This Popular Payment Provider Has Published Three Blockchain Patent Applications to Date

PayPal’s research and development pursuits have recently come into the spotlight, with a series of patent applications shedding light on their areas of focus.

The most recent application, filed in March 2022 and published on Thursday, takes a deep dive into the process of selecting validators or miners in blockchain transactions.

Three additional patent applications, all filed in March 2022, were unveiled on September 21.

The first of these patents introduces novel methods and systems for facilitating off-chain transactions within NFT marketplaces.

The second patent introduces the concept of the “omniverse,” a product designed to operate across multiple metaverses.

PayPal has devised an “online transaction processor” to suggest digital asset purchases based on a user’s blockchain preferences and their primary interactions within various metaverses.

The third patent outlines an online transaction processor with the aim of streamlining payments between users and merchants operating on different network layers (layer-1s and layer-2s).

PayPal has made a dramatic shift into cryptocurrency, following its introduction of a stablecoin in August and its enabling of its cryptocurrencies hub in August.

Coinlive previously reported on how the payments provider also saw fit to launch its native stablecoin, PYUSD.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.

Coinlive is a media company that focuses on Making Blockchain Simpler for everyone. We cover exclusive interviews, host events, and feature original articles on our platforms