Method and System for Exchange of Value or Tokens Between Blockchain Networks

Abstract

A blockchain value transfer method including receiving a plurality of transaction requests, performing a balance check procedure on each transaction request to determining if the transaction value in first in-network tokens is greater than the present permitted transaction amount of the sending user account address, adding the transaction request to an aggregate transaction record, determining a net transaction amount for each user account address for each transaction in the aggregate transaction record, with the transaction value for transactions including the user account address as the sending user account address as a debit and as the receiving user account address as a credit, and executing the net transaction amount for each user account address associated with the net transaction amount by transacting tokens to and from the user account addresses upon reaching an aggregation threshold.

1 . A blockchain value transfer method comprising:
 receiving a plurality of transaction requests, each transaction request comprising a sending user account address, a receiving user account address, and a transaction value expressed in terms of a quantity of first in-network tokens, the user account addresses being addresses on a blockchain network;   performing a balance check procedure on each transaction request comprising:
 identifying a present permitted transaction amount in first in-network tokens for the sending user account address; 
 determining if the transaction value in first in-network tokens is greater than the present permitted transaction amount of the sending user account address; 
 upon determining the transaction value in first in-network tokens is greater than the present permitted transaction amount in first in-network tokens of the sending user account address, refusing the transaction; 
 upon determining the transaction value is not greater than the present permitted transaction amount of the sending user account address, adding the transaction request to an aggregate transaction record; 
 updating the present permitted transaction amount of the sending user account address reflecting a debit of the transaction value; and 
 updating the present permitted transaction amount of the receiving user account address reflecting a credit of the transaction value; 
   determining a net transaction amount for each user account address for each transaction in the aggregate transaction record, with the transaction value for transactions including the user account address as the sending user account address as a debit and as the receiving user account address as a credit; and   executing the net transaction amount for each user account address associated with the net transaction amount by transacting tokens to and from the user account addresses upon reaching an aggregation threshold, comprising:
 withdrawing an amount of tokens from user account addresses with a net debit having a value equal to the value of the net debit, defined as debit user account addresses, defining debited tokens; and 
 depositing an amount of tokens from the debited tokens to user account addresses with a net credit in an amount equal to the amount of the net credit, defined as credit user account addresses. 
   
     
     
         2 . The blockchain value transfer method of  claim 1  wherein execution of the net transaction amount comprises recording a net transaction smart contract to the blockchain network, the net transaction smart contract comprising each of the user account addresses and the tokens transacted with each of the user account addresses. 
     
     
         3 . The blockchain value transfer method of  claim 2  wherein the net transaction smart contract adds a transaction fee to each token transaction for the user account addresses. 
     
     
         4 . The blockchain value transfer method of  claim 1  wherein the aggregation threshold is defined as at least one of a length of time elapsing since a previous net transaction execution, a gross transaction amount, or a risk tolerance. 
     
     
         5 . The blockchain value transfer method of  claim 1  wherein each transaction request of the plurality of transaction requests has an associated transaction request smart contract recorded on the blockchain network, defining a plurality of transaction request smart contracts. 
     
     
         6 . The blockchain value transfer method of  claim 5  wherein each transaction request smart contract comprises a transaction tax added to the transaction value. 
     
     
         7 . The blockchain value transfer method of  claim 1  further comprising, for each refused transaction, re-determining if the transaction value in first in-network tokens is greater than the present permitted transaction amount of the sending user account address after at least one of a first time interval and an intervening transaction involving the sending user account address, defining a transaction retry, for one or more of a fixed number of transaction retry attempts or after a second time interval. 
     
     
         8 . The blockchain value transfer method of  claim 1  wherein
 a first sending user account address of a first transaction request of the plurality of transaction requests is on a first blockchain network comprising the first in-network token; 
 a first receiving user account address of the first transaction request is on a second blockchain network and comprises a second in-network token; 
 the first receiving user account address is determined to be a credit user account address; and 
 executing the net transaction amount for the receiving user account comprises:
 exchanging an amount of first in-network tokens, equal in value to the net credit for the first receiving user account, defining a net credit value, for an amount of first tethered tokens having a value equal to the net credit value, the first tethered tokens being comprised by a first tethered token transfer record; 
 recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to the second blockchain network; 
 recording a transaction to the second blockchain network of receiving the first tethered token transfer record at the second blockchain network from the first blockchain network; 
 exchanging the first tethered tokens comprised by the first tethered transfer record for an amount of second in-network tokens having a value equal to the net credit value, defining a second blockchain network deposit; and 
 depositing the second blockchain network deposit to the receiving user account address. 
 
 
     
     
         9 . The blockchain value transfer method of  claim 8  wherein:
 the first tethered token has a value thereof tethered to a first fiat currency; 
 the first in-network token has a first exchange rate with the first tethered token; and 
 the second in-network token has a second exchange rate with the first tethered token that is different from the first exchange rate. 
 
