Innovative blockchain patent extends RKVST’s leadership in data origin and integrity

Innovative blockchain patent extends RKVST’s leadership in data origin and integrity

[gpt3]rewrite

New patent addresses challenges created by ever-growing demands for blockchain storage

SANTA CLARA, California and CAMBRIDGE, England, June 1, 2023–(BUSINESS WIRE)–RKVST® has been granted a US patent that enables practical scaling for blockchains, putting an end to the limitless storage requirements that come with ever-growing transaction data, and improving scalability, performance, availability and cost.

Blockchain and distributed ledger technologies (DLT) are emerging as a fundamental building block for new digital communication platforms. The ability to securely store, trade and compute data in a shared responsibility system is enormously powerful, extending far beyond cryptocurrency and NFT use cases to include supply chain, environmental, social and governance (ESG) implementation, the Internet of Things ( IoT), regulatory compliance and auditing and many more.

Blockchains record, verify and log a sequence of transactions, and it is a well-known feature that as the number of transactions increases, the more data is created, necessitating an increase in storage capacity. Also, blockchains are immutable, meaning nothing is deleted from the ledger, so storage requirements are constantly growing. This leads to problems with scalability, performance and availability, as well as cost.

The Data Structure Storage Optimization patent, invented by Jon Geater and Mansoor Ahmed-Rengers, enables more flexible storage of the chain data in parts without losing the end-to-end cryptographic verifiability of the chain. This addresses the fear and cost of maintaining ever-growing data.

Jon Geater, co-founder and chief product officer, RKVST, said:

“At RKVST, we are working hard to make blockchain practical for real-world business use. The RKVST blockchain-powered platform provides proof-of-origin, proof-of-origin and proof-of-authenticity for all data, which is fundamental to any supply chain. By implementing the technology behind this patent, we can deliver portable data integrity, transparency and trust in the long term without the burden of ever-increasing operating costs.”

See also  New pricing, tokens and merchant models are now available on the B2BinPay website!

Known techniques exist today that aim to reduce the blockchain storage problem by reducing the storage space required for the blocks – crushing empty blocks together or using compression to reduce the storage space requirements of all blocks in general. While these solutions help to some extent, they only delay the inevitable and eventually the same storage problems occur. This innovation will be transformative in terms of the scalability and cost of deploying blockchain, rapidly ushering in the time when blockchain is ubiquitous across enterprise applications.

RKVST was built to eliminate the time-consuming, expensive and error-prone processes required today to verify and validate information as it flows between companies and ensure it is safe to use. The RKVST API is the fastest way to instantly prove who did what, when for any digital asset. It is available as a free forever basic service that anyone can use today at www.rkvst.com.

More information:
Patent number US-11636080-B2: Optimization of data structure storage
Patent pending in the UK and Europe

About RKVST

RKVST enables organizations to prove and verify the origin and authenticity of all data they use in their business operations. Whether it’s tracking nuclear material, underpinning climate transparency or eliminating supply chain disputes, RKVST provenance-as-a-service removes the frustration, time-wasting and uncertainty of manual data verification. Supported by blockchain technology, RKVST seamlessly integrates with existing software and secure data storage systems via an open API, creating a record of proof of origin, provenance and authenticity for all data. Then it is also easy to share this provenance with partners, suppliers and customers, and provide the transparency, integrity and trust that every business needs for its critical decisions. To learn more, visit RKVST.com.

See also  Which crypto crisis? Venture capitalists are betting big on cryptocurrencies and blockchain startups

See the source version at businesswire.com: https://www.businesswire.com/news/home/20230601005346/en/

Contacts

Liz Harris, Marketing Director, RKVST
[email protected]

Jackie Solis, PR for RKVST (USA)
[email protected]

Allie Andrews or Rachel Williams, PR for RKVST (UK and Europe)
[email protected] / [email protected]
+44 (0)1442 245030

[gpt3]

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *