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Mastercard Patents To Store Different Types Of Transactions On A Single Platform.

The U.S. Patent and Trademark recently published the details of a ‘Mastercard patent’ that explains a cluster or company may require to store several types of transaction data on a single platform – one thing that’s presently very troublesome to try on a single blockchain.

To counter this issue, MasterCard describes that how a particular block-generation methodology for a permissioned blockchain could ensure that totally different blocks store different types of data.

The document, that was initially filed earlier in July 2016, explains that “the transaction data records held within the blocks comprising a blockchain are usually needed to be of same format and embody the same types, and generally even sizes, of data.”

Rather than, in any case of associated entity that desires to employ multiple forms of blockchains, like different blockchain for other different currencies, that source might possibly require to run multiple blockchain platforms, that in return would perhaps require very large computation power.

The patent further adds:

“There is a requirement for a technological resolution to offer a partitioned blockchain that’s capable of storing multiple formats of transaction and types in a very single blockchain, reducing the computing resources and hashing power needed for implementing and operation of the blockchain, whereas additionally providing increased usage of permissions for permissioned blockchains.”

The patent adds that a considerably partitioned blockchain could receive info concerning transaction types from totally different computing devices. Every partition, mentioned potentially as a “subnet” by the patent, would store data about a few specific type of currency or otherwise hold differing types of data than the other subnets.

Among financial corporations, Mastercard has become a prolific filer of projected patents, all developed around numerous use cases of the technology.

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