Cryptocurrency payment system payments backed by assignable tokens
A method includes determining, by a digital asset custodial device, to assign conditional access rights to an amount of assignable tokens stored in a digital asset custodial device account of the digital asset custodial device to a network computing device of a cryptocurrency payment system to back certain interactions of the cryptocurrency payment system. The conditional access rights are in accordance with a set of conditions. The assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger. The method further includes locking, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the amount of the assignable tokens stored in the digital asset custodial device account and providing the conditional access rights to the amount of the assignable tokens to the network computing device. The network computing device does not store the amount of the assignable tokens.
1. A method comprises:
creating, by one or more computing devices, a two-dimensional array data structure, wherein a first dimension of the two-dimensional array structure represents addresses, and wherein a second dimension of the two-dimensional array structure represents partitions;
storing, by a first computing device of the one or more computing devices, assignable tokens in a first partition of a plurality of partitions of a first address of the two-dimensional array structure, wherein the first computing device is a digital asset custodial device;
determining, by the digital asset custodial device, to assign to a network computing device of a cryptocurrency payment system conditional access rights to an amount of assignable tokens of the assignable tokens to back certain interactions of the cryptocurrency payment system, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the certain interactions;
locking, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the amount of the assignable tokens in the first partition of the first address of the two-dimensional array structure, wherein the first address is associated with the digital asset custodial device;
associating, by the digital asset custodial device, the amount of assignable tokens with the first partition, wherein the first partition is associated with the network computing device; and
providing, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens to the network computing device, wherein the network computing device does not store the amount of the assignable tokens.
2. The method of claim 1 , wherein the certain interactions include one or more of:
a payment transaction;
signing a contract;
transferring property;
a loan; and
sharing information.
3. The method of claim 1 , wherein the certain interactions are associated with one or more of:
a digital wallet of the source computing device;
the destination computing device; and
a type of digital asset.
4. The method of claim 1 , wherein access rights of the conditional access rights include one or more of:
a right to consume locked assignable tokens of the amount of assignable tokens via an on-chain transaction;
a right to view a representation of the amount of assignable tokens;
a right to lock at least the portion of the amount of assignable tokens to back an interaction of the certain interactions; and
a right to unlock the at least the portion of the amount of assignable tokens when the interaction is terminated successfully or completed successfully.
5. The method of claim 1 , wherein the set of conditions includes:
one or more stake release conditions; and
one or more stake consume conditions.
6. The method of claim 5 , wherein, when the self-enforcing smart contract detects a stake release condition of the one or more stake release conditions:
unlocking, by the digital asset custodial device and in accordance with the self-enforcing smart contract, at least a portion of the amount of the assignable tokens stored in the first address; and
terminating, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the conditional access rights to the at least the portion of the amount of the assignable tokens to the network computing device.
7. The method of claim 5 , wherein a stake release condition of the one or more stake release conditions includes an express instruction from the digital asset custodial device.
8. The method of claim 5 , wherein, when the self-enforcing smart contract detects a stake consume condition of the one or more stake consume conditions:
rendering, by the digital asset custodial device and in accordance with the self-enforcing smart contract, at least a portion of the amount of the assignable tokens transferrable to the network computing device; and
rendering, by the digital asset custodial device and in accordance with the self-enforcing smart contract, the least a portion of the amount of the assignable tokens unavailable to the digital asset custodial device.
9. The method of claim 5 , wherein a stake consume condition of the one or more stake consume conditions includes one of:
an unsuccessful completion of an interaction of the certain interactions;
an unauthorized termination of an interaction of the certain interactions; and
a failed performance associated with an interaction of the certain interactions.
10. A non-transitory computer readable memory comprises:
a first memory element that stores operational instructions that, when executed by one or more computing devices, causes the one or more computing devices to:
create a two-dimensional array data structure, wherein a first dimension of the two-dimensional array structure represents addresses, and wherein a second dimension of the two-dimensional array structure represents partitions;
a second memory element that stores operational instructions that, when executed by a digital asset custodial device of the one or more computing devices, causes the digital asset custodial device to:
store assignable tokens in a first partition of a plurality of partitions of a first address of the two-dimensional array structure; and
determine to assign conditional access rights to an amount of assignable tokens of the assignable tokens to a network computing device of a cryptocurrency payment system to back certain interactions of the cryptocurrency payment system, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the certain interactions;
a third memory element that stores operational instructions that, when executed by the digital asset custodial device and in accordance with the self-enforcing smart contract, causes the digital asset custodial device to:
lock the amount of the assignable tokens in the first partition of the first address of the two-dimensional array structure, wherein the first address is associated with the digital asset custodial device;
associate the amount of assignable tokens with the first partition, wherein the first partition is associated with the network computing device; and
provide the conditional access rights to the amount of the assignable tokens to the network computing device, wherein the network computing device does not store the amount of the assignable tokens.
11. The non-transitory computer readable memory of claim 10 , wherein the certain interactions include one or more of:
a payment transaction;
signing a contract;
transferring property;
a loan; and
sharing information.
12. The non-transitory computer readable memory of claim 10 , wherein the certain interactions are associated with one or more of:
a digital wallet of the source computing device;
the destination computing device; and
a type of digital asset.
13. The non-transitory computer readable memory of claim 10 , wherein access rights of the conditional access rights include one or more of:
a right to consume locked assignable tokens of the amount of assignable tokens via an on-chain transaction;
a right to view a representation of the amount of assignable tokens;
a right to lock at least the portion of the amount of assignable tokens to back an interaction of the certain interactions; and
a right to unlock the at least the portion of the amount of assignable tokens when the interaction is terminated successfully or completed successfully.
14. The non-transitory computer readable memory of claim 10 , wherein the set of conditions includes:
one or more stake release conditions; and
one or more stake consume conditions.
15. The non-transitory computer readable memory of claim 14 further comprises:
a fourth memory element that stores operational instructions that, when executed by the digital asset custodial device and in accordance with the self-enforcing smart contract, causes the digital asset custodial device to:
when a stake release condition of the one or more stake release conditions is detected:
unlock at least a portion of the amount of the assignable tokens stored in the first address; and
terminate the conditional access rights to the at least the portion of the amount of the assignable tokens to the network computing device.
16. The non-transitory computer readable memory of claim 14 , wherein a stake release condition of the one or more stake release conditions includes an express instruction from the digital asset custodial device.
17. The non-transitory computer readable memory of claim 14 further comprises:
a fourth memory element that stores operational instructions that, when executed by the digital asset custodial device and in accordance with the self-enforcing smart contract, causes the digital asset custodial device to:
when a stake consume condition of the one or more stake consume conditions is detected:
render at least a portion of the amount of the assignable tokens transferrable to the network computing device; and
render the least a portion of the amount of the assignable tokens unavailable to the digital asset custodial device.
18. The non-transitory computer readable memory of claim 14 , wherein a stake consume condition of the one or more stake consume conditions includes one of:
an unsuccessful completion of an interaction of the certain interactions;
an unauthorized termination of an interaction of the certain interactions; and
a failed performance associated with an interaction of the certain interactions.