US 12,380,498 B2
Systems and methods for operating a math-based currency exchange
Ashish B. Kurani, Burlingame, CA (US)
Assigned to Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed by Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed on May 24, 2023, as Appl. No. 18/201,341.
Application 18/201,341 is a continuation of application No. 17/833,480, filed on Jun. 6, 2022, granted, now 11,734,760.
Application 17/833,480 is a continuation of application No. 16/712,695, filed on Dec. 12, 2019, granted, now 11,354,738.
Application 16/712,695 is a continuation of application No. 14/562,059, filed on Dec. 5, 2014, granted, now 10,565,645.
Application 14/562,059 is a continuation in part of application No. 14/282,200, filed on May 20, 2014, granted, now 11,062,278.
Application 14/562,059 is a continuation in part of application No. 14/282,189, filed on May 20, 2014, granted, now 10,970,684.
Application 14/562,059 is a continuation in part of application No. 14/282,202, filed on May 20, 2014, granted, now 10,909,509.
Prior Publication US 2023/0298100 A1, Sep. 21, 2023
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 20 Claims
OG exemplary drawing
 
1. A method of performing exchanges of a math-based currency (“MBC”), the method comprising:
receiving, by a MBC transaction processor, an exchange request from a customer computing device for exchanging a first amount of a first currency for a second amount of a second currency;
determining, by an exchange processor, a current exchange rate for at least one different currency transaction comprising at least one exchange rate for the first currency to the second currency;
determining, by the exchange processor, an exchange sequence based on calculating a first value of the second currency when executing an exchange from the first currency to the second currency;
generating, by the MBC transaction processor, a first public and private key pair for the exchange request and a second public and private key pair associated with an excess MBC amount returning to a MBC account, wherein the first public and private key pair comprises a public key comprising a first address to initiate a transfer between an exchange partner and a customer, and wherein the second public and private key pair is stored in a pooled MBC account database, wherein the pooled MBC account database stores a plurality of public and private key pairs corresponding with a total amount of one or more currencies;
receiving, by the MBC transaction processor, an exchange confirmation from a computing system associated with the exchange partner;
updating, by an account balance processor, an account balance entry on an overlay ledger, wherein the overlay ledger tracks an association of amounts of the one or more currencies with each of a plurality of MBC accounts;
broadcasting, by the MBC transaction processor, the exchange request to at least one MBC verification node; and
updating, by the MBC transaction processor, a blockchain associated with the exchange request, wherein the first public and private key pair is stored at the first address in the pooled MBC account database, and wherein the second public and private key pair is stored at a second address in the pooled MBC account database;
wherein the overlay ledger comprises a plurality of MBC entries corresponding with a balance of MBC disassociated from the plurality of public and private key pairs of the pooled MBC account database, each of the plurality of MBC accounts correspond to an MBC entry of the plurality of MBC entries in the overlay ledger.