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MasterCard out to Revolutionize How Blockchain Synchronizes Data

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Popular Payment giant, MasterCard is taking the concept of  blockchain workability a notch higher, if its recent application to patent a way to add new nodes quickly is anything to go by. Through a patent application that was published by the US Patent and Trademark Office on Thursday, the company offers details how nodes can connect with and verify certain content of a blockchain.

An Eye on Speed

According to MasterCard, this idea is aimed at improving the speeds at which these nodes can be updated. Notably, Mastercard filed this application way back in October 2016. In this application, the details note that a blockchain can store billions of transactions records over a period of time in various types of blocks.

As much as this is part of the immutable nature, this can also mean that the blockchain could have billions of blocks, whereby each ought to be verified by the incoming node before the blockchain generates and adds new ones. MasterCard goes on to offer its explanation:

The verification of such a large number of blocks may take a significant amount of time, during which new blocks may be added to the blockchain, further delaying the ability for the new node to participate … Thus, there is a need for a technical solution to increase the speed at which a blockchain may be navigated for verification thereof, which can thereby reduce the time required for a new node to begin participating in the blockchain.

Including Fast-Track Flags

In order to achieve this successfully, this system proposed needs to include the so called “fast-track flags” included in block headers. According to MasterCard, nodes can then use those flags to scan over the contents of the blockchain much more quickly.

Image Credit: Deposit Photos

What do you think about MasterCard’s patent? How could this affect how blockchain operates?  Let us know  your views in the comments section below.

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