- Ripple Labs has acquired a patent invented by former Ripple CTO Stefan Thomas and Evan Schwartz.
- The patent claims the applying of sensible oracles for a platform based mostly on sensible contracts.
The US Patent and Trademark Workplace (USPTO) has granted Ripple Labs a patent entitled “System and technique for verifying sequence of directions of software program”. Filed by Ripple’s subsidiary in Luxembourg, the patent was pending since 2018. Within the document printed by the USPTO, the patent is attributed to former Ripple CTO Stefan Thomas and co-creator of the Interledger protocol Evan Schwartz.
Ripple patent options sensible oracles
The doc introduced by the Ripple subsidiary describes a software program execution system that includes sensible contracts. Particularly, the patent consists of a “sensible oracle” system that sends dependable and safe data to sensible contracts. The doc states:
(…) a outcome produced from an execution of a replica of the software program by a corresponding platform may be acquired from every of a plurality of platforms. Quite a lot of outcomes of execution of the software program may be decided. The extent to which the outcomes match may be in comparison with a threshold. The matching outcomes may be accepted as an agreed-upon output of the software program when the extent to which the outcomes match is the same as or higher than the edge. The software program can embody an implementation of not less than a portion of an act related to an settlement between not less than two entities.
On the exposition of a attainable use case, the patent explains that the system introduced can be utilized in “worth transfers” or in a mixture of transfers agreed upon by two entities. The switch could embody tangible or intangible belongings in response to the achievement of particular situations. The doc explains:
(…) it could contain a switch of worth corresponding to, for instance, an asset, a service, refraining from partaking in an allowed exercise, or any mixture thereof. The asset may be tangible corresponding to, for instance, a superb, cash, and the like. The asset may also be intangible corresponding to, for instance, a share of inventory, a bond, an possession curiosity, a spinoff, a future, an possibility, a swap, a contract, a lease, a license, mental property, digital foreign money, cryptocurrency, digital foreign money, and the like.
As is thought, there’s an curiosity from the cost options firm to implement sensible contracts on the XRP Ledger. Throughout his time at Ripple, Thomas was already engaged on a mission to be a competitor of Ethereum and be interoperable between completely different cryptocurrencies and the digital asset XRP. Nonetheless, Ripple’s former CTO left the corporate to discovered Coil and the mission didn’t yield tangible outcomes.
Regardless of that, as reported by CNF, Ripple’s funding arm, Xpring, made an funding in Flare Networks in late 2019. The platform will likely be launched in December and in line with its CEO, Hugo Philion, its quick purpose will likely be to permit XRP for use with sensible contracts through the Flare Community. Thus, the platform will likely be interoperable with different networks, corresponding to Ethereum.