., recorded on a blockchain) of a proof of correct execution of a circuit published by a worker and the verification key, thereby al...