WANdisco (WAND); announces filing of new blockchain patent

Published on 25-07-2018 07:03:09
Author Sparks Team

WAND announced a new patent filing to protect the use of the company’s Distributed Coordination Engine (DConE) – a patented Paxos-based consensus technology to resolve issues associated with public blockchain technology.

Using DConE, WAND’s pending blockchain patent will enable effective permissioned blockchain transactions with an underlying algorithmic mechanism. This mechanism will enable to achieve throughput that is orders of magnitude higher than public blockchains.

The DConE blockchain application will enable the use of blockchain technology in various commercial applications, including but not limited to supply chain, banking, healthcare, retail, pharmaceutical, insurance, and government.

The company believes the academic interest in this patent will be around the importance of algorithmically based consensus, which will enable a decentralised network to arrive at an agreement about the state of the blockchain.

The board remains positive about the growing opportunities, and is confident that the company will continue to trade in line with market expectations.

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