Quant Granted US Patent for Chronologically Ordering Blockchain Transactions
Quant’s latest patent from the United States Patent and Trademark Office recognizes its innovative method for ordering transactions across different blockchains.
Quant, a pioneer in blockchain for finance, has achieved another milestone in its mission to simplify and future-proof distributed ledger technology. The company has been granted a patent titled ‘Blockchain Communications and Ordering’ by the United States Patent and Trademark Office. This patent acknowledges Quant’s invention of a unique method for chronologically ordering transactions from multiple blockchains. With a previous patent secured from the Japanese Patent Office, Quant continues to solidify its position as a leader in blockchain innovation.
Overcoming the Challenge of Different Block Times
Prior to Quant’s research and development efforts, the varying block times across different blockchains posed a challenge in finding a consistent and agreed-upon method for ordering transactions. This inconsistency hindered the integration of multi-blockchain projects into existing systems and limited the use of multiple blockchains in business operations. Quant’s new patent addresses this issue by introducing a method to establish a universal time zone for all blockchains. This breakthrough enables enterprises and smaller businesses to generate reliable and consensus-based records.
The Importance of Patents in Blockchain Adoption
Helen Kemmitt, Quant’s general counsel, emphasizes the significance of patents in the blockchain industry. As blockchain adoption continues to grow, patents play a crucial role in protecting intellectual property and fostering ongoing innovation. Quant recognizes the value of patents in solidifying its market position as a pioneer in blockchain for finance. By securing patents, the company safeguards its research and development efforts while driving further advancements in the field.
Supporting Financial Institutions in Digitization Efforts
Quant has a proven track record of supporting large financial institutions in their journey towards digitizing financial markets. The company has collaborated with esteemed organizations such as the Bank of England and the Bank for International Settlements on Project Rosalind. This collaborative effort explored the use of APIs for digital currency systems. By leveraging its expertise, Quant aims to revolutionize the financial industry by making blockchain technology more accessible and user-friendly.
Overledger: Enabling Blockchain Accessibility
Quant’s low-code platform, Overledger, is a key component in making blockchain technology accessible to businesses of all sizes. Overledger simplifies the integration of different blockchains into existing systems, allowing companies to leverage the benefits of multiple blockchain networks. The technology behind Overledger is currently patent pending in various jurisdictions, further highlighting Quant’s commitment to innovation and its dedication to providing cutting-edge solutions to its clients.
Conclusion:
With the grant of a new patent from the United States Patent and Trademark Office, Quant has solidified its position as a pioneer in the field of blockchain for finance. By addressing the challenge of chronologically ordering transactions across different blockchains, Quant has paved the way for seamless integration and wider adoption of distributed ledger technology. As blockchain continues to revolutionize industries, the protection of intellectual property through patents becomes increasingly vital. Quant’s commitment to innovation, demonstrated through its patent portfolio, reinforces its market position and sets the stage for future advancements in the field.