US 12,248,932 B2
System and method for optimizing cryptocurrency transactions
Austin Grant Walters, Savoy, IL (US); Jeremy Edward Goodsitt, Champaign, IL (US); Fardin Abdi Taghi Abad, Champaign, IL (US); Anh Truong, Champaign, IL (US); and Vincent Pham, Champaign, IL (US)
Assigned to Capital One Services, LLC, McLean, VA (US)
Filed by Capital One Services, LLC, McLean, VA (US)
Filed on Nov. 6, 2020, as Appl. No. 17/091,237.
Application 17/091,237 is a continuation of application No. 16/230,437, filed on Dec. 21, 2018, granted, now 10,861,008.
Prior Publication US 2021/0056542 A1, Feb. 25, 2021
Int. Cl. G06Q 20/36 (2012.01); G06Q 20/40 (2012.01)
CPC G06Q 20/3678 (2013.01) [G06Q 20/401 (2013.01); G06Q 2220/00 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method for processing transactions received at a host device from transaction devices that are members of a payment network that uses a distributed ledger to manage currency, the method comprising:
receiving, at the host device, insertion of a transaction device into one of a plurality of programming slots, the transaction device comprising a smart card and the programming slot configured to receive insertion of the smart card into the programming slot;
receiving, by the host device, a currency exchange transaction from the transaction device, the currency exchange transaction including a request to exchange a currency having a first currency type for a currency having a second currency type;
determining whether the transaction device is configured to support the currency exchange transaction of the first currency type or the second currency type;
responsive to determining that the transaction device is configured to support the currency exchange transaction of the first currency type or the second currency type, selectively instructing re-programming of the transaction device for configuration according to the first currency type or the second currency type to perform the currency exchange transaction;
indicating to the transaction device that re-programming of the transaction device is completed to perform the currency exchange transaction;
processing and validating the currency exchange transaction following selectively instructing re-programming the transaction device, wherein the host device is configured to communicate with the transaction device through the corresponding programming slot to use processing power of the transaction device to perform validation of the currency exchange transaction.