US-12621154-B2 - Devices and methods for consolidating serialized tokens

US12621154B2US 12621154 B2US12621154 B2US 12621154B2US-12621154-B2

Abstract

Methods and computing devices for consolidating tokens in a token system. The method may include receiving an instruction to consolidate two or more serialized tokens, each token having a respective serial number that includes a root identifier, a denomination code, and a leaf identifier allocated to that denomination code. The tokens are of denominations that, when summed, equate to a larger denomination. The method may include identifying a candidate root identifier and candidate leaf identifier, wherein the candidate leaf identifier is allocated to the larger denomination; determining that the candidate root identifier and the candidate leaf identifier are available for use; generating a new token having a new serial number containing the candidate root identifier, the candidate leaf identifier, and a denomination code corresponding to the larger denomination; and notifying an issuer computing device of consolidation and deactivation of the two or more serialized tokens resulting in the new token.

Inventors

Steven Patrick COUGHLAN
Wei Zhang
Chloe TARTAN

Assignees

NCHAIN LICENSING AG

Dates

Publication Date: 20260505
Application Date: 20220426
Priority Date: 20210430

Claims (20)

1 . A computer-implemented method of consolidating tokens by a computing device in a token system, the method comprising: receiving an instruction to consolidate two or more serialized tokens, each token having a respective serial number, each serial number containing a respective root identifier, a denomination code, and a leaf identifier allocated to that denomination code, wherein denomination codes for the two or more serialized tokens represent denominations selected from among a defined ordered set of denominations that when summed equate to a larger denomination from the defined ordered set of denominations; determining that the two or more serialized tokens include at least two respective serial numbers having different respective root identifiers or at least two leaf identifiers having different parents; identifying a candidate root identifier and candidate leaf identifier, wherein the candidate leaf identifier is allocated to the larger denomination; determining that the candidate root identifier and the candidate leaf identifier, in combination, are available for use; generating a new token having a new serial number containing the candidate root identifier, the candidate leaf identifier, and a denomination code corresponding to the larger denomination; and notifying an issuer computing device of consolidation and deactivation of the two or more serialized tokens resulting in the new token.
2 . The method claimed in claim 1 , wherein a bit-space for root identifiers is partitioned into a first bit-space of root identifiers associated with issued tokens and a second bit-space of root identifiers associated with consolidated tokens, and wherein identifying a candidate root identifier includes selecting the candidate root identifier from the second bit-space.
3 . The method claimed in claim 2 , wherein selecting includes generating the candidate root identifier using a hash function.
4 . The method claimed in claim 3 , wherein generating includes concatenating the respective root identifiers of the two or more serialized tokens and hashing the result.
5 . The method claimed in claim 4 , wherein the hashing produces a first root identifier within the first bit-space and, as a result, re-hashing the first root identifier until the candidate root identifier is produced.
6 . The method claimed in claim 2 , wherein determining that the candidate root identifier is available includes transmitting a message to an issuer computing device regarding the candidate root identifier and receiving a response message confirming the candidate root identifier is available.
7 . The method claimed in claim 2 , wherein determining that the candidate root identifier is available includes querying a token database and receiving a query result indicating that the token database does not contain the candidate root identifier.
8 . The method claimed in claim 1 , wherein identifying a candidate root identifier and candidate leaf identifier includes selecting one of the respective root identifiers and selecting a leaf identifier designated for consolidated tokens at the larger denomination.
9 . The method claimed in claim 8 , wherein selecting the leaf identifier designated for consolidated tokens at the larger denomination includes selecting a first leaf identifier, determining that the first leaf identifier is unavailable, selecting the candidate leaf identifier, and determining that the candidate leaf identifier is available.
10 . The method claimed in claim 8 , wherein selecting the leaf identifier includes sending a message to an issuer computing device and receiving a response indicating the candidate leaf identifier available.
11 . The method claimed in claim 1 , wherein each leaf identifier indicates a unique path from a root denomination in the defined ordered set of denominations to a respective node corresponding to that leaf identifier in a root denomination tree, wherein the root denomination tree maps splitting of the root denomination into successively smaller denominations in the defined ordered set of denominations.
12 . The method claimed in claim 11 , wherein the candidate leaf identifier is a leaf identifier not included in the root denomination tree and allocated to consolidated tokens.
13 . The method claimed in claim 1 , further comprising, at the issuer computing device, removing the respective serial numbers of the two or more serialized tokens from a token database and storing the new serial number for the new token in the token database.
14 . A computing device for consolidating tokens by a computing device in a token system, the computing device including: one or more processors; memory; computer-executable instructions stored in the memory that, when executed by the one or more processors, cause the processors to: receive an instruction to consolidate two or more serialized tokens, each token having a respective serial number, each serial number containing a respective root identifier, a denomination code, and a leaf identifier allocated to that denomination code, wherein denomination codes for the two or more serialized tokens represent denominations selected from among a defined ordered set of denominations that when summed equate to a larger denomination from the defined ordered set of denominations; determine that the two or more serialized tokens include at least two respective serial numbers having different respective root identifiers or at least two leaf identifiers having different parents; identify a candidate root identifier and candidate leaf identifier, wherein the candidate leaf identifier is allocated to the larger denomination; determine that the candidate root identifier and the candidate leaf identifier, in combination, are available for use; generate a new token having a new serial number containing the candidate root identifier, the candidate leaf identifier, and a denomination code corresponding to the larger denomination; and notify an issuer computing device of consolidation and deactivation of the two or more serialized tokens resulting in the new token.
15 . A non-transitory computer-readable medium storing processor-executable instructions for consolidating tokens by a computing device in a token system, the processor-executable instructions including instructions that, when executed by one or more processors, cause the processors to: receive an instruction to consolidate two or more serialized tokens, each token having a respective serial number, each serial number containing a respective root identifier, a denomination code, and a leaf identifier allocated to that denomination code, wherein denomination codes for the two or more serialized tokens represent denominations selected from among a defined ordered set of denominations that when summed equate to a larger denomination from the defined ordered set of denominations; determine that the two or more serialized tokens include at least two respective serial numbers having different respective root identifiers or at least two leaf identifiers having different parents; identify a candidate root identifier and candidate leaf identifier, wherein the candidate leaf identifier is allocated to the larger denomination; determine that the candidate root identifier and the candidate leaf identifier, in combination, are available for use; generate a new token having a new serial number containing the candidate root identifier, the candidate leaf identifier, and a denomination code corresponding to the larger denomination; and notify an issuer computing device of consolidation and deactivation of the two or more serialized tokens resulting in the new token.
16 . The computing device claimed in claim 14 , wherein a bit-space for root identifiers is partitioned into a first bit-space of root identifiers associated with issued tokens and a second bit-space of root identifiers associated with consolidated tokens, and wherein the instructions, when executed, are to cause the processor to identify a candidate root identifier by selecting the candidate root identifier from the second bit-space.
17 . The computing device claimed in claim 16 , wherein selecting includes generating the candidate root identifier using a hash function.
18 . The computing device claimed in claim 17 , wherein generating includes concatenating the respective root identifiers of the two or more serialized tokens and hashing the result.
19 . The computing device claimed in claim 18 , wherein the hashing produces a first root identifier within the first bit-space and, as a result, re-hashing the first root identifier until the candidate root identifier is produced.
20 . The computing device claimed in claim 14 , wherein each leaf identifier indicates a unique path from a root denomination in the defined ordered set of denominations to a respective node corresponding to that leaf identifier in a root denomination tree, wherein the root denomination tree maps splitting of the root denomination into successively smaller denominations in the defined ordered set of denominations.

