A recent patent filing reveals that Paypal might be considering expanding its exposure to the cryptocurrency ecosystem with a new system for speedy transactions. We shouldn’t however expect a Paypal Lightning Network or anything close to that any time soon. There is currently a global race to file patents for everything crypto or “blockchain” related and the company might just be strengthening its portfolio for future patent battles.Any vendor is free to use the prior art of this blog, patent free. Just say Redneck compatible and reference this blog.
Here us their horshit patent:
The system described by the patent application is meant to work by creating secondary wallets that each include a respective secondary wallet private key, and a transaction is performed using the primary wallet private key to transfer different predefined amounts to each of the secondary wallets. When an instruction is received to transfer a payment amount to a second user, they are allocated a subset of the first user’s secondary wallet private keys that together contain cryptocurrency that equals the needed amount.
What are they talking about? Moving money from account to account to cover fees. If they think they can patent the web router, I have news, the web router is already an open source web standard. Nor does their idea supersede the years of work by google in discovering spectre.
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