     
     
         10 . The blockchain value transfer method of  claim 1  wherein
 a first sending user account address of a first transaction request of the plurality of transaction requests is on a first blockchain network comprising the first in-network token; 
 a first receiving user account address of the first transaction request is on a second blockchain network and comprises a second in-network token; 
 the first receiving user account address is determined to be a credit user account address; and 
 executing the net transaction amount for the receiving user account comprises:
 exchanging an amount of first in-network tokens, equal in value to the net credit for the first receiving user account, defining a net credit value, for an amount of first tethered tokens having a value equal to the net credit value, the first tethered tokens being comprised by a first tethered token transfer record; 
 recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to a tethered token exchange; 
 exchanging the first tethered tokens comprised by the first tethered token transfer record for an amount of second tethered tokens having a value equal to the net credit value, the second tethered tokens being comprised by a second tethered token transfer record; 
 recording a transaction to the second blockchain network of receiving the second tethered token transfer record at the second blockchain network from the tethered token exchange; 
 exchanging the second tethered tokens comprised by the second tethered transfer record for an amount of second in-network tokens having a value equal to the net credit value, defining a second blockchain network deposit; and 
 depositing the second blockchain network deposit to the receiving user account address. 
 
 
     
     
         11 . The blockchain value transfer method of  claim 10  wherein:
 a value of the first tethered token is tethered to a first fiat currency; 
 a value of the second tethered token is tethered to a second fiat currency different from the first fiat currency; 
 the first in-network token has a first exchange rate with the first tethered token; 
 the second in-network token has a second exchange rate with the second tethered token; and 
 the first tethered token has a third exchange rate with the second tethered token. 
 
     
     
         12 . The blockchain value transfer method of  claim 11  further comprising at least one of defining the first exchange rate responsive, the second exchange rate, and the third exchange rate responsive to the second fiat currency. 
     
     
         13 . The blockchain value transfer method of  claim 10  further comprising updating the present permitted transaction amount responsive to at least one of the first fiat currency and the second fiat currency. 
     
     
         14 . A blockchain value transfer method comprising:
 receiving a plurality of transaction requests, each transaction request comprising a sending user account address, a receiving user account address, and a transaction value expressed in terms of a quantity of first in-network tokens, the user account addresses being addresses on a blockchain network;   performing a balance check procedure on each transaction request comprising:
 identifying a present permitted transaction amount in first in-network tokens for the sending user account address; 
 determining if the transaction value in first in-network tokens is greater than the present permitted transaction amount of the sending user account address; 
 upon determining the transaction value in first in-network tokens is greater than the present permitted transaction amount in first in-network tokens of the sending user account address, refusing the transaction; 
 upon determining the transaction value is not greater than the present permitted transaction amount of the sending user account address, adding the transaction request to an aggregate transaction record; 
 updating the present permitted transaction amount of the sending user account address reflecting a debit of the transaction value; and 
 updating the present permitted transaction amount of the receiving user account address reflecting a credit of the transaction value; 
   determining a net transaction amount for each user account address for each transaction in the aggregate transaction record, with the transaction value for transactions including the user account address as the sending user account address as a debit and as the receiving user account address as a credit; and   executing the net transaction amount for each user account address associated with the net transaction amount by transacting tokens to and from the user account addresses upon reaching an aggregation threshold, comprising:
 recording a net transaction smart contract to the blockchain network, the net transaction smart contract comprising each of the user account addresses and the tokens transacted with each of the user account addresses; 
 withdrawing an amount of tokens from user account addresses with a net debit having a value equal to the value of the net debit, defined as debit user account addresses, defining debited tokens; and 
 depositing an amount of tokens from the debited tokens to user account addresses with a net credit in an amount equal to the amount of the net credit, defined as credit user account addresses; 
   wherein the aggregation threshold comprises at least one of a length of time elapsing since a previous net transaction execution, a gross transaction amount, or a risk tolerance.   
     
     
         15 . The blockchain value transfer method of  claim 14  wherein
 a first sending user account address of a first transaction request of the plurality of transaction requests is on a first blockchain network comprising the first in-network token; 
 a first receiving user account address of the first transaction request is on a second blockchain network and comprises a second in-network token; 
 the first receiving user account address is determined to be a credit user account address; and 
 executing the net transaction amount for the receiving user account comprises:
 exchanging an amount of first in-network tokens, equal in value to the net credit for the first receiving user account, defining a net credit value, for an amount of first tethered tokens having a value equal to the net credit value, the first tethered tokens being comprised by a first tethered token transfer record; 
 recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to the second blockchain network; 
 recording a transaction to the second blockchain network of receiving the first tethered token transfer record at the second blockchain network from the first blockchain network; 
 exchanging the first tethered tokens comprised by the first tethered transfer record for an amount of second in-network tokens having a value equal to the net credit value, defining a second blockchain network deposit; and 
 depositing the second blockchain network deposit to the receiving user account address. 
 
