US 12,093,999 B2
Systems and methods for converting cryptocurrency
Jeevan Maathur, San Francisco, CA (US); Sahil Amoli, San Francisco, CA (US); Bojan Joveski, San Francisco, CA (US); and John Zettler, San Francisco, CA (US)
Assigned to Coinbase, Inc., Oakland, CA (US)
Filed by Coinbase, Inc., San Francisco, CA (US)
Filed on Jun. 17, 2021, as Appl. No. 17/350,539.
Claims priority of provisional application 63/067,556, filed on Aug. 19, 2020.
Claims priority of provisional application 63/040,360, filed on Jun. 17, 2020.
Prior Publication US 2021/0398211 A1, Dec. 23, 2021
Int. Cl. G06Q 40/04 (2012.01); G06Q 20/06 (2012.01); G06Q 20/38 (2012.01); G06Q 20/40 (2012.01)
CPC G06Q 40/04 (2013.01) [G06Q 20/065 (2013.01); G06Q 20/389 (2013.01); G06Q 20/401 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A custodial cryptocurrency system configured to perform automated batch-signed cryptocurrency conversions for reducing block confirmation monitoring resources, the system comprising at least one processor and at least one memory storing computer-executable instructions that, when executed by the at least one processor, cause operations comprising:
storing a custodial key collection of private keys via different storage schemes comprising a hot storage scheme and a cold storage scheme, wherein a first portion of the custodial key collection is stored in a hot storage system via the hot storage scheme, and a second portion of the custodial key collection is stored in a cold storage system via the cold storage scheme;
generating and providing, via a user device of a user, a user interface comprising an option to select and convert a plurality of cryptocurrencies associated with different blockchain protocols, including a first cryptocurrency and a second cryptocurrency, to a single blockchain token different from the plurality of cryptocurrencies;
in response to a single user action via the user interface that indicates a user selection of the plurality of cryptocurrencies, receiving, from the user device, a request to convert the plurality of cryptocurrencies, including the first cryptocurrency and the second cryptocurrency, to the single blockchain token, wherein each of the plurality of cryptocurrencies is associated with a blockchain address, each of the blockchain addresses being controlled by a particular custodial private key of the custodial key collection stored by the custodial cryptocurrency system; and
in response to receiving the request to convert the plurality of cryptocurrencies, performing the following operations without any further user input of the user after the single user action:
determining, based on network transaction volumes of a blockchain that are anticipated at a future time, one or more network speeds corresponding to network fees for a plurality of unsigned blockchain transactions that are predicted to reduce blockchain processing delays related to the blockchain;
generating the unsigned blockchain transactions respectively indicating (i) the network fees for the unsigned blockchain transactions and (ii) transfers of the plurality of cryptocurrencies to intermediary blockchain addresses;
accessing the custodial private keys that each correspond to a different blockchain protocol;
signing each of the unsigned blockchain transactions with a corresponding custodial private key of the custodial private keys controlling the blockchain addresses;
broadcasting the signed blockchain transactions together as part of a batch to the blockchain;
generating a plurality of conversion requests, the plurality of conversion requests comprising first and second conversion requests to respectively convert first and second cryptocurrencies to the single blockchain token; and
in response to detecting completion of all the signed blockchain transactions on the blockchain, executing the plurality of conversion requests together as part of the batch.