Microsoft has been granted a patent for a service that allows users to create crypto tokens.

Without a question, cryptocurrency is becoming more mainstream. At this point, there is no turning back. The dilemma is whether individuals will choose to board the moving train or risk being left behind. Microsoft, as one of the world's largest corporations, does not appear to want to be left behind. Microsoft was granted a patent for a distributed ledger, but not for its own blockchain.

Companies like Microsoft are becoming increasingly concerned about the growth of blockchains like Bitcoin and Ethereum. While their services are still in high demand today, blockchains' popularity suggests that they may become outdated in the not-too-distant future. As a result, firms must now supply these services so that individuals can continue to create on their platforms.

Blockchain vs. Microsoft Distributed Ledger

While a distributed ledger and a blockchain are comparable, they are not the same. Despite the fact that its functions are similar to those of a distributed ledger. A distributed ledger, according to FINRA, is a record of consensus that includes a cryptographic audit trail that is maintained and certified by nodes. This can be done in either a centralized or decentralized manner. A blockchain, on the other hand, is a method of implementing a distributed ledger. However, it's worth noting that not all distributed ledgers use blockchains.

This is what Microsoft was given permission to do. This ledger will work in the same way as a blockchain. However, it is not a blockchain. The patent outlines certain details regarding the distributed ledger that Microsoft was granted permission to use. What matters in the cryptocurrency world are its applications.

Users will be able to create and manage tokens using Microsoft's distributed ledger. Due to a lack of consistency across multiple blockchains, this process is currently "complex and tedious," according to the patent. As a result, the Microsoft distributed ledger will assist in making this process more straightforward and smooth.

How Will Crypto Tokens Be Created?

According to the patent, the ledger-independent token service will supply users with one or more token templates. These templates will be associated with a specific sort of physical or digital item. Defining a set of one or more properties or controls that will be connected with the template of choice. The machine will then utilize the selected template to create a token on the distributed ledger network.

Microsoft's distributed ledger templates will provide customers with a wide range of functions. These will cover things like transferring, mining, and burning tokens in large volumes. These templates can be used by anyone to quickly construct and issue their own crypto tokens on the market. This service's start date has yet to be disclosed. The patent approval is a significant step forward for the company. As crypto becomes more mainstream, Microsoft will be able to keep its millions of users around the world.


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