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- Microsoft opt to jump in the crypto wagon instead getting left behind
- Microsoft has received a patent to a distributed ledger
- Microsoft’s users will soon be able to create crypto token
- Microsoft’s distributed ledger is not eventually a blockchain, as all distributed ledger are not blockchain
Microsoft is one of the major technology firms in Silicon Valley. The firm has already rewarded its investors with tremendous performance. It is known that Bill Gates, the co-founder of Microsoft believes that the blockchain technology has the potential. However, the growth of the technology is concerning for such firms. Although the services provided are very much needed, blockchain might be obsolete in the near future. Hence, the concerns sparked a need for such firms to offer these services for people to continue to build on their platforms. And Bill Gates’ firm will allow its users to create crypto tokens.
Microsoft gets on the moving train
Undoubtedly, cryptocurrencies have become more mainstream than ever. Following the scenario, every individual, firms, and corporations have to decide whether they will get on the running train or get left behind. Indeed, Mocrosoft has chosen to jump on the crypto and blockchain wagon. The tech giant will now have its own blockchain, as it has been awarded with a patent for a distributed ledger.
Is a distributed ledger different from blockchain?
A distributed ledger is similar to a blockchain network, and the functions are akin. However, both are quite different from each other. According to a report by FINRA, a distributed ledger is a record of consensus with a cryptographic audit trial that is maintained and validated by nodes. Notably, distributed ledger can both be centralized or decentralized.
On the other hand, it is known that a blockchain network is only created to implement a distributed ledger. Although, significantly, all distributed ledger does not necessarily employ a blockchain.
Microsoft’s distributed is not a blockchain
Hence Microsoft’s approved distributed ledger will function like a blockchain, but is not an actual blockchain. According to the patent, the distributed ledgers use is what is significant to the cryptosphere. Essentially, the distributed ledger will allow Microsoft’s users to be able to create and manage tokens. Moreover, the patent explained that the process of token creation is difficult in the current scenario, due to lack of standardization across different chains. Hence, Microsoft will help to make such tasks convenient.
How will the ledger-independent service work?
According to the latest patent approved to Microsoft, the ledger-independent token service will offer one or many templates to the users. Such templates will correspond to a type of physical and digital asset. Ultimately, such templates will define one or more attributes that would be associated with the chosen template. Furthermore, the distributed ledger will consist of several functions for the users.
