Main page News

Payments giant Mastercard have registered a new patent claiming that the company developed a new way of keeping cryptocurrency transactions private, according to a patent application published Thursday by the U.S. Patent and Trademark Office.

As it was stated in the document, the payments giant has proposed a system of conducting transactions over a blockchain which would obfuscate both the point of origin and the amount being transacted.

The system would work by using an intermediate address during a transaction that interacts with the public key. The transaction data is then stored, while a new transaction and digital signature are generated using a private key. The new transaction data, which would contain the destination address and the payment amount, would be sent on.

Earlier we reported that Mastercard filed a patent for what seems to be a centralized cryptocurrency. Mastercard wants to apply principles of fractional reserve banking to cryptocurrencies.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Please describe the error