Bitcoin, Crypto currency, Blockchain

Mastercard wins Blockchain-Patent

Mastercard, an American multinational financial services company based in New York, USA, has received a Patent for a method for partitioning a Blockchain. This would help enable the introduction of various types of block chains, even those of different currencies at the same time.

The latest Patent of Mastercard, on 9. October 2018 from the USPTO granted and for the first time in July 2016 was submitted, describes the Problem that different types of events need to be stored on a separate platform. An “entity” that seeks to have many types of block chains, to control a number of different currencies, it may be necessary to operate multiple block chains, but also require more computing power.

The Patent States:

There is a need for a technological solution to a partitioned Blockchain, which is able to store a plurality of transaction formats and types into a single Blockchain, allowing for the provision and operation of the Blockchain required computing resources and computing services reduces, while at the same time improving the use of the permissions for the block chains.

The Patent illustrates the procedure for a Blockchain, which is able to “to store a plurality of transaction formats.” It shows the importance of this technology, because block chains require that all actions have a similar Format and of a uniform size, which limits the efficiency.

Summary of the Mastercard patent

The Patent specifies a classification of systems and techniques for the formation of blocks for a partitioned Blockchain. The application of a partitioned Blockchain can enable a single Blockchain to manage transaction records for a plurality of different block chains. This reduces the effort for the execution of a larger number of different block chains necessary. In addition, the split transaction can allow the records in the Blockchain restrictions on access to the activity rates, since the capacity for separate formatting of the data records is given in a single Partition.

Not only this, a process for the preparation of blocks for a partitioned Blockchain also includes Storing at least a Block in a memory of a processing server. This Block has a newly added Block and at least one or also a plurality of transaction entries. In addition, the Block will also feature a collection agent of the processing server, and a transaction data collection for each of the included subnets. This creates a Hashing module of the processing server. Thereafter, a Hash generated value using one or more hashing Algorithms to at least the Header of the newly added block is a module of the processing server.

The patent writing says:

A partitioned Blockchain can contain transaction data sets for three different subnets, with each subnet assigned to the transaction can be formatted data sets are different and the Transmission of a cryptographic currency as of any subnet associated with can include.

In addition, it is described that transaction records can be adjusted on the basis of the Interpretation, which is associated with a subnet. The Interpretation can add an approach procedure or other data about the formatting and the method of Transaction. For example, you can include the semantics of a subnet rules that describe the necessary data within a transaction. For example, the organization of the data, the size of the data blocks or the Hash algorithm to be used for the calculation of the Merkle root of the subnet.

For example, you can request the subnet semantics of a transaction stamp of 4 Bytes, a transaction amount of 16 Bytes, a source address of 16 Bytes, with an identical signature of 32 Bytes, a number of targets to 4 Bytes, and for each of the objectives contains a set of a time, a destination address by 16 Bytes, with an identical signature of 32 Bytes. It may also require a specific Hash algorithm, such as, for example, generate a Doppelhash with the SHA-256 algorithm to Merkle roots for the subnet.

This is not the first Time that Mastercard has received a Patent in connection with Blockchain or crypto-currency. In July 2018 Mastercard received a Patent for the acceleration of crypto-currency TRANS-actions. In a on 17. July by the U.S. patent and trademark office (USPTO) published a document, described the latest Patent of MasterCard as a “method and System for link of blockchain based assets with Fiat currency accounts”.

In order to speed up transactions, trying to Mastercard to create a secondary Wallet, in which most of the accounts profiles are stored, wherein each profile in a Fiat currency amount, a Blockchain currency amount, an account identifier and an address must have.

If you are interested in other interesting news, read why Vitalik Buterin’re its withdrawal in the case of Ethereum prepared.

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This article was from English into German:

Christian Rehm

Senior IT Consultant and Crypto Enthusiast always in search of interesting news.

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