US Patent Issued to PAYPAL on June 2 for "Methods and systems for transferring unspent transaction output (UTXO) tokens in a blockchain network" (California Inventors)

ALEXANDRIA, Va., June 2 -- United States Patent no. 12,646,047, issued on June 2, was assigned to PAYPAL INC. (San Jose, Calif.).

"Methods and systems for transferring unspent transaction output (UTXO) tokens in a blockchain network" was invented by Charles Gabriel Neale Dalton (San Jose, Calif.) and Liam Julian DiGregorio (Manhattan Beach, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Mechanisms for efficiently transferring multiple unspent transaction output (UTXO) tokens in a blockchain network operating a UTXO-based token transaction model are disclosed herein. These methods allow for the use of less computer processing and network bandwidth resources in the transfer of blockchain items, particul...