MasterCard officially patented multicurrency blockchain network

MasterCard officially patented multicurrency blockchain network
Oct 11, 2018 03:33 AM By: Ben Noble | 1366 Views

The financial corporation from the USA MasterCard announced the receipt of a patent for an advanced blockchain platform in order to implement the process of servicing transactions with a number of electronic currencies right away. This patent was issued by representatives of the United States Patent and Trademark Office (USPTO). Information about this transmits site BTC Wires.

The official text of the application provides information that the new product will also provide companies with the ability to store data on each of the implemented transactions within a single platform. Representatives of MasterCard draw attention to the fact that before this a significant difficulty was the storage of information of different types in the system of one blockchain.

MasterCard transferred the application for this patent back in 2016, long before the rapid growth of the popularity of digital currencies in the investment market. Then the corporation experts set themselves the task of creating a new platform that would provide opportunities for reducing the level of operating costs for each of the users through the implementation of the method of storing information in one blockchain.

The published document provides information that there is a need to solve the problem of storing several formats and types of transactions within the blockchain. At the moment, this provokes an increase in costs, as well as resources of the computing power of the network, since it needs to serve several platforms at once.

When implementing a project in a patent, the problem will be solved due to the transfer of data to the blockchain, which is structured by additional subnets. Such mini-networks will support the storage of individual data options, and users will be able to quickly obtain the necessary information through the use of a single type of platform.

#Blockchain network #Mastercard #USA MasterCard #Blockchain

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