China UnionPay had 21 patents in cybersecurity during Q2 2024. China UnionPay Co Ltd filed a patent related to a blockchain consensus method that involves determining a target sub-blockchain, adding blocks to the sub-blockchain, obtaining sequences of valid blocks from multiple sub-blockchains, and globally ranking the valid blocks to create a global blockchain. GlobalData’s report on China UnionPay gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
China UnionPay had no grants in cybersecurity as a theme in Q2 2024.
Recent Patents
Application: Blockchain consensus method, apparatus, and device, and storage medium (Patent ID: US20240163121A1)
The patent filed by China UnionPay Co Ltd. describes a blockchain consensus method that involves determining a target sub-blockchain for a target block, obtaining sequences of valid blocks from multiple sub-blockchains, and globally ranking these blocks based on logical clocks to create a global blockchain. The method includes steps for generating target blocks, merging field information, verifying output results, and determining parent blocks within the sub-blockchains. Additionally, the method involves synchronizing with other nodes to obtain target blocks and performing verifications based on output results, parent block information, and logical clocks.
Furthermore, the patent outlines a blockchain consensus apparatus and computer-related products that implement the described method. The apparatus includes modules for matching, screening, and ranking blocks, while the computer device executes operations to determine target sub-blockchains, obtain valid block sequences, and globally rank blocks based on logical clocks. The computer-readable storage medium and program product store the executable program for implementing the method described in the patent, providing a comprehensive solution for blockchain consensus within a blockchain system.
To know more about GlobalData’s detailed insights on China UnionPay, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
