ALEXANDRIA, Va., Jan. 20 -- United States Patent no. 12,530,675, issued on Jan. 20, was assigned to PAYPAL INC. (San Jose, Calif.).
"Hot wallet protection using a layer-2 blockchain network" was invented by Jakub Burgis (Scottsdale, Ariz.), Raoul Johnson (Scottsdale, Ariz.), Andrew Marshall (Scottsdale, Ariz.) and Muhammad Saad (Scottsdale, Ariz.).
According to the abstract* released by the U.S. Patent & Trademark Office: "Methods and systems for digital hot wallet protection are provided. A payment channel is established via a Layer-2 network of a cryptocurrency blockchain for transferring a cryptocurrency balance from a first digital wallet of a service provider to a second digital wallet of a trusted entity over a plurality of commitme...