Blockchain validation. Funds between totally different community layers. Digital asset suggestions within the metaverse.
These are among the areas PayPal’s analysis and growth efforts seem centered on, in accordance with a slate of not too long ago revealed patent purposes.
The latest utility, revealed Thursday and initially filed in March 2022, delves into the small print of how validators or miners needs to be chosen throughout the means of including transactions to the blockchain. The doc states that the corporate’s disclosed methods might “advantageously enable steering of blockchain requests to a desired subset of miners/validators.”
Three different patent purposes, launched on Sept. 21, have been additionally filed in March 2022.
One supplied up supposedly new “strategies and programs” to allow off-chain transactions by way of 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 based mostly 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 objective 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 purposes, in sum, supply a window into PayPal’s considering because it builds out its suite of crypto services and products.
As an illustration, with PayPal releasing a stablecoin in August, these proposed present a window into the course of PayPal’s use of the expertise for funds. Venmo, the agency’s fashionable cost app that enabled crypto transfers in Could.
PayPal didn’t instantly reply to Blockworks’ request for remark.
