Introduction to PayPal’s exploration of Layer-2s and NFTs in the blockchain space.
PayPal, the financial payments giant, is reportedly exploring opportunities in the blockchain space, specifically focusing on Layer-2 solutions and non-fungible tokens (NFTs). This move indicates PayPal’s interest in expanding its presence in the evolving crypto landscape.
Details about a recently published patent application that discusses the selection process of validators or miners for blockchain transactions.
Recent patent applications from PayPal shed light on the company’s research and development priorities. One application, filed in March 2022 and made public in September, delves into the selection process of validators or miners for blockchain transactions. This patent outlines techniques that could enable directed routing of blockchain requests to specific groups of miners or validators.
Overview of three additional patent applications filed by PayPal, covering off-chain transactions, an omniverse concept, and enhancing payment efficiency across network layers.
In addition to the validator selection patent, PayPal has also filed three other patent applications. These applications, submitted in March 2022 and unveiled in September, cover various aspects of blockchain technology. One patent focuses on enabling off-chain transactions using NFT marketplaces, while another explores the concept of an “omniverse” that operates across multiple metaverses. The third patent application aims to enhance payment efficiency between users and merchants operating on different network layers, including layer-1s and layer-2s.