Mastercard has filed a patent which explores an expedited way to add new nodes to a blockchain network.
On the 26th of April, payment provider Mastercard International has filed a patent application with the U.S. Patent and Trademark Office (USPTO).
The patent application outlines a system to accelerate the activation of new nodes in a blockchain. The patent was originally filed on Oct. 24th, 2016, with the publication date on the application as April 26th, 2018, and invented by David J. King
It is challenging to activate new nodes – a computer connected to the blockchain network that stores a copy of the blockchain – as each computer is required to individually verify massive amounts of data.
According to the application, new nodes must verify “thousands, millions, or even billions of transaction records over time in a vast number of different blocks”.
The payments firm goes on to say:
According to the patent, the new system proposed for faster activation and verifications would be fast track flags. These would be included in the block headers and allow the new nodes to scan and verify the blockchain at greater speeds.
The patent also outlines the use of software specifically configured to perform querying, hashing, and signatory operations. These would further enhance system efficiency.
Mastercard Labs has been actively seeking and exploring blockchain technologies. To date, the company has filed over 30 patents focused on blockchain. While the company is opposed to the use of cryptocurrencies, it does believe in blockchain, as it hopes its latest application gets approved.
