MasterCard Gets Patent for Partitioned Blockchain Method

MasterCard has acquired a patent for a method for partitioning a blockchain to allow for multiple transaction types and formats.

Current systems according to the filing do not allow this capability with records being stored in different blocks “often required to be of the same format and include the same types, and sometimes even sizes of data.”

This makes it cumbersome for anyone trying to use different blockchains for different needs.

“An entity may want to operate a permissioned blockchain, where varying levels of permissions may be used for participation in the blockchain, such as by limiting the nodes that may add new blocks to the blockchain. However, because all transactions in a traditional blockchain are formatted similarly, the permissions may not be extended to access to the actual transactions in the blockchain,” it says.

This also means that a lot of resources are lost in between these transitions, MasterCard says in its patent filling.

“In the case of an entity that wants to use multiple types of blockchains, such as a different blockchain for several different currencies, the entity must deploy and operate each of the different blockchains, which may require significant resources and processing power.”

The proposed partitions are called subnets and will be internally consistent. These will, however, interact in a single wider ecosystem as detailed in the patent. The system will be more robust and will allow for more utility.

MasterCard has filed one of the highest blockchain patents so far. Chinese e-commerce giant Alibaba is leading with over 90 patents filed so far.

 

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