the United States Patent and Trademark Office (USPTO) published the filing. The application has Coinbase’s description about a system that could function as a payment portal. This portal will enable the user to carry out transactions right from their cryptocurrency wallet A portion of patent filing reads:
The patent application also mentions a key component of the system, the introduction of freeze/unfreeze capability. This will come in handy when a user reports hacking issues.
At any point in time after the master key is loaded, the system can be frozen. The system can be unfrozen after it has been frozen using keys from the key ceremony. The checkout process can be carried out when the system is frozen and when the system is unfrozen. The payment process can only be carried out when the system is unfrozen and not when the system is frozen.
In addition, the proposal also mentions API integration capabilities to enable websites to run versions of the payment portal. To tighten the security, the API paradigm utilizes a pair of keys, where one will be stored on the server of the website and other stored with Coinbase. The two keys must match, for any transaction to be approved.
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