Quant Secures New Patent for Blockchain Transaction Ordering
Quant, a trailblazer in blockchain for finance, has recently obtained a new patent from the United States Patent and Trademark Office, titled ‘Blockchain Communications and Ordering.’ This patent acknowledges Quant’s invention of a distinctive method for chronologically ordering transactions across different blockchains.
Advancing Blockchain Chronology for Consistency
The newly granted patent, identified as US patent 11842335, is a significant achievement for Quant in its ongoing mission to simplify, ensure trust, and future-proof distributed ledger technology. Last year, Quant also secured a patent from the Japanese Patent Office, further reinforcing its commitment to innovation in the blockchain space.
Before Quant’s research and development efforts, the disparate ‘block times’ across blockchains posed a challenge in establishing a definitive transaction ordering method over multiple blockchains. The variations in block times hindered the development of a cohesive and consistent process for consortiums to agree upon. This inconsistency created obstacles for enterprises looking to integrate multi-blockchain projects into existing systems or leverage multiple blockchain types in their operations.
Quant’s Solution: A Universal Time Zone for Blockchains
The granted patent recognizes Quant’s pioneering method to address this challenge by introducing a universal time zone for all blockchains. This approach ensures that enterprises, regardless of size, can generate reliable and consensus-based records. Helen Kemmitt, Quant’s general counsel, emphasizes the importance of patents in the blockchain landscape, stating, “As blockchain adoption grows, patents are vital in protecting the fruits of research and development, and act as a catalyst for ongoing innovation. At Quant, we view patents as a key way of solidifying our market position as a pioneer in blockchain for finance.”
Quant’s Impressive Track Record
Quant has a proven history of supporting major institutions in digitizing financial markets. Notably, the company collaborated with the Bank of England and the Bank of International Settlements on Project Rosalind, focusing on exploring the use of APIs for digital currency systems. Quant is also making blockchain technology more accessible to businesses of all sizes through its low-code platform, Overledger.
Overledger: Democratizing Blockchain Access
Overledger, Quant’s innovative low-code platform, plays a pivotal role in democratizing access to blockchain technology. The platform is designed to cater to firms of all sizes, offering a user-friendly interface for blockchain integration. Various aspects of Overledger’s technology are currently pending patent approval in multiple jurisdictions, highlighting Quant’s commitment to continuous innovation and enhancement of its technological offerings.
Conclusion: Pioneering Advancements in Blockchain Technology
With the recent patent success, Quant reinforces its position as a pioneer in the blockchain for finance sector. The establishment of a universal time zone for blockchains addresses a significant challenge in transaction ordering, providing a streamlined and consistent approach. As Quant continues to innovate and expand its footprint, the blockchain space can expect further advancements and contributions from this trailblazing company.