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.