Key Points:
The lawsuit targets two leading DeFi platforms, MakerDAO and Compound Protocol, alleging patent infringement. The DeFi Education Fund’s response comes in the form of a petition submitted to the U.S. Patent and Trademark Office in the District Court for the District of New York.
At the heart of this legal battle is the cryptocurrency industry’s ability to utilize open-source software, a foundational principle that has driven innovation and growth in the decentralized finance (DeFi) sector. The DeFi Education Fund‘s intervention seeks to protect this essential aspect of the industry.
True Return Systems claims ownership of a patent issued in 2018, asserting that it covers a process for transferring off-chain data onto the blockchain, including the use of oracles. The lawsuit highlights the rising concern of “patent trolls” in the blockchain space, entities that acquire patents not for innovation but for litigation and financial gain.
The DeFi Education Fund‘s stance is rooted in the belief that such patent claims could stifle innovation and limit the ability of DeFi projects to continue utilizing open-source technology for the betterment of the industry. By challenging the lawsuit, the organization aims to defend the broader cryptocurrency ecosystem from potentially damaging legal precedents.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…
Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…
Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…
PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.
President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…
Imagine you’re navigating the unpredictable seas of cryptocurrency, where market waves can knock the unprepared…
This website uses cookies.