ARM has been granted a patent for methods using Internet of Things devices to support blockchain operations for securing IoT networks. The patent involves monitoring device traffic for compliance with smart contracts and transferring digital currency as penalties for unauthorized connections. GlobalData’s report on ARM gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on ARM, was a key innovation area identified from patents. ARM's grant share as of February 2024 was 64%. Grant share is based on the ratio of number of grants to total number of patents.
Blockchain-based iot network security through micropayments
The granted patent (Publication Number: US11924322B2) describes a method involving the electronic communication of messages describing digital currency micropayments between devices on a network. These micropayments are executed in accordance with blockchain rules. The method also includes monitoring device traffic to ensure compliance with a smart contract. If a device attempts an unauthorized connection in violation of the contract, a digital currency transaction is broadcasted to transfer funds from the violating device's wallet to another device on the network. The digital currency micropayments facilitate various electronic transactions such as authentication, authorization, resource allocation, delegation, peer anomaly detection, dynamic pricing, and miner rewards.
The patent further details the implementation of blockchain rules defining transaction validity, which can include two-party consensus, proof-of-work, proof-of-stake, or algorithmically-determined verifiers. The network types involved can range from peer-to-peer, cellular, distributed, decentralized, wireless, to wired communications networks. The blockchain itself can be public, private, or include sidechain blockchains. The method also highlights the utilization of idle processing unit cycles on devices for implementing blockchain rules. Additionally, the devices involved in the method are specified to include Internet of Things (IoT) devices. The patent also covers an apparatus and an article with similar functionalities for executing digital currency micropayments and enforcing smart contracts within a network of devices.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
