Invention Grant
- Patent Title: Method and system for securing a blockchain with proof-of-transactions
-
Application No.: US16052912Application Date: 2018-08-02
-
Publication No.: US10230530B2Publication Date: 2019-03-12
- Inventor: David Begor Lancashire , Richard Michael Parris
- Applicant: Proclus Technologies Limited
- Applicant Address: CN Hong Kong
- Assignee: Proclus Technologies Limited
- Current Assignee: Proclus Technologies Limited
- Current Assignee Address: CN Hong Kong
- Agency: Adesro IP
- Main IPC: H04L9/32
- IPC: H04L9/32 ; G06Q20/06 ; G06Q20/38

Abstract:
Novel tools and techniques are provided for implementing blockchain transactions, and, more particularly, to methods, systems, and apparatuses for securing a blockchain with proof-of-transactions. In various embodiments, the blockchain system utilizes a proof-of-transactions approach that is based on a multi-player voting system and that is not susceptible to a free-rider problem that affects many other cryptocurrencies. The proof-of-transactions approach allows the cryptocurrency network to divide revenue between the nodes in the peer-to-peer network that provides bandwidth and connectivity and a set of other nodes that solve computational puzzles that safeguard the security of the blockchain system.
Public/Granted literature
- US20190044734A1 Method and System for Securing a Blockchain with Proof-of-Transactions Public/Granted day:2019-02-07
Information query