Amazon Granted Two New Patents
November 16 2018 - 1:30PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
November 16, 2018 -- ADVFN Crypto NewsWire -- Amazon was just
given approval for two patent submissions that are related to
digital signatures and distributed data. These are two of the most
important processes that came out of Bitcoin’s structure. They have
no been broken down and used to benefit other types of networks,
not just cryptocurrencies.
Digital
Signatures
Digital signatures are the process
that ensures transactions of cryptocurrencies are from the intended
sender and accepted by the intended receiver. These signatures are
unique to each user and encrypted so that they cannot be
duplicated.
Amazon’s patent “signature
delegation” describes a method for“protecting the integrity of
digital signatures and encrypted communications.” The system is a
novel application of digital signatures that allows the generation,
distribution, validation, and revocation of one-time-use
cryptographic keys.
Distributed
Data
Distributed data is the process in
which a network holds information across a multitude of memory
sources, instead of one single data center. This is one of the most
important aspects in relation to blockchain networks and
cryptocurrency security, because without one central storehouse of
data, hackers have no place to specifically attack.
The second patent was first filed
back in December of 2015. It outlines a filing proposes using a
“grid encoding technique.” The patent suggests this method can help
to minimize storage redundancy and in turn, allow for maximum
availability, durability, and means of data recovery. Other
blockchain companies such as Filecoin, Sia, Storj, and Swarm have
all attempted to deal with these issues of distributed data storage
using blockchain technology.
Amazon is becoming a major source
for blockchain technology development, and is also creating an
entirely new service within the industry of Blockchain-as-a-Service
(Baas). Through Amazon Web Services, businesses can utilize
templates for blockchain networks built on the Ethereum public
network as well as the Hyperledger permission network developed by
the Linux Foundation.
By: BGN Editorial Staff
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