Mastercard Company Receives Patent for Partitioned Blockchain-System Development


According to data published on the official website of the United States Patent and Trademark Office (USPTO) on October 9, Mastercard received a patent for the development of a partitioned Blockchain system for storing and conducting various types of transactions.

As stated in the document, the existing Blockchain systems for recording transaction data are structured in such a way that all transactions must have the same format and contain data of the same type and sometimes size.

The designated specificity of modern systems leads to the fact that a user who intends to use various types of transactions and data are forced to use several different Blockchain systems.

According to representatives of Mastercard, the main problem is that the use of several such systems leads to high energy costs, and also requires a significant supply of computing resources. Developing their system, Mastercard intends to find an effective solution to the indicated problem.

According to the patent, the use of a partitioned Blockchain-system will effectively solve existing problems associated with the use of technology to account for transactions. The company intends to create a system that will manage a number of subnets based on Blockchain, which will allow you to store transaction data. Also, the new system will provide interoperability between different types of data.

As stated in the patent application, “a partitioned blockchain may include transaction records for three different subnets, where the transaction records associated with each respective subnet may be formatted differently and may involve the transfer of a different cryptographic currency as associated with each subnet.”

This post is also available in: ruРусский

Don't miss a single story and get a chance to win up to 1,5 ETH!

Subscribe to our free newsletter and follow us