Coinbase Awarded Patent for Bitcoin Security Concept

Cryptocurrency exchange startup Coinbase has been awarded a new patent related to private key security, public records show.

The U.S. Patent and Trademark Office (USPTO) published the patent yesterday, entitled "Key ceremony of a security system forming part of a host computer for cryptographic transactions." Two former Coinbase engineers – James Hudon, who now works for Uber, and Andrew Alness, currently employed at Keybase – are listed as inventors.

At its heart, the patent concept relates to a method for storing and utilizing bitcoin private keys. Coinbase has filed other patents in the past related to private key security.

source:https://www.coindesk.com/coinbase-awarded-patent-for-bitcoin-security-concept/