US 12,437,275 B2
Cryptographic currency for securities settlement
Paul Walker, New York, NY (US); and Phil J. Venables, New York, NY (US)
Assigned to Goldman Sachs & Co. LLC, New York, NY (US)
Filed by Goldman Sachs & Co. LLC, New York, NY (US)
Filed on Nov. 28, 2022, as Appl. No. 18/059,164.
Application 15/618,508 is a division of application No. 14/528,289, filed on Oct. 30, 2014, granted, now 9,704,143, issued on Jul. 11, 2017.
Application 18/059,164 is a continuation of application No. 15/618,508, filed on Jun. 9, 2017, granted, now 11,514,409.
Claims priority of provisional application 61/994,650, filed on May 16, 2014.
Prior Publication US 2023/0351339 A1, Nov. 2, 2023
Int. Cl. G06Q 20/06 (2012.01); G06Q 20/36 (2012.01); G06Q 20/38 (2012.01); G06Q 40/04 (2012.01); H04L 9/30 (2006.01); H04L 9/32 (2006.01); H04L 9/40 (2022.01); H04L 9/00 (2022.01)
CPC G06Q 20/06 (2013.01) [G06Q 20/065 (2013.01); G06Q 20/36 (2013.01); G06Q 20/3674 (2013.01); G06Q 20/3678 (2013.01); G06Q 20/382 (2013.01); G06Q 40/04 (2013.01); H04L 9/30 (2013.01); H04L 9/3236 (2013.01); H04L 9/3247 (2013.01); H04L 63/126 (2013.01); H04L 9/50 (2022.05); H04L 2209/56 (2013.01)] 21 Claims
OG exemplary drawing
 
1. A computer-implemented method comprising:
receiving, at a first computing node in a network, electronic transaction messages initiating a transaction involving an exchange of (i) a first cryptographic currency representing a first asset owned by a first user and (ii) a second cryptographic currency representing a second asset owned by a second user;
receiving, at the first computing node from second computing nodes in the network, electronic verification messages providing external verification that the first user owns the first cryptographic currency and the second user owns the second cryptographic currency;
initiating, by the first computing node, updates to copies of at least one ledger at the first and second computing nodes to reflect (i) a change in ownership of the first cryptographic currency from the first user to the second user and (ii) a change in ownership of the second cryptographic currency from the second user to the first user; and
in response to determining that at least one copy of the at least one ledger at the first computing node identifies at least a threshold number of prior transactions involving the first cryptographic currency, reducing a size of the at least one copy of the at least one ledger at the first computing node by compressing or condensing a subset of ledger entries related to at least some of the prior transactions using a verifiable hash;
wherein at least one of the first asset or the second asset represents a security.