SANTA CLARA, Calif., and CAMBRIDGE, England–(BUSINESS WIRE)–RKVST® has been granted a U.S. patent that improves scalability, performance, availability, and cost by eliminating the limitless storage requirements associated with ever-growing transaction data.
Blockchain and disseminated record innovations (DLT) are arising as an essential structure block of new computerized correspondence stages. A shared responsibility system’s power to securely store, trade, and compute data extends far beyond cryptocurrency and NFT use cases to supply chain, environmental, social, and governance (ESG) implementation, the Internet of things (IoT), regulatory compliance and audit, and many other areas.
It is a well-known feature of blockchains that as the number of transactions increases, more data is created, necessitating an increase in storage capacity. Blockchains record, confirm, and log a sequence of transactions. Additionally, because blockchains are immutable, nothing is ever deleted from the ledger, increasing storage requirements. Cost, scalability, performance, and availability all suffer as a result.
Jon Geater and Mansoor Ahmed-Rengers came up with the patent for Data Structure Storage Optimisation, which allows for more flexible storage of the chain data in parts without sacrificing the chain’s end-to-end cryptographic verifiability. This addresses concerns and the costs of keeping up with ever-expanding data.
RKVST co-founder and chief product officer Jon Geater stated:
“At RKVST we’re endeavoring to make blockchain commonsense for the genuine world, undertaking use. Fundamental for any supply chain, the RKVST blockchain-powered platform provides proof of origin, proof of provenance, and proof of authenticity for any data. We can deliver portable data integrity, transparency, and trust without the burden of ever-increasing operational overheads by implementing the technology behind this patent.
Squeezing empty blocks together or using compression to reduce the storage space required for all blocks, in general, are two well-known methods that aim to alleviate the storage issue with blockchains by reducing the storage space required for the blocks. While these arrangements help partially, they just defer the unavoidable, and in the end, similar stockpiling issues emerge. This development will be groundbreaking as far as the versatility and cost of sending blockchain and quickly present when blockchain is universal across big business applications.
RKVST was designed to eliminate the time-consuming, costly, and error-prone processes that are currently required to verify and validate information as it moves between businesses to guarantee its safety. The quickest way to instantly demonstrate who did what and when with any digital asset is through the RKVST API. It is accessible as a free perpetually fundamental help that anybody can utilize today at http://www.rkvst.com.
Patent number US-11636080-B2: About RKVST RKVST enables businesses to demonstrate the authenticity and provenance of any data they use in their business operations. It is protected by a patent that is pending in the UK and Europe. RKVST provenance-as-a-service eliminates the frustration, waste of time, and uncertainty of manually verifying data for a variety of purposes, including the tracking of nuclear material, the foundation for climate transparency, or the resolution of supply chain disputes. Through an open API, RKVST, which is based on blockchain technology, seamlessly integrates with existing software and secure data storage systems, creating a record of any data’s origin, provenance, and authenticity. In addition, it is simple to disclose that provenance to partners, suppliers, and customers, generating the trust, transparency, and integrity that every business requires for crucial decision-making. Visit RKVST.com for more information.
Source – Businesswire