US Patent Issued to PAYPAL on July 21 for "Multi-layer cryptocurrency conversions using available blockchain outputs" (Arizona Inventors)

ALEXANDRIA, Va., July 21 -- United States Patent no. 12,688,496, issued on July 21, was assigned to PAYPAL INC. (San Jose, Calif.).

"Multi-layer cryptocurrency conversions using available blockchain outputs" was invented by Muhammad Saad (Scottsdale, Ariz.), Raoul Johnson (Scottsdale, Ariz.) and Jakub Burgis (Scottsdale, Ariz.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Methods and systems described herein may implement blockchain cryptocurrency transactions in a variety of environments. An online transaction processor may provide operations for cryptocurrency conversions. The transaction processor may detect that a user is involved in a cryptocurrency transaction with another entity, which is requested t...