China UnionPay had three patents in blockchain during Q2 2024. China UnionPay Co Ltd filed a patent related to a blockchain consensus method that involves determining a target sub-blockchain for a target block, adding the block 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.
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China UnionPay had no grants in blockchain 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 valid blocks, while the computer device executes operations to determine target sub-blockchains, obtain sequences of valid blocks, and globally rank them based on logical clocks. The computer-readable storage medium and program product store the executable program for implementing the method, ensuring the efficient and accurate consensus mechanism in blockchain systems. Overall, the patent focuses on enhancing blockchain technology by providing a systematic approach to achieving consensus among nodes in a blockchain network.
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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.