Description

CROSS REFERENCE TO RELATED APPLICATIONS This application is the U.S. National Stage of International Application No. PCT/EP2022/061050 filed on Apr. 26, 2022, which claims the benefit of United Kingdom Patent Application No. 2106204.7, filed on Apr. 30, 2021, the contents of which are incorporated herein by reference in their entireties. TECHNICAL FIELD The present disclosure relates to token networks and, in particular, methods and systems for serializing tokens, tracking serialized tokens, transferring serialized tokens, or combining serialized tokens. BACKGROUND Token systems are of increasing interest in the computer networking world. Many real world objects are being “tokenized”, such as works of art, shares of a company, or even “tweets”. In some cases, the thing being tokenized is a non-fungible good, like a singular work of art or other object, and the token associated with that item may represent ‘ownership’ of that non-fungible item. This has led to the recent popularity of non-fungible tokens (NFTs). Tokens may be issued, transferred or stored on a token network. The token network may be established on an underlying computing network, which may or may not involve a blockchain layer for maintaining a distributed ledger of token ownership. Fungible tokens may be generated in some token system, for example tokens representing a quantity of fungible goods, or banknotes, or other non-unique items. Tracking individual tokens in a fungible token system can be costly in terms of storage space. For example, if we consider the number of banknotes that a sizeable country, such as Australia, the United Kingdom, or the United States, has in active circulation, then issuing a unique token having a unique serial number for each banknote result in very significant token database storage requirements. It would be advantageous to have methods and systems for issuing, storing, transferring, splitting, and combining fungible serialized tokens that at least partially addresses the issue of storage space. BRIEF DESCRIPTION OF THE DRAWINGS Reference will now be made, by way of example, to the accompanying drawings which show example embodiments of the present application and in which: FIG. 1 shows an example token system; FIG. 2 shows an example data structure for a token serial number constructed in accordance with one aspect of the present application; FIG. 3 shows an example of a root denomination tree for a 2″ series of denominations; FIG. 4 shows an example of a root denomination tree for a 5-2-1 series of denominations; FIG. 5 shows, in flowchart form, an example method for generating serialized tokens; FIG. 6 diagrammatically illustrates an example token system and token transfer; FIG. 7 shows, in flowchart form, one example method of splitting a serialized token; FIG. 8 shows, in flowchart form, one example method for consolidating tokens; and FIG. 9 shows, in flowchart form, another example method for consolidating tokens. Like reference numerals are used in the drawings to denote like elements and features. DETAILED DESCRIPTION OF EXAMPLES In one aspect, there may be provided a computer-implemented method of consolidating tokens by a computing device in a token system. The method may include receiving an instruction to consolidate two or more serialized tokens, each token having a respective serial number, each serial number containing a respective root identifier, a denomination code, and a leaf identifier allocated to that denomination code. The denomination codes for the two or more serialized tokens may represent denominations selected from among a defined ordered set of denominations that when summed equate to a larger denomination from the defined ordered set of denominations. The method may further include identifying a candidate root identifier and candidate leaf identifier, wherein the candidate leaf identifier is allocated to the larger denomination; determining that the candidate root identifier and the candidate leaf identifier, in combination, are available for use; generating a new token having a new serial number containing the candidate root identifier, the candidate leaf identifier, and a denomination code corresponding to the larger denomination; and notifying an issuer computing device of consolidation and deactivation of the two or more serialized tokens resulting in the new token. In some implementations, a bit-space for root identifiers is partitioned into a first bit-space of root identifiers associated with issued tokens and a second bit-space of root identifiers associated with consolidated tokens, and identifying a candidate root identifier may include selecting the candidate root identifier from the second bit-space. In some cases, selecting includes generating the candidate root identifier using a hash function. Using the hash function may include concatenating the respective root identifiers of the two or more serialized tokens and hashing the result. In some cases, if the hashing