Quant Granted US Patent for Chronologically Ordering Blockchain Transactions
Quant’s latest patent from the United States Patent and Trademark Office recognizes its unique method for chronologically ordering transactions from different blockchains, representing a significant milestone in the company’s mission to simplify and future-proof distributed ledger technology.
Quant, a pioneer in blockchain for finance, has achieved a major milestone with the grant of a new patent from the United States Patent and Trademark Office. Titled ‘Blockchain Communications and Ordering,’ this patent acknowledges Quant’s groundbreaking method for chronologically ordering transactions across multiple blockchains. This achievement follows the company’s successful patent application with the Japanese Patent Office last year, solidifying its position as a leading innovator in the blockchain industry.
Overcoming the Challenge of Disjointed Transaction Ordering
Before Quant’s research and development efforts, the varying block times across different blockchains posed a significant challenge in finding a consistent and agreed-upon method for transaction ordering. This disjointed process hindered the integration of multi-blockchain-based projects into existing systems and limited the use of multiple blockchain types in operations. However, Quant’s innovative approach has successfully addressed this issue.
Establishing a Universal Time Zone for Blockchains
The recently granted US patent, numbered 11842335, recognizes Quant’s achievement in introducing a method to establish a universal time zone for all blockchains. This breakthrough allows enterprises and smaller businesses to generate reliable and consensus-based records. By agreeing on a universal time zone, Quant has provided a solution that enables seamless integration and cooperation among different blockchain networks.
The Importance of Patents in the Blockchain Industry
Helen Kemmitt, Quant’s general counsel, emphasizes the significance of patents in protecting intellectual property and fostering ongoing innovation in the blockchain industry. As blockchain adoption continues to grow, patents play a vital role in solidifying a company’s market position as a pioneer in the field. Quant recognizes the value of patents and views them as a catalyst for further advancements in blockchain technology for finance.
Quant’s Impressive Track Record
Quant has a proven track record of supporting large 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, which explores the use of APIs in digital currency systems. This collaboration demonstrates Quant’s commitment to driving innovation and revolutionizing the financial sector through blockchain technology.
Making Blockchain Accessible with Overledger
In addition to its groundbreaking research and development efforts, Quant is also focused on making blockchain technology more accessible to businesses of all sizes. The company’s low-code platform, Overledger, enables firms to leverage the benefits of blockchain without the need for extensive coding knowledge. Overledger’s technology includes other patent-pending elements in various jurisdictions, further solidifying Quant’s position as a leader in the blockchain industry.
Conclusion:
Quant’s recent patent grant from the United States Patent and Trademark Office is a significant achievement that highlights the company’s continuous dedication to simplifying and future-proofing distributed ledger technology. By introducing a method for chronologically ordering transactions across multiple blockchains, Quant has addressed a major challenge in the industry. As blockchain adoption continues to rise, patents play a crucial role in protecting intellectual property and driving ongoing innovation. With its impressive track record and commitment to accessibility through platforms like Overledger, Quant is well-positioned to shape the future of blockchain technology in the finance sector and beyond.