Mastercard has come up with a technology that will speed up the work of the blockchain

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The payment giant Mastercard wants to get a patent for a technology that allows you to quickly add new nodes to the blockchain.

Why it is needed

The blockchain is impossible to change, and therefore “each of the thousands, millions and billions of blocks, before being generated and added to the blockchain system, must undergo verification at a new node.”

Does not sound like a problem. However, imagine what will happen when the blockbuster is introduced into most areas of activity, and huge corporations will transfer all their data there. The speed of adding new nodes will slow significantly because of the registry array.

“Verification of such a huge number of blocks can take considerable time. The longer this happens, the longer the new node can not participate in the process. Consequently, a technological solution is needed that would increase the speed of navigation in the blockchain. Thanks to this, it will be possible to reduce the time that is required for the new node to begin work in the blockchain. “

When the blockchain will be saved

A patent application to the US Patent and Trademark Office Mastercard was filed in October 2016. In it, representatives of the company described a system through which nodes can communicate and verify with the content of a particular blockchain. According to Mastercard, the technology will speed up the process of synchronizing nodes, which represent a digital copy of the transaction history on the network.

But that’s not all …

“Quick tracking flags” will be introduced into the system to add blocks. The nodes, according to Mastercard, will use these flags for faster scanning of the contents of the blockchain.

Also, the statement assumes the use of a special configuration blockchain, which will act as a software for the nodes and which will help to introduce further changes.

It is not yet known whether the Mastercard patent will be approved in the Office, but the need for the introduction of this technology is definitely there.

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