CoinRoutes, a crypto trading technology company, obtained a patent for “smart order router”

According to reports, CoinRoutes, a crypto trading technology company, has obtained a patent for its system for routing transactions to exchanges and estimating costs. According to a document published on the website of the United States Patent and Trademark Office, the “Distributed Cryptocurrency Smart Order Router with a Cost Calculator” was patented on February 14th, and the co founders David Weisberger and Ian Weisberger (father and son) are considered inventors. CoinRoutes announced the patent license at a press conference on March 16th.

Interpretation of this information:

CoinRoutes has recently received a patent from the United States Patent and Trademark Office for its system that routes transactions to various exchanges and calculates costs. The patent, named the “Distributed Cryptocurrency Smart Order Router with a Cost Calculator,” was awarded to the company on February 14th, with both co-founders, David Weisberger and Ian Weisberger, listed as the inventors. CoinRoutes officially disclosed the news about the patent license at a press conference on March 16th.

The patent is unique, as it specifies the methodology of how the system will determine transaction routing, and how it’ll determine the best exchange based on the cost of the trade. Many traders tend to use multiple exchanges in order to maximize their profits, but the process is often challenging when high volumes of trades are concerned. CoinRoutes has solved this problem through its patent, enabling traders to gain maximum profits by calculating costs on individual trades and consolidating different exchanges.

CoinRoutes has several technological advantages in the trading industry, and the newly acquired patent adds to the list. The company’s systems provide effective analysis of execution quality, real-time crypto trading strategies, and intelligent routing protocols to ensure speedy and secure trades for its clients.

This patent recognizes CoinRoutes’ innovation and ability to create solutions for the cryptocurrency trading industry. It is expected that the company’s technology will become even more crucial in the future as the adoption of cryptocurrency continues to expand, and traditional financial institutions become more involved in the market.