US Patent Issued to SALT Blockchain on Nov. 3 for "Secure hardware cryptocurrency keystore and key generation ceremony" (Colorado Inventors)

ALEXANDRIA, Va., Nov. 3 -- United States Patent no. 12,785,992, issued on Nov. 3, was assigned to SALT Blockchain Inc. (Denver).

"Secure hardware cryptocurrency keystore and key generation ceremony" was invented by Scott Dirk Anderson (Erie, Colo.) and Andrew J. May (Denver).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method and apparatus for a secure hardware cryptographic keystore for custody of cryptocurrency funds (and other digital such as NFTs) which ensures no individual participant in key generation or transaction signing ever has access to the full key or even a complete key-part, thereby eliminating the traditional need to rotate keys and re-encrypt data when authorized key-holders change. The ...