PayPal Explores Blockchain Innovations in Layer-2s and NFTs

One patent application, initially filed in March 2022 and recently unveiled to the public, provides insights into the selection process for validators and miners in blockchain transactions. It introduces inventive techniques that can guide blockchain requests to specific groups of miners or validators, ultimately enhancing transaction efficiency. PayPal’s keen interest in “layer-2s” is evident in its efforts to streamline blockchain operations. Additionally, three patent apps dating back to March 2022 but made public on September 21. The first set of patents explores cutting-edge methods and systems to facilitate off-chain transactions within NFT marketplaces. This innovation aims to create a seamless and scalable NFT ecosystem, transforming the way digital assets are traded. The second patent application introduces a novel concept known as the “omniverse,” a groundbreaking product designed to span multiple metaverses. In this context, it introduces an “online transaction processor” to provide digital asset purchase recommendations based on Revolutionizing NFT Marketplaces. The third patent application outlines another online transaction processor, primarily focusing on enhancing payment efficiency for users and merchants operating across different network layers, including “layer-1s” and “layer-2s.".