Blockchain validation. Funds between totally different community layers. Digital asset suggestions within the metaverse.
These are a few of the areas PayPal’s analysis and improvement efforts seem centered on, in accordance with a slate of not too long ago printed patent functions.
The latest utility, printed Thursday and initially filed in March 2022, delves into the main points of how validators or miners needs to be chosen in the course of the means of including transactions to the blockchain. The doc states that the corporate’s disclosed methods may “advantageously enable steering of blockchain requests to a desired subset of miners/validators.”
Three different patent functions, launched on Sept. 21, had been additionally filed in March 2022.
One supplied up supposedly new “strategies and techniques” to allow off-chain transactions via NFT marketplaces.
One other mentions the idea of a so-called omniverse, which on this context suggests a product that offers in a number of metaverses. PayPal says it developed an “on-line transaction processor” that would supply suggestions for which digital belongings a person can purchase primarily based on the person’s blockchain preferences and which metaverses they work together with most.
A 3rd describes one other conceptual on-line transaction processor. This processor’s purpose is to facilitate funds between customers and retailers working on totally different community layers (layer-1s and layer-2s) in a extra environment friendly method.
The functions, in sum, provide a window into PayPal’s pondering because it builds out its suite of crypto services.
For example, with PayPal releasing a stablecoin in August, these proposed present a window into the path of PayPal’s use of the expertise for funds. Venmo, the agency’s common cost app that enabled crypto transfers in Could.
PayPal didn’t instantly reply to Blockworks’ request for remark.
