25th Jul 2018 13:21
LONDON (Alliance News) - WANdisco PLC said Wednesday it has a new patent filing protecting the use of its Distributed Coordination Engine to resolve issues associated with public blockchain technology.
According to WANdisco, public blockchains "have a number of significant limitations" and in order for permissioned blockchains to be commercially viable "these restraints need to be overcome".
WANdisco's pending blockchain patent enables "effective permissioned blackchain transaction with an underlying algorithmic mechanism".
The software company claim this mechanism "enables throughput to be achieved that is orders of magnitude higher than public blockchains".
WANdisco believes its Distributed Coordination Engine blockchain application - a patented Paxos-based consensus technology - opens up the potential of blockchain technology to be used in banking, healthcare, retail, healthcare, pharmaceutical and government.
The company said its trading continues to be in line with market expectations.
Shares in WANdisco were down 2.9% Wednesday at 872.00 pence each.
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