 
     
     
         16 . The blockchain value transfer method of  claim 15  wherein:
 the first tethered token has a value thereof tethered to a first fiat currency; 
 the first in-network token has a first exchange rate with the first tethered token; and 
 the second in-network token has a second exchange rate with the first tethered token that is different from the first exchange rate. 
 
     
     
         17 . The blockchain value transfer method of  claim 14  wherein
 a first sending user account address of a first transaction request of the plurality of transaction requests is on a first blockchain network comprising the first in-network token; 
 a first receiving user account address of the first transaction request is on a second blockchain network and comprises a second in-network token; 
 the first receiving user account address is determined to be a credit user account address; and 
 executing the net transaction amount for the receiving user account comprises:
 exchanging an amount of first in-network tokens, equal in value to the net credit for the first receiving user account, defining a net credit value, for an amount of first tethered tokens having a value equal to the net credit value, the first tethered tokens being comprised by a first tethered token transfer record; 
 recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to a tethered token exchange; 
 exchanging the first tethered tokens comprised by the first tethered token transfer record for an amount of second tethered tokens having a value equal to the net credit value, the second tethered tokens being comprised by a second tethered token transfer record; 
 recording a transaction to the second blockchain network of receiving the second tethered token transfer record at the second blockchain network from the tethered token exchange; 
 exchanging the second tethered tokens comprised by the second tethered transfer record for an amount of second in-network tokens having a value equal to the net credit value, defining a second blockchain network deposit; and 
 depositing the second blockchain network deposit to the receiving user account address. 
 
 
     
     
         18 . The blockchain value transfer method of  claim 17  wherein:
 a value of the first tethered token is tethered to a first fiat currency; 
 a value of the second tethered token is tethered to a second fiat currency different from the first fiat currency; 
 the first in-network token has a first exchange rate with the first tethered token; 
 the second in-network token has a second exchange rate with the second tethered token; and 
 the first tethered token has a third exchange rate with the second tethered token. 
 
     
     
         19 . The blockchain value transfer method of  claim 18  further comprising at least one of defining the first exchange rate responsive, the second exchange rate, and the third exchange rate responsive to the second fiat currency. 
     
     
         20 . A blockchain value transfer method comprising:
 receiving a plurality of transaction requests, each transaction request comprising a sending user account address, a receiving user account address, and a transaction value expressed in terms of a quantity of first in-network tokens, the user account addresses comprising:
 a first sending user account address of a first transaction request of the plurality of transaction requests on a first blockchain network comprising the first in-network token; and 
 a first receiving user account address of the first transaction request is on a second blockchain network and comprises a second in-network token; 
   performing a balance check procedure on each transaction request comprising:
 identifying a present permitted transaction amount in first in-network tokens for the sending user account address; 
 determining if the transaction value in first in-network tokens is greater than the present permitted transaction amount of the sending user account address; 
 upon determining the transaction value in first in-network tokens is greater than the present permitted transaction amount in first in-network tokens of the sending user account address, refusing the transaction; 
 upon determining the transaction value is not greater than the present permitted transaction amount of the sending user account address, adding the transaction request to an aggregate transaction record; 
 updating the present permitted transaction amount of the sending user account address reflecting a debit of the transaction value; and 
 updating the present permitted transaction amount of the receiving user account address reflecting a credit of the transaction value; 
   determining a net transaction amount for each user account address for each transaction in the aggregate transaction record, with the transaction value for transactions including the user account address as the sending user account address as a debit and as the receiving user account address as a credit, with the first receiving user account address being determined to be a credit user account address; and   executing the net transaction amount for each user account address associated with the net transaction amount by transacting tokens to and from the user account addresses upon reaching an aggregation threshold, comprising:
 withdrawing an amount of first in-network tokens from user account addresses with a net debit having a value equal to the value of the net debit, defined as debit user account addresses, defining debited tokens; and 
 exchanging an amount of first in-network tokens, equal in value to a net credit for the first receiving user account, defining a net credit value, for an amount of first tethered tokens having a value equal to the net credit value, the first tethered tokens being comprised by a first tethered token transfer record; 
 recording a transaction to the first blockchain network of sending the first tethered token transfer record from the first blockchain network to a tethered token exchange; 
 exchanging the first tethered tokens comprised by the first tethered token transfer record for an amount of second tethered tokens having a value equal to the net credit value, the second tethered tokens being comprised by a second tethered token transfer record; 
 exchanging the second tethered tokens comprised by the second tethered transfer record for an amount of second in-network tokens having a value equal to the net credit value, defining a second blockchain network deposit; 
 depositing the second blockchain network deposit to the receiving user account address; and 
 depositing the remaining first in-network tokens from the debited first in-network tokens to user account addresses on the first blockchain network with a net credit in an amount equal to the amount of the net credit, defined as credit user account addresses.