RKVST has been granted a U.S. patent that addresses the storage limitations of blockchains, improving scalability, performance, and cost-effectiveness. The innovative solution solves the ever-growing data storage requirements, making blockchain practical for real-world enterprise applications.
RKVST, a company focused on making blockchain practical for enterprise use, has been granted a U.S. patent that addresses the storage challenges associated with blockchains. The patent, called Data Structure Storage Optimization, allows for more flexible storage of blockchain data without compromising its cryptographic verifiability. This innovation aims to improve scalability, performance, availability, and cost-effectiveness.
Blockchain and distributed ledger technologies have gained prominence as essential components of digital communication platforms. They offer secure storage, trading, and computation of data within a shared responsibility system.
Beyond cryptocurrency and NFTs, blockchains have applications in areas such as supply chain management, environmental initiatives, IoT, regulatory compliance, and auditing.
As the number of transactions increases, so does the data stored in blockchains. Since blockchains are immutable, meaning data cannot be deleted, the storage requirements grow continuously. This results in scalability, performance, availability, and cost issues. RKVST’s patent provides a solution by enabling more flexible storage of chain data while maintaining end-to-end cryptographic verifiability.
Jon Geater, co-founder and chief product officer of RKVST, highlights the importance of making blockchain practical for real-world enterprise use. The RKVST blockchain-powered platform offers data integrity, transparency, and trust for supply chains by providing proof of origin, provenance, and authenticity. Implementing the patented technology allows for these benefits without the burden of increasing operational overheads.
Existing techniques attempt to mitigate blockchain storage problems by compressing blocks or squashing empty blocks together. While these solutions provide temporary relief, they do not address the underlying storage challenges.
The patented innovation by RKVST is expected to have a transformative impact on blockchain scalability and deployment costs, bringing forward the widespread adoption of blockchain in enterprise applications.
RKVST’s overarching goal is to eliminate time-consuming, expensive, and error-prone processes involved in verifying and validating information exchanged between companies. Their API offers a fast and reliable way to prove the origin and history of digital assets. The RKVST platform is available as a free basic service for anyone to use.