Cryptocurrency is a digital asset designed to work as a medium of exchange of assets or money, and it uses cryptography to secure the transactions and to control the creation of additional units of money. It means that through the principles of cryptography, electricity is converted into lines of code that gain monetary value. To realize digital cash, an individual needs a payment network with accounts, balances, and transactions. One major problem every payment network has to solve is to prevent double-spending, which is to prevent one entity from spending the same amount twice. Usually, this done by a central server that keeps records of all the balances. Cryptocurrency based utility tokens add value to blockchain companies after thorough opinion by blockchain lawyer. Companies interested in developing cryptocurrency-based innovations can explore patent filing procedure for blockchain patents. An important consideration would be to ensure that patent subject matter eligibility requirements are met when the patent claims are examined by the patent examiner. https://gipresearch.com/patent-attorney/understanding-basics-of-cryptocurrency-and-utility-tokens/ #Tech #Blockchain #Cryptocurrency #Innovation